Balance Transfers - Credit Limits

Sunny_Dee

Hi Everyone,

I'm a newbie to the forum, but have been coming to this site for a while now. The advice is excellent, but my partner and I have just moved into our first house 1 year ago and have built up credit card debt (over 4 cards!) of 11K.

I feel completely overwelmed, but when we tried to balance transfer, we can never even get a 5K credit limit, which has meant spliting the debt even more ways, and just makes the problem worse as we have more cards to make monthly payments on.

Ideally I would like to have 1 credit card, with life of balance offer, but I don't want to end up with yet another card. I have been talking to my partner about a loan, but he is reluctant as we are supposed to be getting married in 3 yrs, and that will end up compounding the situation.

Any advice anyone has regarding cards with better limits, or good loan offers, would be very much appreciated... or anyone who has been in a similar situation, I would love to here any words of wisdom...


Dee

Clariman

Hi SunnyDee,

Getting another loan or credit card is not the answer .... well, it is not the whole answer anyway. If you are overspending to the tune of £11,000 in one year, then you need to recognise the overspending and change your spending habits. There is a discussion board on this site which is a self-help group for getting out of debt (Debt Free Wannabees ?). Take a look at that. There are similar discussion boards on other financial websites.

Clariman