Can get £8K for 6 months with no interest?

fredmila

Hello,

I have a top rating (or A rating or whatever the term is) on my credit score. I am a home owner but have no mortgage. I already have a credit card with £9000 credit limit but I do not like the interest; I pay the balance every month.
I need £8000 for up to 6 months and I wonder if I can do it with one of those 0% cards and avoid paying c/c interest.
I know there is information about credit cards in the site but I find the credit card world bewildering. I do not understand those things about debt credit card, card shuffling etc.
Can somebody advice if I can do this and which card(s) to apply for?

Thanks

BugsyBrowne

fredmila wrote: »

Hello,

I have a top rating (or A rating or whatever the term is) on my credit score. I am a home owner but have no mortgage. I already have a credit card with £9000 credit limit but I do not like the interest; I pay the balance every month.
I need £8000 for up to 6 months and I wonder if I can do it with one of those 0% cards and avoid paying c/c interest.
I know there is information about credit cards in the site but I find the credit card world bewildering. I do not understand those things about debt credit card, card shuffling etc.
Can somebody advice if I can do this and which card(s) to apply for?

Thanks

Depending on salary and no late or missed payments you will still struggle getting an 8k credit limit with 9k available, but with an A rating credit score you never know;)

chris-j

if you pay balance every month why care about rate?
no such thing as free lunch, with card transfer fees of 3% (which is normal), this is equivalent to an APR of about 6%. You could probably get a 1 year loan for same cost as transfer fee.

ahxcjb

BugsyBrowne wrote: »

Depending on salary and no late or missed payments you will still struggle getting an 8k credit limit with 9k available, but with an A rating credit score you never know;)

To put this in perspective, I have 3 credit cards with 6k limit on each - paid off in full every month. AMEX just approved my Platinum application with an 8.5k limit.

So, it's possible.

BugsyBrowne

ahxcjb wrote: »

To put this in perspective, I have 3 credit cards with 6k limit on each - paid off in full every month. AMEX just approved my Platinum application with an 8.5k limit.

So, it's possible.

Well I think this has now put the available credit cripple credit scores out of the window!

ahxcjb

You'll have to enlighten me on what credit cripple scores are..??

fredmila

Sorry, I did not explain clearly. I do not need £8K in cash now. I need it over the next 3 months but I would need to be able to make it on purchases or, if there is little or no charge, on cash advances too. I don't want to use my existing credit card, with a high interest rate, as I will not be able to pay until after 6 months.

My main problem is knowing which card will give me the highest credit. How to know? Unless I keep applying for cards until I build up the £8K but I do not want my credit score damaged.
There must be some 'historic' info on which cards give the must credit. Do people know?

ahxcjb

AMEX gave me the most credit, FWIW. Though, I have had my Barclaycard for 12 years, Halifax for 7 years and Tesco CC for 1.5 years.

planteria

getting the limit is possible, ive had overall available credit of c150k in the past

planteria

i have always found Amex tough to persuade to give good limits.
ive recently pushed them up to 5k, but ive been battling since 2004:o

fredmila

Is there a risk that, if I start applying for credit cards, and they only give me a small amount of credit, then I decide that I need a loan for the full amount, by the time I apply for the loan I get refused because of the credit score marks left by the credit cards?