Can I Do Anything With This Large Credit Limit?

Penny-Pincher!!

Hi

Just after some advice. When it comes to credit cards, Im abit of a novice :rolleyes:

I have a Halifax One CC with a £14k limit. The interest free period has run out and have nothing on it ATM. Have been offered a 4.5% LOB BT rate with no fee for when my Skycard runs out in Feb/March 06. My interest rate is 14.9% on the one card ATM but is a cash back card, so use for monthly purchases then pay in full each month.

Is there anyway I can make this money (£14k credit limit)work for me? I dont think there is,but as you lot know so much, maybe theres something I have overlooked The other cards I have are Barclaycard platinum (5k limit-clear 13.9%), Barclaycard Premiership MC (1k limit-clear 15.9%), Barclaycard MC (£500 limit-clear and linked to my paypal account for ebay 15.9% reduced limit from 4k too £500), Skycard (7k limit-£3500 on it, 0% till March 06).

Have been hammering my Skycard and paying off huge amounts each month as plan to be debt free by April/May 06. Im thinking of asking BC to close my premiership MC and move the credit limit to the platinum or should I just close them down. Im very disciplined with money and have a good credit rating.

Any suggestions would be welcome.

Thanks

Penny-Pincher!!
xxx

fatboyonadiet

Close down the ones you don't need, the 4.5% LOB isn't great to be honest, best bet would be to apply for other 0% cards when the skycard runs out. Closing the ones you don't need will help your credit rating as less available credit, also reducing the limit on the card with 14k will help too if you don't need that much.

Other then that I can't suggest much else, don't think you can do much with the 14k card, maybe if they offered a better rate on the LOB you could max it out and put it into a savings account but won't really earn much interest (dependent on what they offer)

Penny-Pincher!!

Thanks for that. I thought as much..LOL. Will close down the cards I dont use and will apply for a 0% if I can get one.

PP
xx