Balance Transfers

I have 2 credit cards and want to reduce my interest. I could apply for a balance transfer card however the credit limits usually start at £1,200 and I want to transfer around £5,000. Would it be better to go for a cheap loan?


  • MallyGirl
    MallyGirl Posts: 6,513
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    Your credit limit depends on your own circumstances. Lots of cards use £1200 as an example - it doesn't mean that is what you will get
    I’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
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  • Please help , I have a mortgage of 105k equity of 70k but over last few years been consolidating debts to the mortgage as was only 60k is thus a bad thing

    Another issue I need to do this again as run up debts of 25k on 3 cards
    With the new mortgage laws would I be able to do it

    Or should I do an iva or sell my house

    Also got 0verdraft of 2k so having yo live off overdraft

    I think once all sorted and repayments reduced it will be easier as paying out 400 in card payments it would not be that much to add to the mortgage

    Me and hubby work we earn 16k each
    Son gets dla of 300 a month
    And tax credits 150
  • Welsh42 wrote: »
    Please help...
    Welcome to MSE :wave:
    Better to start your own thread rather than hi-jacking this one.
    Are you for real? - Glass Half Empty??
  • How do instant my own thread , what did u mean am I for real
  • Tixy
    Tixy Posts: 31,455 Forumite
    To start a new thread click on the newthread.gif icon in the relevant section of the forum - the icon is at the top and bottom of each main forum page (from your post perhaps the Debt-Free Wannabe section of the forum might be best).

    The 'Are you for real' comment is on that poster's signature, it appears at the bottom of all their posts and is not part of their reply to you.
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
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