Advice please on BT Card

learningaboutinsurance

i have been on this website but mainly on the motoring and Insurance boards. in the last couple weeks i have going through the paper work on my Credit cards and wanted to put the outstanding balance on a BT card (preferably barclaycard because of the 24month 0% BT).

I currently have Halifax CC with a balance of £510 which i pay the minimum every month (haven't used it in about 4 years) but because of the interest rate the balance is only coming down by £5 each month

i also have a HSBC CC with about 1300 on it and i also pay the minimum

I pay about £50 every month on both cards but the balances on both are only coming down by £12 for both the cards. do you think i will able to get a BT card with 2k limit just for this.

i am employed and earn 27k with no other loans or debts, but have a finance agreement in place for apple laptop through Barclays which went through easily and have not missed a payment and also 2 line mobile phones which i pay £60 a month paid every month maybe a day or 2 late but always within the month.

what are my chances of getting this BT Card?

sistafromanothermista

I can't see why you wouldn't but then who knows....
Maybe go through the soft quote on Nationwide website this may give you an indication.....

I would say though, if you earn 27k a yr surely you could pay those balances off by overpaying?

[Deleted User]

might be an idea to look for a low life of balance deal

learningaboutinsurance

sistafromanothermista wrote: »

I can't see why you wouldn't but then who knows....
Maybe go through the soft quote on Nationwide website this may give you an indication.....

I would say though, if you earn 27k a yr surely you could pay those balances off by overpaying?

Thank you for your reply, Can i ask how i would go about doing a soft quote as i was on their website and couldn't see how i would do this without formally applying for CC

i do but some of my outgoings have become more priority at the moment hence i would like to go on to a BT card so this way the 50-60 pounds i will pay will all go towards paying down the balance rather than on 12-13 pounds going and the rest going on interest

learningaboutinsurance

woodbine wrote: »

might be an idea to look for a low life of balance deal

I am a noob when it comes to CC language. do you mean the CC's that have a small % Interest rates for the late of the balance? sorry

sfax

Don't pay only the minimum. Pay over the minimum even if it's only a £1 over. Your credit rating is likely to be adversely affected if you only pay the minimum amount

No harm in applying if you don't need to apply for anything else in the next 6 months.

learningaboutinsurance

A quick Update:

Thank you all for the advice, have just been accepted for a 5k limit on the Barclaycard 24 months 0% BT.

I intend only to use this as a BT card to pay down the Balance and not use for any think else.

not that i will apply for any new credit in the next year or so but is there any CC's that are good for spending say for a holiday and that have a long 0% interest rate?

learningaboutinsurance

ohh sorry wanted to add, hopefuly with the 0%, and me paying 50-60 squid each month my credit rating also becomes really good