Large credit card debit best way to shift to 0%

Jodie_b_2

I've got £8500 debt on a credit card. Most 0% offers I see state "based on £1200 of credit". Which is the best card that will accept my debt with the longest 0% offer and the lowest transfer fee?

YorkshireBoy

£1,200 is the industry standard figure used by lenders and is for illustration purposes only. Your credit limit will be based on your own circumstances.

As to which card?...well one that isn't run by your existing card provider. And since you haven't said who they are, the two best options are:

1. MBNA
2. Your bank (the one that receives your income and knows more about your financial circumstances than anyone else)

You say you want both the longest 0% intro period and the lowest fee? Well you're not going to get both on one card...so it's a trade-off. But at £8.5K I'd suggest duration is more important than % fee?

Swampy3k

Hi Jodie, I doubt you will find 1 card which will take all your debt unless you have a great credit score, may try and split your money between a few cards on the longest 0% which means you can pay it off quicker, I can imagine you are getting alot of interest on 8.5k

Jodie_b_2

Hi,
Thanks for your advice. The 8.5k debt is currently on MBNA. I appreciate that I won't get best of both but I'm struggling to work out which trade off is best. I do have 100% credit rating and have never ever missed a payment on anything ever! I am considering splitting it onto a Barclay card I also have with £0 owing on it. Recently when I asked to transfer the whole amount it seemed no cheaper each month with a large transfer fee...however I guess at least I'd be chipping away at the sum rather than paying stupid interest. Currently I'm paying minimum at £184 per month ..eek, hence I badly want to move it.

Morglin

Halifax often give larger limits than most, and are doing deals on transfers, so that might be worth a look.

Lin