New Credit Application - Balance transfer

sivs

Hi All,
Just after a bit of advice. In december my 0% deal comes to an end and I will have a balance of 4K that I need to transfer.
Curently I have the following cards.

Naionwide limit £5380 balance nil

Barclaycard limit £3800 balance nil

Virgin limit £7800 balance 4K 0% deal until december

Amex limit £1600 balnce changes but paid in full every month.

First Direct £2500 balance nil

I am in the process of cancelling all my cards that I currently don't use, Barclaycard, Nationwide, First Direct.

Because I am cancelling all these card my ratio of debt compared to my limits will increase over 35-40% will this have a negative impact on my score . I am also worried that I might not get a limit high enough on my new card do you think I should get some keep one of the cards?

About me, I have not missed a payment in the last 6 years on any of my current accounts, mortgage or credit cards.
:j:j:j:j

scott_lithgows

I would keep Bcard open as they are good for a BT deal if no other new cards accept you in December.Never had a FD card so dont know if they offer deals.

I,m in much the same position (approx 4k debt but not missed a payment in years) I always try for the new better deals but keep a card in reserve just in case.

p.s try looking at www.creation.co.uk ,they are usually good for a high credit limit.

sivs

Thanks Scott_lithgows I was wanting to apply for a barclaycard 22 months 0% as they have the cheapest fee.

Guess the only way I will find out about by limit is apply in December and see.

Rupert_Bear

sivs wrote: »

Hi All,
Just after a bit of advice. In december my 0% deal comes to an end and I will have a balance of 4K that I need to transfer.
Curently I have the following cards.

Naionwide limit £5380 balance nil

Barclaycard limit £3800 balance nil

Virgin limit £7800 balance 4K 0% deal until december

Amex limit £1600 balnce changes but paid in full every month.

First Direct £2500 balance nil

I am in the process of cancelling all my cards that I currently don't use, Barclaycard, Nationwide, First Direct.

Because I am cancelling all these card my ratio of debt compared to my limits will increase over 35-40% will this have a negative impact on my score . I am also worried that I might not get a limit high enough on my new card do you think I should get some keep one of the cards?

About me, I have not missed a payment in the last 6 years on any of my current accounts, mortgage or credit cards.
:j:j:j:j

I would be inclined to keep BC because they offer existing customers promo rates and the same with MBNA cards.