Still looking for advice

Littlemiss-lotsofdebt

Hi guys, I posted this recently on the credit cards board and was told to get another card but I want to try and avoid this, so thought I'd try and pick your brains!

Hi Guys

I'm starting early with this but am determinded to pay off some more of the dreaded CC's in 2007.

I have 3 cards at present:

RBOS - £2130.00 @ 0% until 25 Jan '07
Barclaycard - £5425.17 (I stupidly withdraw money from the ATM with this 3 years ago and then spent on it so have 2 rates on this balance) 12.9% and 22%
Virgin - £1904.77 @ 12.9%

Rather than get another card, I was thinking of balance transferring as follows:

Move £2100.00 from Barclaycrd to Virgin @ 0% until July '07
Close RBOS and move £2130.00 to Barclaycard @ 6.9% for life of balance

Would this work? I would then be left with 2 cards with balances at varying rates but I really don't want to get another card (and I may not even get one TBH). If I do this, which card do I chuck the cash at?

Many thanks xxx

Ali-OK

Hi :wave:

The problem from what you've posted, is that you don't have a credit card with a zero balance in order to take advantage of the 0% and 6.9% deals you mention.

First question, have Virgin offered you 0% for a BT with the balance you currently have on it?

Next question, is the same, but for Barclaycard, ie. have they offered you 6.9% LOB on the current balance? If they haven't, you could always ring them and ask if there's any LOB deals they will do given your current balance with them.

The deals you talk of sound like deals you have seen advertised, but do remember that these are to entice new customers, unless you can get a repeat 0% for 9/12 months, but then you need to have paid off any balance before you'll get it.

james32_uk

Careful because it will be in the T&Cs of your barclaycard that the high interest cash advances will sit right at the bottom of your balance and so will be the last credit you pay off. Therefore you could do with clearing your Barclaycard before moving your balances around if possible.

Littlemiss-lotsofdebt

Thanks guys.

Virgin have offered me a 0% deal on a new balance transfer and the same with Barclaycard. The Barclaycard is the biggest headache I have and I would love to have rid of it but when I initially took the RBOS one out they wouldn't give me a big enough credit limit to transfer it across.

Back to the drawing board!