New balance not high enough...

mrs_mug_2

We've got a BOS card which has just come to the end of the 0% period. We moved current accounts to A&L and gained £50 from quidco (yay) and also applied for their 0% cc.

Just got the papers through and the balance isn't high enough to do a full BT from BOS. We are £2k short. What would you do?

A) apply for another cc in my name
take the A&L card, wait until quidco have paid out their £50 then call A&L and ask for an increase (so paying interest on the BOS card until at least october)
C) transfer what we can, and keep 2% on the BOS card and call asking for a reduced interest rate..

Any ideas?

Luke

Don't A&L do interest free overdrafts for 1 year £2500? if so whats the problem?

mrs_mug_2

yip, we've got £1500 overdraft, which we've used most of it up (transfering other overdrafts and taken advantage of the 0% and used it to pay for our car insurance for the year).

Moggles_2

A) I would check your credit file first but, other things being equal, this is the best option.

You may be able to negotiate an increase in the credit limit, but you need to do this before activating the card and it will hold up your balance transfer from BoS. Once the account is open, A&L will not respond to your request until the end of the 0% promotional period.

C) BoS are unlikely to reduce the rate. This is one of the ways credit card companies make money. They draw in new customers with a 0% deal, knowing that some will be unable to pay up/shift the balance elsewhere, when the promotion ends.

Whatever you decide, I would definitely take up the 0% A&L offer and transfer as much as you can from the BoS card.