Do I go ahead and try for a Low % card.

worndownmum

Hi I have applied to shift my two cards Limit £9600/ balance £839 + £500 limit / £215 balance apr 21 % to a 0%card and am still waiting to hear if I have been successful.

Now I have a lot of High interest debt and am trying to cut this down before I start snowballing.
My husband has a £9,000 limit with £1,700 balance and £500 limit /balance 360 ish. at 21.04% apr.

Do I apply for a low % card and shift these onto it or do I wait until I find out if I am actually going to get the 0% one first.

What I mean is will it look bad if I am applying (well oh is) so soon.

Am I thinking right with the low apr as I still need to use it for keeping my overdraft down as I only have about £250 left to cover something like £430 of outgoings this week.

I mat not have to use it as I have applied for my overpayment on my electric to be sent to me .
Thanks peeps.
Jessie

brummiebabe

I'm not 100% sure (I'm sure someone'll tell you if I'm wrong!) but I think it's not a good idea to make too many applications which will need a credit search at around the same time! You're more likely to get turned down!

worndownmum

brummiebabe wrote:

I'm not 100% sure (I'm sure someone'll tell you if I'm wrong!) but I think it's not a good idea to make too many applications which will need a credit search at around the same time! You're more likely to get turned down!

Thanks for answering Brummie, and this is the way I am thinking as well, will it look bad if apply again for another card.

But I am getting frustrated looking at my husbands statement, he paid £40 payment and what actually came off the balance was £9.85 the other £30.15 was interest.
I really want to get down to a lower % card to save throwing more money down the drain.
Jessie