sub prime credit cards

sroper45

Hello Guys,
I have a capital one progress card at the moment which I might close. It has a limit of only £200 pounds on there. I have recently been accepted for a barcaley card initial with a £800 pound limit which i was very surprised by. its it work while be transfering the balance on the capital one and putting in to the over card?

sharpy2010

Erm, sorry?

sroper45

I just want to knw if it would be worthwhile transfering my balance from capital one to the barcaley card

blitzboy

It depends if the interest rate (APR) is lower on the Barclaycard than on the Capital One card.

If so then yes it is worth moving the debt, but for such a small amount I wouldn't bother with a balance transfer due to the fees. Instead I would put usual day-to-day spending such as petrol & food on the new card (up to £200) and then use the £200 that would be in my bank account to pay off the Capital One card.

Again, this is only if the Barclaycard APR is less than the Capital One card. If not then it makes sense to keep it on the Capital One card. Or even better, pay it off altogether

CLAPTON

sroper45 wrote: »

I just want to knw if it would be worthwhile transfering my balance from capital one to the barcaley card

surely with these small sum of money but very high interest rates you should be paying the balance in full each month

camuk81

How long have you had the progress card, Both the cards start at 29.9% but the progress drops every six months. So if you aree leaving a balance and the apr has dropped it doesn't make sense to change cards