cards with 0%?

edited 30 November -1 at 1:00AM in Credit Cards
1 reply 1K views
bwatt00bwatt00 Forumite
911 Posts
edited 30 November -1 at 1:00AM in Credit Cards
I have 3 credit card all with money to pay back on them and also 2 other cards which are not being used and not worth using at this time, none of them are 0% and i would like to get a new card or cards to get a 0% so i can try and get them paid off and or pay no interest on what i am paying with the 3 cards above but the problem is they are a little high and i dont think there would be a new card that would match there balances.
But it still would help if one or two of the above cards where transfered to 0%.
What i need to know is whats the best 0% card at this time and longest 0% i looked at virgin but do they give high limits for first timers,also does it effect me if they know i have money due on 3 cards and a loan and does this effect it?
And the most important can they or do they check your working as i am not at this time but hope to soon,but i am still paying my cards and loans, i would not want to apply for new card/s and find out that not working effects the application.

I also have a little money coming and i have a flex loan would i best pay the money into loan and then transfer as much money from my cards as possible to the loan as its lower interest than the cards would be or would i best just pay off the highest cards first.

Thanks for any help on this i needed to sort out my debts this year and i will.
Treat everyday as your last one on earth! and one day you will be right.

Replies

  • ReaperReaper Forumite
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    Part of the Furniture 1,000 Posts Photogenic
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    If you are not currently working you will find it hard to get a credit card. The companies will look at your income and compare it to your debts (as reported by the credit reference agencies) when deciding whether to give you one. If you have any other sources of regular income than that will do fine, otherwise I think your chances are not good.

    Instead if you have flex loan with a lower rate of interest then you should certainly transfer your debts there, starting with the credit card which is charging you the highest interest rate.

    I suggest you also read Martin's article Where to start with problem debts as it lists this and other principles you can follow to reduce debt. Good luck.
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