Credit Card Balance of £9,000 - will I be able to transfer to a new card?

robbie_save

Sorry if this kind of question has been covered - I'm a newbie! :hello:

I have a credit card that I've had for 2 years and now have an outstanding balance of £9000. im paying lots of interest on this....

Can I transfer the whole balance without question to a new card which has say a 12 month interest free balance transfer period?

Or might they decide the balance is too large? (IE they don't want to give me as a new customer such a high limit..)

Cheers

marsden_pete

even if they give you a lower limit you will save money by transfering part of your debt.

sarahs999

It's impossible to say without knowing what your credit score is, but I'd say it's unlikley you could bt it all. I think cards are generally offering lower limits at th emoment until you've proven yourself a worthy customer. But look at it this way - any amount you can transfer will reduce your interest payments, so that's got to be good.