Your opinions please

DilbertJones

I need a credit card with SBT facilities of around £2000 to pay off a loan

My question is do i have too much crdeit already?

I have a mortgage 6months old £75k
Egg card £2250 0% Limit maxed out to 95% of this for other debts 1 Month Old
Morgan Stanley £2800 Cashback credit card paid in full each month 2 Months old
Barclay Card £500 18.9% £0 Balance - Should I close this down? is never used

£500 Overdraft with A&L 0% 5 months old

My Salary is 19K

there would be no point in applying for a card unless i get around £2000 this is because i have £2700 outstanding on a barclyloan 18.9% I have around £700 in an isa to put towards paying this loan off early.

Your ideas & opinions greatly appreciated.

YorkshireBoy

Whether you have 'too much credit' will depend on what your salary is.

Bokken_2

As you know applying for too many loans /credit cards within a short period can damage your credit rating,generally if the applications are evenly spaced out over 12mths you should be okay .
If you are trying to keep your debts on 0% cards then you should close the Barclaycard and you can perhaps re apply for it next year and you'll have the new customer benefits.
There are other cards out there that are better suited to your needs MNBA/A&L/Mint all do SBT but they have recently changed the fees for these SBT.
Have a read up on Martins articles for SBT & BT & the credit card shuffle to find a card(s) that are going to suit you and what you want to achieve in the coming months.
hope that helps a bit.

sicker

Robodan,
As you are thinking of closing your Barclaycard why not phone them and ask if rather than close the card you might transfer it to one with a 0% for 'x' months option. If they say no, then close the card.
If you don't ask you don't get.

Best of luck

John

DilbertJones

I have just amended the above with my salary, i forgot!!!

DilbertJones

any further opinions with respect to my salary?