CC balance transfer advise needed

Kaprikonka

Hi

I am looking for some advise please on which card with balance transfer is the better option for me
I have got barclays cc with about £3700 balance , the 0% period will expire soon and I want to move this balance to another cc ,I'm making regular minimum payments on the this card
I also got around £1700 overdraft with lloyds which I am struggling to pay off .

Which cc with balance transfer is the best option for me ?
I want to apply for Tesco one and also for MBNA ,but not sure how I can transfer my overdraft
Any advise will be appreciated.

Any

MBNA offers money transfer, which is the same as balance transfer but you can transfer it into your bank account. It has higher fees then balance transfer, but it counts as balance transfer as far as the introductory 0% period is concerned.
http://www.mbna.co.uk/choose-credit-card/

Question is whether with an overdraft like that you will get the card.. however if you have good history and no missed payments there is a chance. And also you were able to get the Barclaycard.. did you have the overdraft before?

Kaprikonka

Hi, thanks for your post

my error i have got Barclaycard not barclays cc

i will apply for MBNA

Thanks

Radshire

I'm in a similar boat here and wondered what people thought.

The facts:
I've got a Barclaycard with £7k on it and the promotion period is about to end.
I use a Tesco card (and pay off fully each month) for the points
I have an MBNA card with another offer balance on it

My credit rating is about 3 out of 5 stars (Medium risk) due to recent house purchase (hence debt on credit cards is for house works) and a personal loan for a car.

I used to have a NatWest card but cancelled this a out 2 years ago (and checked when I did that I could reapply for one from May this year)

The questions
What's my best option given my low credit score?

I don't want to ruin my credit score by applying for lots of new credit, but I dont want to pay a lot in interest? Will NatWest revert to my history with them to see that I used to make all minimum repayments before paying of the balance - and if so, is this my best option? Is there an amount I should target - or can it be a reasonable goal to obtain the whole £7 k in new credit?

Any help appreciated.

Kaprikonka

I have got now MBNA credit card with £2.400 limit , i would like to ask for increase limit to about £5000 would that change Term & condition of using balance transfer offer ?
and also how likely i can get that limit with annual income &16000
many thanks for your help

Eydon

They won't increase your credit limit yet. You'd need to wait for six months and demonstrate that you can use your account properly before they will consider raising the limit.

Also, you have a salary of £16000 and (unless you have paid substantial amounts of your original debts) you currently have £5400 of debt (£1700 overdraft and £3700 on your Barclaycard) plus another £2400 of available credit with MBNA. I can't see you getting any more credit until something gets paid off.

What is the credit limit on your Barclaycard?