Credit Card Vs Loan - Help eeek!

Simmo2007

iHiya
'm a bit stuck with my two credit cards. I have a Barclaycard one with £1.5K 0% til May 2010 and a Tesco one now at 16.9% with £3K on. I'm accuring roughly £35 p/m interest on the Tesco card. I can't afford to pay either off in full for a long time on my current salary. I was looking at a loan option as the interest say over 3 or 4 years will be less than the interest on the card (even if I move the Barclaycard balance when it expires). I was going to 'card tart' the Tesco balance but the cards don't offer than much to balance transfer - it starts around £1.5K max. I'm thinking of applying for a loan and clear off the card debt. It would be more manageable? Obviously the less I borrow the highest the % from what I've seen on comparison sites. Any thoughts folks?
Thanks.;)

Moggles_2

I was going to 'card tart' the Tesco balance, but the cards don't offer that much to balance transfer - it starts around £1.5K max.

Have you applied unsuccessfully for a balance transfer card then? If not, I'd give that a go first.

13 months is currently available to new customers from Halifax on balances transfers made in the first 90 days. There's a 3% BT fee.
Minimum monthly payment is just 1% of the balance shifted

http://www.halifax.co.uk/creditcards/pluscard136.asp

If the worst should happen, Martin's advice is to transfer what you can. Don't leave an offer unused out of exasperation. It's already on your credit file, so you may as well use it. (See Martin's *Credit Card Limit: didn't get what you wanted?* article.) You'll still save money.

http://www.moneysavingexpert.com/cards/bad-credit-rating

Simmo2007

Thanks for that. I haven't tried any other cards but was worried as it would be £3K is it feasible to split it onto two cards if the balance transfer limit given is low? I'm just going on the Barclaycard one which was £1.8K when I got it.

CannyJock

Maybe look into an MBNA backed card like Virgin Money? MBNA are known to have decent limits, as are Halifax like Moggles says.