help with what to balance transfer

the_boy_with_no_name

i have just been accectepted for a barclycard gold card & was planning to do a balance transfer from my other cards & take advantage of the 0% apr until march 2011.
the problem is that they have only gave me a £1500 limit.
my current outstanding balances are:

clydesdale bank credit card balance: £2150 APR: 26.5%
argos card balance: £365 APR: 27.9%
partners next account balance: £700 APR: 26.49%
partners river island balance: £250 APR: 20% (approx)

all of this comes to £3465 & after may i can afford to throw around £400 to get all this payed off. so i worked it out that if i got all moved onto 0% it would be paid off in time.
i can afford the minimum payments for everything (plus extra) so that isnt a problem, but what should i balance transfer.
i was thinking about moving 1300 of the credit card, paying the minimums on everything else until may then getting shot of the smaller amounts then tackling the 0% card.
is this what i should do???

thanks in advance

stephane_2

the_boy_with_no_name wrote: »

i have just been accectepted for a barclycard gold card & was planning to do a balance transfer from my other cards & take advantage of the 0% apr until march 2011.
the problem is that they have only gave me a £1500 limit.
my current outstanding balances are:

clydesdale bank credit card balance: £2150 APR: 26.5%
argos card balance: £365 APR: 27.9%
partners next account balance: £700 APR: 26.49%
partners river island balance: £250 APR: 20% (approx)

all of this comes to £3465 & after may i can afford to throw around £400 to get all this payed off. so i worked it out that if i got all moved onto 0% it would be paid off in time.
i can afford the minimum payments for everything (plus extra) so that isnt a problem, but what should i balance transfer.
i was thinking about moving 1300 of the credit card, paying the minimums on everything else until may then getting shot of the smaller amounts then tackling the 0% card.
is this what i should do???

thanks in advance

You are probably best transferring the credit card balance onto Barclaycard. Once with Barclaycard you will notice on your online banking that they will offer you very regularly if account well managed some deals on balance transfer. Most of the time they will offer you LOB at 6.9% which is still very good these days. I have had mine since last year and the offer has been on my online banking almost every month

the_boy_with_no_name

stephane wrote: »

You are probably best transferring the credit card balance onto Barclaycard. Once with Barclaycard you will notice on your online banking that they will offer you very regularly if account well managed some deals on balance transfer. Most of the time they will offer you LOB at 6.9% which is still very good these days. I have had mine since last year and the offer has been on my online banking almost every month

thanks for the advice.

am i better having some debt on each card rather than all on 1

Any

Having some debt on each card rather then all on one? What difference would it make?

I personally would pay off the highest APR debts first.

Why cannot your partner get her own card to BT to? Did she/he try?

CannyJock

the_boy_with_no_name wrote: »

barclycard gold card ... 0% apr until march 2011 ... £1500 limit.

argos card balance: £365 APR: 27.9% (store card?)
clydesdale bank credit card balance: £2150 APR: 26.5%
partners next account balance: £700 APR: 26.49% (store card?)
partners river island balance: £250 APR: 20% (approx) (store card?)

Have put them into APR order, is simple - clear from top to bottom. If they ones you list are store card, you won't be able to BT them, so that leaves you only the Clydesdale card.

Maximum BT with a Barclaycard is 90% of limit up to £5,000 (details here) so maximum you can BT is only £1,350

Agree totally with what others have already advised - pay minimum on lowest APR debts and divert every spare penny into clearing highest APR debt, and knock them off in that order.

Cash_Flow

CannyJock wrote: »

Have put them into APR order, is simple - clear from top to bottom. If they ones you list are store card, you won't be able to BT them, so that leaves you only the Clydesdale card.

Maximum BT with a Barclaycard is 90% of limit up to £5000 (details here) so maximum you can BT is only £1,710

Agree totally with what others have already advised - pay minimum on lowest APR debts and divert every spare penny into clearing highest APR debt, and knock them off in that order.

The OP's limit is only £1500.00:D

CannyJock

Cash_Flow wrote: »

The OP's limit is only £1500.00:D

So he does, that'll be a maximum of £1350 then.

Too many calculators open at once

the_boy_with_no_name

CannyJock wrote: »

Have put them into APR order, is simple - clear from top to bottom. If they ones you list are store card, you won't be able to BT them, so that leaves you only the Clydesdale card.

Maximum BT with a Barclaycard is 90% of limit up to £5,000 (details here) so maximum you can BT is only £1,350

Agree totally with what others have already advised - pay minimum on lowest APR debts and divert every spare penny into clearing highest APR debt, and knock them off in that order.

thats what i thought & thats what i'll do.

thanks for all the replys.