Credit card advice needed

MSJFH

Hi hoping someone can help, I have £4000 debt on my barclaycard visa credit card and have been trying to get it on a o%. I have 2 x credit cards (1 x visa (£6000limit and 1 x mastercard £6000 limit) with barclaycard and 1 x Halifax but the limit is only £1550. I have transfered £1400 from barclaycard visa to the Halifax card with limit of £1550 at 0% for 17mnths so now have £2600 debt on visa at 16.9%APR. I have now been offered 0% balance transfer on the barclaycard mastercard for 6mnths. My question is can i now transfer the £1400 on the halifax card to the barclaycard mastercard and then a futher £1400 from the visa back on the halifax 0% card. Thus meaning my debt to VISA is now only £1200 at 16.9% but £2800 is now on 0% split between mastercard and halifax?

Hope that makes sense be grateful of any feedback as This is the first time i've been in a position where I am struggling to pay of large enough amounts to bring the debt down.

Thanks for reading

Jeanette

SCO

MSJFH wrote: »

Hi hoping someone can help, I have £4000 debt on my barclaycard visa credit card and have been trying to get it on a o%. I have 2 x credit cards (1 x visa (£6000limit and 1 x mastercard £6000 limit) with barclaycard and 1 x Halifax but the limit is only £1550. I have transfered £1400 from barclaycard visa to the Halifax card with limit of £1550 at 0% for 17mnths so now have £2600 debt on visa at 16.9%APR. I have now been offered 0% balance transfer on the barclaycard mastercard for 6mnths. My question is can i now transfer the £1400 on the halifax card to the barclaycard mastercard and then a futher £1400 from the visa back on the halifax 0% card. Thus meaning my debt to VISA is now only £1200 at 16.9% but £2800 is now on 0% split between mastercard and halifax?

Hope that makes sense be grateful of any feedback as This is the first time i've been in a position where I am struggling to pay of large enough amounts to bring the debt down.

Thanks for reading

Jeanette

Why not try and get another card with a high enough limit to transfer the whole amount?

Every time you transfer you get charged a fee, the least amount of times the better.

Try Sygma (Creation) credit cards they tend to give high limits and accept easier.

MSJFH

Hi

Thanks for the response and understand where you are coming from and that was the plan, however I applied for the Halifax card thinking i would be given a higher limit - I then applied for another card but was refused - I don't want to apply for yet another as i don't want my credit score being detrimentally affected if i'm refused again. I have been with barclaycard for 20 years hence why the limit is higher but my circumstances are that my income has drastically reduced, just need to find a way to reduce my outgoings until i get back on my feet.

SCO

MSJFH wrote: »

Hi

Thanks for the response and understand where you are coming from and that was the plan, however I applied for the Halifax card thinking i would be given a higher limit - I then applied for another card but was refused - I don't want to apply for yet another as i don't want my credit score being detrimentally affected if i'm refused again. I have been with barclaycard for 20 years hence why the limit is higher but my circumstances are that my income has drastically reduced, just need to find a way to reduce my outgoings until i get back on my feet.

see if halifax will increase your limit.

MSJFH

Decided to apply to card you recommended and been acepted so big thankyou for your advice. Will give me the breathing space i need. :T