Credit Card Balance Advice

chrisuk_4

Hi

Looking for a bit of advice please. I have currently have £6300 on my Barclaycard at a rate of 5.9%. I also have £300 on my Alliance & Leicester Card which I have just closed, so will be paying/moving this off soon.

I would like to get all my debt onto a long term 0% and I see Barclays are offering the 0% thing till next year, but obviously I am an existing customer so don't apply. Is there anyway to get around this or would I have to try and transfer the balance on the Barclaycard and transfer to another card, then re-apply for a Barclaycard, by which time the offer will have probably gone!

Another ideas on what I could do would be appreaciated, bearing in mind that my stumbling block maybe that when I apply for a new card, they probably won't give me the credit limit required to transfer the full debts.

BTW, my current credit limit for Barclaycard is £7,300 and the Alliance and Leicester one was £10,400.

Thanks for any help.

Cheers

Chris

realaledrinker

I suggest you get the A&L card paid off, then phone up Virgin (both A&L and Virgin cards are run by MBNA) and see whether they will consider you for a card, transferring the A&L credit limit over. Many posters on the board claim to have done this sort of thing.

If successful, Virgin offer 0% for 9m with no fees in the introductory period, so that's you sorted.

Barclaycard are a waste of time in my view for BTs as, even if you were able to somehow get a 0% deal, BTs are limited to £5K and carry a 2% charge.

YorkshireBoy

realaledrinker wrote:

Barclaycard are a waste of time in my view for BTs as, even if you were able to somehow get a 0% deal, BTs are limited to £5K and carry a 2% charge.

Don't want to be pedantic, but in the interests of accuracy I picked up a leaflet yesterday and it shows the initial BT is a rather large 2.5%!!! Subsequent BT's are 2% though.

chrisuk_4

Thanks for the advice, will give Virgin a call and report back.

Cheers