Help..Virgin limit question

myfairlady

I recently applied for a Virgin credit card so that I could transfer the balance of my two other cards onto it. Only problem is the balance I want to transfer from my Halifax and my Egg card totals £13,000 and Virgin gave me a £10,000 limit. Does anyone have any suggestions of what I could do with the other £3k rather than paying the interest rate.

Also, would I be better closing the other credit card accounts down? I need to rely on credit until I can sell my house so what would be the max number of cards I could have before it will affect my credit rating?

Thank you so much for your advise. What a great website this is!

michael19_2

Hi

Can't you ask Virgin to increase your limit explaining you want to transfer the £13k to them ?

If you decide to close the others down they may offer you an incentive to keep their card then you would be able to have the £3k at a promotional rate

Failing that you could try applying for another credit card as it may not affect your credit score as badly as you think

HTH
Michael

myfairlady

Thanks Michael, I forget I can speak to these people!

BLACKHURSTM

MYFAIRLADY, are you married,if so get your partener to get a virgin card and transfer the £3k into his card

sicker

When my Halifax Classic 0% was about to finish I rang them and they immediately transfered the balance to a new Halifax One card with a new 0% for a further 6 maonths.
Speak to them before you do anything else, you could be lucky. They also increased my credit limit from £3500 to £4150 right away.

Best of luck

John.

myfairlady

Thank you for your help guys. I called Virgin but they wouldnt raise the limit above 10k. I will give Halifax a call and see if they will transfer me to another card (good tip Sicker).

Edit: Halifax said that as I have a halifax one card they will not offer me any other deals....mmmmm, so now I have to decide whether to go for another BT card or just pay the interest at 9.9 from halifax.

Does anyone know how many cards you can apply for before it starts to affect your credit? I have opened 3 in the past year.

michael19_2

I dont think the question is how many affect your rating but how often you have applied.

I know some stoozers on here say that they maybe wait a month or two before applying for another card once they get one accepted. So it really depends when you last applied for your most recent card. Even then I think it is worth the chance so you dont have to pay 9.9%

Michael