swapping to another 0% card ???

paulasgems

I have a card that's 0% which the time is up in Jan.
It was one emergency after another with every intention I'd pay it off before Jan but the family crisis has just kept coming!! I now have £5000 to pay back by Jan, not possible. Can anyone tell me would I have difficulty in getting another 0% card before then? When would be best to apply do you think? I believe I can't transfer to another, I think they've clamped down on that but what about if I used another 0% to pay the card? Or does this not work for Bill paying? Any clever ideas anyone? Any ideas appreciated.

mrs_T

I would think as always it depends on your credit rating. I don't know why you think you can't transfer a balance to another 0% card but it's a bit early yet, I would make every effort to reduce the balance and try to transfer any balance later in the year.

Tixy

You need to work on repaying what you can over the next few months.
Then in perhaps November/December time it would be worth applying for a new card with a 0% rate on balance transfers. Before you make an application you may wish to first look at the MSE eligibility calculator to see how likely it is that different lenders may accept you for such a card. http://www.moneysavingexpert.com/credit-cards/balance-transfer-credit-cards?_ga=1.221773912.1500758169.1393580775#eligibility

You will need to apply for a credit card from a different issuer to your existing card to be able to do a balance transfer.

paulasgems

Thanks so much for advice :-)