Balance transfer questions

Udai

Hello all,

I have posted on the Best Balance Transfer thread but I think I should be posting here perhaps, so here it is.

I am looking to shift about £20,000 in credit card debts,

1. Is there a max limit offered by these companies, as I cannot see it stated anywhere?

2. If I do not repay in full by the end of the agreement, can I do another balance transfer to a different company for the remaining amount?

Thank you.

zerog

1. Subject to assessment of your circumstances

2. Yes. You can BT again straight away if you feel like paying another fee.

grumbler

Udai wrote: »

I have posted on the Best Balance Transfer thread but I think I should be posting here perhaps, so here it is.

I am looking to shift about £20,000 in credit card debts,

I think you need to earn about £70K+ and have no any other debts for hoping to get £40K total available limit on CCs. Otherwise your are likely to be deeply disappointed after your first application.

1. Is there a max limit offered by these companies, as I cannot see it stated anywhere?

I don't know any table with such information and the limit you get depends on far too many factors.

2. If I do not repay in full by the end of the agreement, can I do another balance transfer to a different company for the remaining amount?

Why not? - if you can get a new card with 0% and sufficient limit.

ETA: for maximum limits see: http://www.money.co.uk/credit-cards.htm?t=571524&u=1ea8b3a4650- if you think it is of any use to you.

thenudeone

I transferred £9.5k to Natwest at 0% about a year ago, and have had over £20k at one time at 0% with mbna (in pre-credit crunch times) so it's possible, but it all depends on your circumstances.

It doesn't matter that much, though. Even getting a proportion of the debt on to 0% allows you to pay off the rest even quicker.