multiple cards advice

bacardipj

Hi,

I hope someone can advise me as to whether I am doing the right thing...I currently have approx £1000 debt on an M&S cc that expires its 0% period in June. I am sure I can meet this debt by then and have paid the minimum amount monthly on time as well as other payments in order to chip away at it. However I have a few things coming up next year that I would like to have another credit card to pay for (family weddings and birthdays, etc). So I was looking to get another cc with 0% interest to pay for these things and then just meet the minimum repayments on this one, whilst concentrating on paying the other off in full before June. If I were to have more debt on my original card I wouldn't be so confident I could pay it off before the 0% interest period, not sure whether this is the best plan as I am getting differing advice on this on how this will effect my credit rating.

Thanks for any response...

sfax

Regardless of the number if cards, paying only the minimum payment is not a good idea for your credit rating. Always pay more, even if only £1 more

A 0% purchase card is probably right for you but make sure it's paid off before the 0% period ends

chanz4

1000 / 5 months (giving ample time) = 200 a month then save for the other things