What to do with multiple cards?

Karb

Ok, I know I've been silly and racked up a lot of credit card debt, but I'm now trying to do something about it. In the past I've shuffled debts around as new 0% deals have been introduced, but now I'm being declined when I apply for new 0% deals.

I currently have 6 cards, made up as follows:
One (was Egg Money, now Barclaycard) that is clear, has a limit of £1000 that I am keeping in case of emergencies
One (Vanquis) that I pay off in full each month
Two (Mint and Egg) that are closed, but I'm still paying off the outstanding balance
Two (First Direct and MBNA) that are open, and while not at the credit limit for the card, are something in the region of 80% of the way there. I do sometimes need to use these for everyday spending, as I have to work away a lot, and run out of cash until my expenses get paid, but I try not to use them now unless I absolutely have to.

Aside from the obvious (i.e. doing it purely by interest rate), is there any other thing I should be considering? Is there any benefit to clearing the open cards before the closed cards or vice versa?

CLAPTON

overpay as much as possible on the card with the highest APR

and

would it be possible to use a seperate card for your expenses and can this be cleared in full when you receive your expenses so paying no interest.

flowerpot28

I wanted to do a similar thing, I had 4 cards all with some balance on them. I signed up for the free trail on experian and got them to recommend a balance transfer card. I applied and got enough credit limit to transfer them all on to it on a 0% balance transfer offer.

It might be worth a try?

Karb

CLAPTON wrote: »

overpay as much as possible on the card with the highest APR

and

would it be possible to use a seperate card for your expenses and can this be cleared in full when you receive your expenses so paying no interest.

Thanks Clapton

I try to use the Vanquis card which I do pay off in full, but I only put enough on there that I'm confident that I can pay off. Anything else goes on the FD or the MBNA cards.

I really want to be in a position where I can start getting accepted for new offers, so anything I can do to achieve that is really going to help me,

xyellowx

karb - pay card with highest apr and throw everything you can spare at it keep the other cards to min payments once you have part paid it of or in full ask what rate for a balance transfer then keep repeating and keep pushing c/card company for a better deal. keep phoning on a monthly basis asking for a better rate or balance transfer