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nats04
Posts: 9 Forumite
in Credit cards
I've just been accepted online for a Barclaycard Simplicity card, which I'm hoping to BT some of my debts from 2 higher rate cards over to (in particular a nasty MBNA card that about to go up to 31.9%APR in Jan!!).
However, I have 2 questions:-
1 - If (as is likely) Barclaycard offer me a very low credit limit, should I bother with a BT at all?
2 - If I do get a limit that is useful and successfully clear the MBNA, should I cancel the account, or keep it open in the hope that they may offer 0% BT deals in the future to encourage me to use it again?
Thanks!!
However, I have 2 questions:-
1 - If (as is likely) Barclaycard offer me a very low credit limit, should I bother with a BT at all?
2 - If I do get a limit that is useful and successfully clear the MBNA, should I cancel the account, or keep it open in the hope that they may offer 0% BT deals in the future to encourage me to use it again?
Thanks!!
0
Comments
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1 - If (as is likely) Barclaycard offer me a very low credit limit, should I bother with a BT at all?
2 - If I do get a limit that is useful and successfully clear the MBNA, should I cancel the account, or keep it open in the hope that they may offer 0% BT deals in the future to encourage me to use it again?
(1) Barclaycard generally give lower limits that MBNA so this is highly likely to happen. But any debt at 0% is better than paying interest so transfer as much as you can to the 0% deal.
(2) MBNA are well known for excellent existing customer deals, so my advice is to keep it open and NOT close it down. Others may disagree.0 -
Thanks for the reply - Barclaycard came through after all - £4800 limit at 6.8%. I'll be transferring the MBNA debt this week :0)0
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