Advice please re: what card to apply for

fishingcinema

Hi all

I am looking to take a loan of nearly £5k against my 2 credit cards.

I have a capital one classic card with a limit of £2100 currently using £395.

And a barclaycard initial just raised my limit to £2500 currently using £1026.91.

Not too sure if it is relevant but i also have 3 catalogue two have limit of over £1000, both with £0 on them, and another catalogue with a limit of £2,000 with a balance of £70

I did a 0% balance transfer last year from my cap one to barclaycard, have saved the money up and plan to pay both cards in full before i take the cash against them.

I know this is not the ideal thing to do as will be charged to take cash against the cards, but is needed to get me and my 2 children into a new safe home. and there looks like no possibility of a personal loan.

I would like to apply for another card so i can do a 0% balance transfer, would be great if i could get 2 cards but i think i am being too hopeful.

What would you say would be the best card to go for and most likely be accepted for, bit of background history. no missed payments on any of my accounts, but unfortunaly had a dispute with my water company in 2008 they took me to court for £186 and i got a ccj, i paid the ammount and it is now showing as settled, this ccj happened before i got accepted for my 2 credit cards.

My income is low £10,000

I would realy appreciate peoples opinions as do not want to go doing lots of applications and have lots of searches on my credit file.

Many thanks in advance.

kerri_gt

I'm sorry to say but based on other similar threads I've seen, you're unlikely to get accepted for more credit. Even if your CCJ is discounted, your current available creidt to salary ratio is already 86% (note that it's not the current outstanding blance that is taken into account, it's the credit limit on the cards) which means you have no liklihood of being accepted for another card.

I don't know your exact circumstances but is there anyone you can borrow the money from for this emergency situation? Have you spoken to your local housing association or citizens advise regarding your situation and the need to move?

Just as a side thought, if you're not using the credit on your cards, why not cancel the ones with £0 on and reduce the limits on the others - just a concerned thought that if you become tempted to use them in the future you could have real difficulties paying them off on your current salary.

fishingcinema

kerri_gt wrote: »

I'm sorry to say but based on other similar threads I've seen, you're unlikely to get accepted for more credit. Even if your CCJ is discounted, your current available creidt to salary ratio is already 86% (note that it's not the current outstanding blance that is taken into account, it's the credit limit on the cards) which means you have no liklihood of being accepted for another card.

I don't know your exact circumstances but is there anyone you can borrow the money from for this emergency situation? Have you spoken to your local housing association or citizens advise regarding your situation and the need to move?

Just as a side thought, if you're not using the credit on your cards, why not cancel the ones with £0 on and reduce the limits on the others - just a concerned thought that if you become tempted to use them in the future you could have real difficulties paying them off on your current salary.

Hi there

Thanks for taking the time to reply to my post.

Unfortunaly there is no one that could lend me that sort of money, i have spoken to my housing association on several occasion as has my mp, it has been a nightmare 6 yrs here of fireworks being set off yards from the windows, stones being thrown, bins being set on fire, cars set on fire, me being very ill, i have tried every avenue with housing association so i need to get myself out, i know it is a big mistake to give up a housing association place but if it means that me and my childeren are safe then so be it.

I only have 2 credit cards the other 3 are catalogues, i sometimes get tempted but give myself a little reality check and do not bother buying.

Thanks for you reply it is appreciated.

kerri_gt

I'm so sorry you are in this situation where you do not feel safe in your own home, and furthermore I am sure your childeren are suffering as it's not the kind of environment you wish them to be exposed to (quite rightly). I'm really no expert on the best solution, perhaps if you put a post on the housing section, someone might be able to advise if there is anything else you are able to do. Do I assume correctly that you are looking to rent privately if you cannot be rehoused by your HA? As well as the lump sum needed to move, this will be an ongoing expense, are you sure you won't be overstretched financially with this? Is there any possibility of increasing your hours in your current job, or finding one that could offer a higher salary perhaps?