Transfering 2 balances

Nara

Hi all need some advice,

My partner has 2x credit cards, one is a Virgin and the other is Halifax.

We are now paying stupid amounts of interest on these as the 'deal' has run out, my partner had been out of work for 11 months after being made redundant, we kept up minimum payments on both throughtout this time.

My partner likes to bury his head in the sand and just keeps paying small amounts off so after interest we pay about £2 a month off :mad:

I am not very knowledgable about finances but I'm fed up with having these debts hanging over us all the time.

So question is, we owe approx £7000 on these cards added together, is there a good 0% interest card i can try to apply for? and since my partner has only been in his new job for a month would this affect us applying? hes on a good wage now but i don't know how they make up their minds about who can have a card and how much the limit should be, ideally i would like to combine the two cards onto one, but realise this may not be possible.

Any advice?

tompointer

My hsband and I have just opened up Tesco credit card and transfered the balances of two MBNA cards.

The tesco card is intrest free for over 12 months.
It was also easy to apply online.

[Deleted User]

What are your salaries, debts, payment history etc like??

Nara

Hi thanks for the quick replies,

Our payment history is good as far as I am aware we have never missed a payment. His salary is £37000 a yr and mine is £5000 a yr, our debts are a mortgage and a loan of £6k. I have been looking at the Tesco's one and it looks quite good, maybe if we apply as a joint couple (can you do that?) we will have more chance? before the credit cards have always just been under his name.

[Deleted User]

I'd have thought he would stand a reasonable chance of getting a card . Income 37k , debts 13k. His employment status may hold him back a bit.

You may be able to put household income shown on some applications that could include your 5k, but it won't make a huge amount of difference. 37k is a good enough salary to get over most hurdles, and not having missed payments is good news.

Regardless of whether you get a card with an 0% offer (and you probably won't get the full 7k limit on a single card), are you planning to pay as much as you can each month now he's working again?

Nara

Yes I am planning on over paying as i want to get rid of this debt, I just want to be able to pay it off quicker and so no interest is the way to go!

If i can't get the whole 7k on one card i will transfer as much as the limit allows and then try and pay off the rest stuck on an interest card as soon as possible.

[Deleted User]

Also remember that you can transfer balances from one of your cards to the other, without a fee. What are the rates and what your balances and limits on each?