so much available balance - so little time

saxysarah

kk i have 3 cards and am chipping away at them reasonably enough now i started as a DFW! thing is i've cleared CC1 (£3000) available credit i have roughly 2.2k on CC2 and a barclaycard with about 3.5 k on the barclaycard is the lowest apr but i'm thinking is it worth me ringing the CC companies to ask if they can do me any balance transfer offers? I have 8k of available credit on the Bcard and about 2k available on the MNBA

quite a scary amount of credit - would be very easy to rack up that debt in full!

i dont want to apply for any 0% deals i applied with virgin and was refused so i'm too scared to apply to any more any one got any ideas or tips about how i might reduce the interest while paying off the debt?

izools

Barclaycard are funny with their offers - you have to keep an eye on them and when they turn up, take it while you have the chance.

Most often they do a 6.9% LOB offer; do you service your BCard online? If so, you'll see it when you can do a 6.9% LOB on the right hand side (if memory serves)

CannyJock

Presumably you're snowballing your payments?

Recent post from someone else with Barclaycard who's been offered to move their current balance onto 6.9% for LOB with a 2.5% fee.

Depending on the APR you're currently paying and any other offers on your other cards, it could be an idea to get the Barclaycard balance changed to 6.9% and transfer the other card balance onto it?

One application every 3 months won't do your credit report any great damage. I'd keep looking for a 0% deal to help you reduce the APR.

Did you appeal the rejection to explain that you wanted to take advantage of their BT offer in order to cancel other cards, so you would not be increasing your overall credit liability or risk?

If CC1 is now cleared in full, might be worth cancelling it, depending which card it is.

Any

saxysarah wrote: »

quite a scary amount of credit - would be very easy to rack up that debt in full!

Just lock that card in safe at home and leave it there....
Surely by the time you get home to retrieve the card for big purchase you will realise that you can't afford to spend.

CannyJock

Any wrote: »

Just lock that card in safe at home and leave it there....

Would that be the safe behind the Rembrandt in the second floor study at Chatteau Any?

saxysarah

CC1 is such a pretty WWF card with a lovely panda on it - - i should definately cancel it or at some point the temptation will be just too great!! and it will reduce my available balance so prob up my credit rating! should i look into cancelling store cards too? (they have no balances I cut them up years ago but in the past i've had debhanams/new look/mothercare/argos etc wouldn't have a clue now how to go about physically cancelling them tho!

I think i'll hold my horses and send off my electoral roll form - i may have been rejected because i've forgotten to send that back - if i can get a 0% card or 2 instead that would bring my balances down so fast instead of the majority of the repayments going to pay interest!

CannyJock

saxysarah wrote: »

CC1 is such a pretty WWF card with a lovely panda on it - - i should definately cancel it or at some point the temptation will be just too great!! and it will reduce my available balance so prob up my credit rating! should i look into cancelling store cards too? (they have no balances I cut them up years ago but in the past i've had debhanams/new look/mothercare/argos etc wouldn't have a clue now how to go about physically cancelling them tho!

I think i'll hold my horses and send off my electoral roll form - i may have been rejected because i've forgotten to send that back - if i can get a 0% card or 2 instead that would bring my balances down so fast instead of the majority of the repayments going to pay interest!

Pandas? Vicious man-eaters each and every one.


The pink text should have been a clue I guess

Yes, cancel all old store cards - you can write to them with your name and address explaining you no longer have the card but notice that you have an account open with them on your credit report.

You should check your credit report - contact details for credit accounts are listed on there - and confirm any other accounts that you can close. See the sticky at the top of the forum for how to get your report.

Definitely be on the electoral register to increase your chances of a 0% card.

saxysarah

LMAO!!! Now if THAT was the pic on my CC i'd have had no problems cutting it up!!!!
well i seem to be paying for access to my credit report as a DD so i need to find out how to actually access it and then check it and then cancel the DD its a minefield when ur as blonde as I am lol!