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£4K of debt - help!
therevelator
Posts: 120 Forumite
I currently have two separate credit cards - Barclaycard (£3K debt) and Nationwide Classic(£1K debt). I also have two current accounts with different banks. I don't have any other adverse marks against me like CCJs or the like.
I'm paying about £71 interest/month on the Barclaycard and £30/month on the Nationwide.
My situation is that I'm self-employed and so I can only give an approximate figure for annual income.
What I'm hoping to do is to apply for a credit card that offers a 12 month balance transfer option and to put all my debt from my other cards on to that card.
Given my situation, do you think I would be accepted for a new credit card that offered 12 months free interest for a balance transfer.
If I understand correctly, I think what would happen is that I wouldn't receive an instant answer and that they would 'consider' my response.
However, I don't want to apply because, if I understand correctly, a refused application would go against my credit score...which I could well do without.
I'm paying about £71 interest/month on the Barclaycard and £30/month on the Nationwide.
My situation is that I'm self-employed and so I can only give an approximate figure for annual income.
What I'm hoping to do is to apply for a credit card that offers a 12 month balance transfer option and to put all my debt from my other cards on to that card.
Given my situation, do you think I would be accepted for a new credit card that offered 12 months free interest for a balance transfer.
If I understand correctly, I think what would happen is that I wouldn't receive an instant answer and that they would 'consider' my response.
However, I don't want to apply because, if I understand correctly, a refused application would go against my credit score...which I could well do without.
Treat everyday as your last one on earth! and one day you will be right.
0
Comments
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Hello,
The best thing to do before you go ahead and apply, is to post on the credit card board. There are some very knowledgable people on there who can advise you as to which cards to go for.
Catseyez x0 -
Apply to MBNA, they accept everyone (or it seems that way). Mind you, if you fall behind on payments they have the reputation as being one of the worst people to have a debt with.0
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