great news for my credit cards......but need advice

curlyboy

Im over the moon people from the boards gave greast advice

Ive been excepted for an Egg card £4K limit interest free till March 2011

Can I balance transfer the following

Abbey Card £375
Tesco C/C £930
Barclaycard £1330

will egg let me balance transfer all 3 amounts ???? so i can close the above 3 cards ????
will a 3% fee apply on each balance transfer ????

2% minimum monthly payments and 3% fees on balance transfers

put all 3 amounts on my egg card close the 3 accounts and will save around £38 a month great news

I just need the above clarifying

cifpower

You can transfer the above balance and you will be charged a separate balance transfer fee for each card. You can then close all 3 cards if you wish but I would recommend keeping a couple open.

curlyboy

why keep a couple open ??? it will improve my credit score with less credit available wont it????

thanks for responding

cifpower

I think it is always wise to have a spare card or two available in case of emergencies or other unforseen expenditure. Also, as you will have less credit available to you, you will be using more credit on the only card you have so your % of credit used will go up.

curlyboy

I see what your saying but I wont being using the Egg card its purely just for the balance tranfer so i can have interest free for next 13 months I dont use the other cards that why i wanted to clsoe all 3 . it wont hurt will it.

cifpower

If you want to close all 3 you can but my personal opinion is to keep one or two open

curlyboy

ok thanks for the advice its really good the egg card for 13 months interest free and in 13 months time i re apply for another interest free card and the balance will keep coming down and no interest yipeeeeeeeeeeee...fantastic card tarting isnt it

CannyJock

For sure - but apply for the "next" card in 12 months - always better to give yourself the option of a 2nd application and lose a month than try and run it to the wire.