I need your expert help before I apply for a new CC

glittermonster

I've got a reminder in my diary to try and get a new interest free CC next weekend.

My Santander card comes to an end of being interest free at the end of April and with a 6 week period to apply and BT monies over I'm applying this coming weekend for a new card.

I Owe:
Santander - £2,157 (min payment is 1% £22)
Tesco - £3,311 (min payment £67 - I pay £230 - charged £53 interest)

As I am a barclays customer I was going to logon and try and get a barclaycard - they've just increased their interest free period to 18months - and hope to transfer as much as possible.

I earn about £28k gross and I see on their website they suggest applicants have 10% of their annual earnings on credit cards - so
FIRSTLY is it even worth me trying - or could they accept a bigger balance as its for a transfer?

SECONDLY are there any other credit cards that I should consider as an alternative.

I'm really nervous - I have a plan to try and clear them all within just over a year but this relies on me being able to get both on interest free, at the moment I'm only paying interest on the tesco card.

Any other thoughts from you kind people would be gratefully appreciated!

DizzleUK

First thing's first. Try the Barclaycard pre-application checker to see if have any chance of getting the card you want. This does a soft search on your file, invisible to other lenders.

If you don't qualify for that card then you have saved yourself a full search when applying elsewhere (more searches could lead to more declined applications or lower limits if accepted. Sometimes.)

The pre-application check won't tell you what credit limit you are likely to get though.

*EDIT*

Beyond that, if you have an impeccable credit file, you could look at the Nationwide Gold card. You need a £25k+ income (which you have) and it comes with a 15 (I think) month 0% transfer period.

glittermonster

DizzleUK wrote: »

First thing's first. Try the Barclaycard pre-application checker to see if have any chance of getting the card you want. This does a soft search on your file, invisible to other lenders.

If you don't qualify for that card then you have saved yourself a full search when applying elsewhere (more searches could lead to more declined applications or lower limits if accepted. Sometimes.)

The pre-application check won't tell you what credit limit you are likely to get though.

thanks - will I find that on their website?

DizzleUK

glittermonster wrote: »

thanks - will I find that on their website?

https://letmechoose.barclaycard.co.uk/

glittermonster

I've looked at that website - thank you - and it says I would probably be approved - and it gives a guide of a credit limit.
Does anyone know if this estimated credit limit would prove to be true?

ironlady2022

Depends, what are your limits on your existing cards?

glittermonster

£3,600 on each of them.

They say on this site a limit of £1,500. With a 80-9% chance of approval.

pinkarsenalprincess

I'm glad I have found this thread as I was wondering the same thing!
I have £3600 to transfer and was really hoping to do this with a barclaycard. However, after reading the bit about 10% of income and the card having a £1500 limit I can't see this being a success!

glittermonster

Maybe some other people have other suggestions?

DizzleUK

I believe the credit limit they put on the site is an "assumed limit" which is not necessarily what you will end up with. I would treat it as a guide only.

If the website is giving you a 90% chance of acceptance, I would to a telephone application and they should tell you your limit at the end of it, then you can decide to go ahead or not.

If you apply online you may find you have to wait a week or so before knowing exactly what your limit will be.

glittermonster

Thank you Dizzle (again)!!