£3600 on cards - Best BT for me?

viks10

Hello, I am trying to sort out my finances, not very organised you see, so needing some advice.
Had a wee problem with my credit history last year and dont want to screw it up, now that is says it is at 999 - whatever that means.

Anyway, I have £1688 outstanding on a MBNA card (.9451%) and £1933 on a Barclay card (19.99%), paying back just above the minimum.

I want to do a BT to get a better rate but not sure which is the best option for me, I tried phoning them both but they wouldnt give me a better deal.

The problem is I only earned £7900 last year self employed so not sure if I would pass any credit checks for these amounts.

Any advice would be grately received.

Viks

[Deleted User]

you already have 50% of your income as debt,so highly unlikely to be offered anything from anyone,they dont take into account that you want to pay off existing debt as they cant force you to do that once they give you the new card

platterfish

You could try nationwide and see what limit their soft search will give you, you can soft search without marking your credit file, if you decide to proceed it will either accept or decline you, but at least you'll know the limit before you give it a shot.. they have a 0% BT offer for 20 months with a 3.1% fee, hope that helps

chattychappy

viks10 wrote: »

Anyway, I have £1688 outstanding on a MBNA card (.9451%)

If that's 0.9451% a month, then that''s 11.9% APR which isn't bad. Is it a standard rate? Or a life of balance rate? Even better if its your annual rate!

Do you have any spare limit on your MBNA card and is this rate available for BTs? If so (and can't get another card) then transfer as much as you can from Barclaycard to MBNA. Once you clear the Barclaycard you will likely get a special offer from them. You can then consider transferring some back.