Advice on balance transfers?

sgtivypie

Hi All,

after years of having poor credit due to getting myself in debt as a student I have finally managed to work my way to a better place and pay some debts off. I recently managed to transfer my Capital One (39.4% interest) balance to a Barclaycard 0% interest for 30 months. I am due to finish work and have a baby anytime now and will end up on the Government maternity allowance and tax credits. I'm sure this will mean that I won't be able to manage to pay more than the monthly minimum payments which will mean that the balance will not be paid off completely by the time the 30 months has ended. I was wondering if I will then be able to apply for another 0% card with another company and transfer what is left of the balance? Or will it just need to stay with Barclaycard and I'll continue paying but with interest added? Sorry for asking what is probably a very daft question but I've never done anything like this before.

Thanks

grumbler

The question is whether you stand a chance of getting accepted, not whether you can apply.
The answer depends on many factors, mainly the history, income, credit available and used.

The chances are slim if the income is small and the available credit is big. Have you closed C1 account?

You can try MSE's eligibility tool

sgtivypie

Yes the Capital One account is fully closed. My credit rating is now good and I am determined that it will stay that way.
I was more wondering if I am allowed to do that at the end of the 0% interest term rather than if I will be able to.

Alexd52

grumbler wrote: »

The question is whether you stand a chance of getting accepted, not whether you can apply.
The answer depends on many factors, mainly the history, income, credit available and used.

The chances are slim if the income is small and the available credit is big. Have you closed C1 account?

You can try MSE's eligibility tool

Yes you would be allowed to do that, but the above may factors will have their effect on chances