Cards at their limits, would like 0% tranfer, any ideas.

TAKEAWAY_2

Hi, I have the following credit cards and am looking to hopefully transfer the balances to one or a couple of new cards in order to take advantage of 0% deals and to try my damb best to get the little beggers paid off!

HSBC Gold card limit £3,500 out/s £3,380
Halifax 'ONE' limit £2,400 out/s £2,520

With the halifax one I sometimes pay a few days late although never more than that but it still shows up at CRA, and it's over limit... I have 2 mortgages, one's buy to let, that are always paid on time.

Can anyone suggest a company that is likely to accept me, I've looked on moneysupermarket but all is unclear to me, any suggestions..

cheers everyone!!

Bokken_2

Welcome to MSE.
There are several ways to deal with this situation personally I would go for the simplest as you haven't been able to make your payments on time .
You will have damaged your credit rating by paying late and exceeding your credit limits without authorisation.
I would go to your bank and get on your knees and beg for a loan and pay off the cards in full immediately.
Then set up a direct debit to pay the loan amounts and work hard to rebuild your credit rating by paying the loan on time.
I don't think you will get a 0% credit card for the limits you want having shown a disregard for the Terms and Conditions of the cards you currently own.
If you don't get the payments back into line soon you will find the card companies asking for the cards back and the outstanding money owed.
You need to read up on Martins articles about credit cards so that you understand how to avoid penalty charges for going over your limit and interest charges for staying over your limit.You may find you can afford these payments but unless you get a grip soon you will be in a difficult position and you won't have a credit rating .

The_Boss

From what you have said, the only card that I imagine you would get would be a Vanquis one, but no 0% offer there, and the rip off APR makes it a bit pointless in your position. Its all well and good saying you want a 0% deal, but these arent automatic just because someone wants one - only if you make payments on time and are not up around the limit on all the cards you own will you be considered, and even then there may be other reasons for being declined.

Cant really advise any different apart from what Bokken has said.

TAKEAWAY_2

Thanks for the responses,

Looks as though I have to take more of an ownership attitude to the situation, i didn't realise I was hammering my credit rating so much just by being a little over limit and paying late here and there. Like I say I have a couple of mortgages which are conducted very well and have been running for around 4 or 5 years, but that seems besides the point right now!!

I took a wage drop around a year ago for a change in career and now the year is up I can finally look for the next step job, I have an interview this week and if I get the position I'll be around 4k a year better off...

One thing I've leart over the last year though is credit is certainly not your friend, it feels good to be given credit and I for one felt as though it was 'MY' money.... I have one aim now though and that's to be unsecured debt free in 2 years....I currently owe around 6k on credit cards and a further 8k on a personal loan... I'm sick of the banks making profit from me and it's my aim to make money from them!

with a new job, career progression and a couple of business ideas I have, 2 years is the target!!

cheers..

mintymoneysaver

come over to the debt free wannabe's, we'll soon sort you out!