balance transfer query

folam

At the end of December I transferred 60% of my Barclaycard balance to Lloyds for 24 months at 0% interest.
I have now been sent an application for another credit card (Tesco) with 29 months 0%, would it be wise to transfer the balance of the Barclaycard debt to Tesco as the interest rate on Barclays is 17.9%?
I would then have three 'live' cards all at 0% and I would close the Barclaycard. I wouldn't want to be refused the card as I understand this would have a negative impact on my credit rating.


Thanks in advance for any replies

[Deleted User]

folam wrote: »

I have now been sent an application for another credit card (Tesco) with 29 months 0%, would it be wise to transfer the balance of the Barclaycard debt to Tesco as the interest rate on Barclays is 17.9%?

Yes, if you want to reduce the interest you pay and don't think you be clearing it in the next 2-3 months.

folam wrote: »

I wouldn't want to be refused the card as I understand this would have a negative impact on my credit rating.

Declines aren't visible. It is the number of searches that can have a temporary negative impact.