We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Advice on current CC debts and also transferring balance?
picklednut
Posts: 102 Forumite
in Credit cards
Hi
I currently have two CC with debts of approximately £2500 on one and £900 on the other. I have about £150 spare per month to start paying off the debts on these cards. Which is the best way to use the £150 should I pay the minimum payment on one card and then pay the rest of the £150 on the other card? Is so should I start with the card with the largest or smallest debt? Or should I pay off £150 equally between the two cards?
In the meantime I am looking around to transfer the debts to one smaller fee card and the last time I applied I was only given a £500 credit limit. If I accepted the offer does that I mean I would only be able to transfer £500 from the debts from the other cards to the new credit card or do they usually allow a new credit card customer to transfer ALL their debts? I don't want to have lots of marks on my credit report by applying for cards which seem pointless if I can't transfer the whole amount.
Thanks in advance
I currently have two CC with debts of approximately £2500 on one and £900 on the other. I have about £150 spare per month to start paying off the debts on these cards. Which is the best way to use the £150 should I pay the minimum payment on one card and then pay the rest of the £150 on the other card? Is so should I start with the card with the largest or smallest debt? Or should I pay off £150 equally between the two cards?
In the meantime I am looking around to transfer the debts to one smaller fee card and the last time I applied I was only given a £500 credit limit. If I accepted the offer does that I mean I would only be able to transfer £500 from the debts from the other cards to the new credit card or do they usually allow a new credit card customer to transfer ALL their debts? I don't want to have lots of marks on my credit report by applying for cards which seem pointless if I can't transfer the whole amount.
Thanks in advance
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.7K Banking & Borrowing
- 254.9K Reduce Debt & Boost Income
- 456.1K Spending & Discounts
- 248.2K Work, Benefits & Business
- 605.8K Mortgages, Homes & Bills
- 179K Life & Family
- 263.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards