Help!!

[Deleted User]

The good news is, even without a BT, it's not the end of the world.

At £100 per month, it will only take 14 months, and £114 in interest, to clear it.

Compared to £25 per month, which would've taken 85 months, and £868 in interest, it's almost a walk in the park.

If you can manage an additional £100 (ie. £125 in total), you will get it under a year (11 months to be exact), and save an additional £28 in interest.

As for which 0% card to get, at £100 per month, it will take 12 months to clear all but £50 of it so, assuming you can scrape together the BT fee + £50, I'd go for whichever 12 month + card has the lowest BT fee.

JimmyTheWig

kirkyjay wrote: »

Any suggestions on the best card to get for my situation? I don't plan on spending more on one, just want the longer time to pay it off.

Initially you said

kirkyjay wrote: »

can't seem to find a credit card that will let me transfer the full balance, or the credit limit I have is less than the one I first had.

Does this mean that you have been through some applications with 0% balance transfer cards? And were approved, but with a lower limit?
Did you proceed to open an account with these cards?
If not, are you still able to, or is the application closed?

The thing is, if you've been approved for some cards already with a lower limit than you want, the chances of getting a higher limit elsewhere are low.
So your best bet would probably be to use the applications that you've already made (which means no further damaging credit searches) to get at least some of the debt off the 16.9% you're on. You don't have to transfer the full balance.
Pay the minimum, for now, on the 0% card(s) and pay as much as you can off your current card. Then once your current card is paid off in full, pay what you can from the 0% cards each month.

JimmyTheWig

As to why you've been offered lower credit limits? Quite possibly this is due to the outstanding debt.

Imagine there's a guy in the pub who wants to borrow a tenner. You trust him reasonably well so agree to lend it to him.
However, now imagine the same guy who wants to borrow a tenner. But you hear that he borrowed a tenner from someone else last year and is paying them back 20p a month. He's paid them on time every month as agreed (i.e. it could be a lot worse) but still hasn't been able to pay off the full debt.
He says that he'll use the tenner you lend him to pay off the old debt so things won't get out of hand, but you have no way of ensuring that he does this - he could just as well waste the whole tenner on Pokemon and cheese.
Would you still be happy to lend to him?