Need help with balance transfer


I hope someone out there can help.

I have a MBNA credit card. My balance is £3,832.11. Interest a staggering 29.3%

I am self employed and had a couple of very good regular clients over the last couple of years that has kept me in good income. I lost these two big accounts last year. I have since struggled to pay off the amount on my card. I have had a few last/missed payments which I fear has effected my credit score.

I see from the balance transfer page these is an example on how balance transfers work. My concern is who is going to take my almost £4K balance. I pay over £100 per month and most of this is interest. If I was to get a o% balance then I could pay the card off within 2 years.

What is the best way to approach other companies to explain that with a better rate I can make regular payments. Also who is likeley to offer me the full balance transfer?

Any advice would be greatly appreciated.



  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    First Anniversary Photogenic Name Dropper First Post
    If your credit rating is in bad shape, then you almost certainly won't get a decent 0% deal. But you'll need to give details of what your files say for a more informed view.

    In the meantime, you need to throw as much as you can at the debt and cut costs elsewhere - the DFW board is a good place to start.
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