Balance Transfers

edited 30 November -1 at 1:00AM in Stoozing: Free Cash from Credit Cards
5 replies 2.1K views
marie.pricemarie.price Forumite
7 Posts
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?

Replies

  • MallyGirlMallyGirl Forumite, Board Guide
    5.4K Posts
    Eighth Anniversary 1,000 Posts Name Dropper Intrepid Forum Explorer
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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 Board Guide on the Debt-free Wannabe, Loans & Credit Cards boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Board guides are not moderators and don't read every post. If you spot an inappropriate or illegal post then please report it to [email protected]
    Any views are mine and not the official line of MoneySavingExpert.com.
  • Welsh42Welsh42 Forumite
    2 Posts
    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??
    :coffee:
  • Welsh42Welsh42 Forumite
    2 Posts
    How do instant my own thread , what did u mean am I for real
  • TixyTixy Forumite
    31.5K Posts
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    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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