Have I made a mess of this?

mendedmyways

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mum2one

from a quick long you seem to of done ok, so just double checking, with the 2 balance transfers have you completely cleared the hsbc card or any balance can be finished quickly.

it sounds like you have got some good deals, both cards have partial balances at 19.9% and the bt at cheapie rate, with both ending June 2010.

I'm partically thinking aswell as typing (so apologies if it seems like I babble), I would look for a 0% in May (allow the 6 week changeover period), but without sounding negative a lot of the 0% transfer balances are disappearing, and if you were applying for a new card, I would apply for 2 maximum, but a break between them, as the application will leave a footprint on your credit path.

It may be worth having Plan B in action, where you look at shifting as much as you can between now and june, then look at the HSBC card and see if there give you a low rate deal, then try one of the 2 cards, the economy may of picked up in 6 months time, but the more positive you can do now (pay more than minimum etc, think about applying for credit - leave footprint,).

Good luck with it, and def look at the snowball, x

mendedmyways

yes HSBC gone!! I have been wondering tonight if I should cancel it, but maybe you are right HSBC may have something to offer in a few months.

I havent applied for any credit for over a year now (or maybe not if they credit check when you upgrade your mobile as I did that in May 09) so Im hoping my credit file is good. Never missed a payment etc

I really need to learn how to play this game of BT'ing as im sure with overpayments I can clear my debts sooner than I first hoped?

CannyJock

mendedmyways wrote: »

I really need to learn how to play this game of BT'ing as im sure with overpayments I can clear my debts sooner than I first hoped?

So you've now got:

MBNA 2690 @ 0% till June 2010
MBNA 7100 @ 19.9%

Barclaycard 2560 @ 0% till June 2010
Barclaycard 3900 @ 0% till July 2010

You've still reduced the overall interest, but the problem you'll have with the MBNA balance is their allocation of payments will mean that you're repaying the 0% while they're racking up the interest on the 19.9% balance. Would have been better if you'd transferred the 7100 onto another 0% card first, like a HBOS or RBS backed one.

mendedmyways

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