which card question

zoomy

Would appreciate some advice...

I currently have
-Virgin card with balance on 7.5k limit, 7K balance (at 0% until Apr 2013)
-M+S card 6.5k limit used for spending and cleared every month
-Barclycard Platinum - 9.5k limit clear (BT'd to Virgin a couple of months ago)
- Evans storecard 0.5k limit and only used for spending in Evans

I currently have a big bill to pay for a car repair (2.5k) so could do with a 0% spending card to spread the cost a bit but am concious that I'll also be wanting another BT deal next April.

If I cancel my barclaycard now is there any chance of re-applying and getting a new one next April? If not I don't want to pick a new card now that will impact on my ability to source a good BT card in April

Curr946

will it be raining next year on April 5th??? exactly, who knows if barclaycard will offer you another card next year.

However, I had an egg card that was sold to BC however, i had already BT to virgin. I closed it in November 11 and just secured a new platinum card last month again with BC. So, you should be considered as a new customer if you close now.

Tixy

Have you checked whether M&S or Barclaycard will offer you an existing customer 0% on purchases deal right now? Or even a balance transfer deal right now (as you could buy on 1 and then transfer to the other).

Barclaycard & M&S both treat you as a new customer after your account has been closed for 6months (could sometimes be earlier but 6months is a safer bet). After that you'll be eligible for new customer deals - but obviously will be subject to status in terms of whether you'll be accepted, what limit you might be offered etc.

zoomy

Thanks both - the 6 months to be treated as a new customer was what I was after - will cancel Barclaycard now and re-apply in March/April ... unless they offer me a 0% on purchases deal when I go to cancel!

I don't really want to do a BT for the car repair - it will only take me about 3 months to clear the debt and with the BT fee that doesn't make the borrowing that cheap ... I suppose I could stooze against my mortgage for a bit to make up for the fee but don't really want to get into the habit of having balances on more then 1 card for too long... it's far too easy to forget you need to repay and start spending the money!

Horseunderwater

If it were me, I'd close down both the CC's with no debts on them and clear some of the 0% earning debts from remaining Virgin card. I assume that if you pay for car repairs on virgin card then some interest will apply. Work out how much and long it will take you to clear that bill as the lender applies the payments to interest bearing first, then interest free. Then when you need to move remaining balance you'll be able to do that in 6 months+ easily.