Balance transfer

Barbel

Hi

I have an £8500 balance on a credit card, I would like to balance transfer to another card, I have tried two credit cards and come back with smaller cerdit limits (£1500).
Is there a card where I can transfer the whole balance, or could someone give me some advise please.

Thank you

[Deleted User]

Probably not, if lenders are seeing you as too much of a risk to give a higher limit to. Some lenders may be more generous, but the limit is still going to be dictated by your risk profile. Having £8,500 debt already will make lenders nervous about giving you more credit.

You may want to take what you're being offered and transfer what you can.

thenudeone

Transfer 2 x £1500 = £3000 (or a bit less because you need to leave 5% free). That's nearly 60% of the problem solved.
I presume the new cards are at 0%.

Use they money you save in interest charges to pay off the remaining balance as fast as you can.