raising £45000 best way?

tanya_no9

As the above is saying how is best to raise 45k, I've been told I've a very good credit score so a loan of 25k would do and the rest on low APR cards? The loan would be over 10yrs but more likey repaid sooner, Ive a 10k card but the APR is high so not going to use that..

Anyone know of any long term low APR cards?

thanks ...:rotfl:

CHR15

For £20k? you need to think again.

Ebe_Scrooge

As per your other post in the credit cards board, you ain't going to get a card with a 20k limit. What do you need the money for ? Depending on the purpose there may be several other options available.

Idiophreak

If you gave people some idea what you needed the £45k, they might be able to advise better...

forgotmyname

Not seen any low APR cards that extend to 10 years. Seen 18 month and 2 year deals.

19lottie82

tanya_no9 wrote: »

As the above is saying how is best to raise 45k, I've been told I've a very good credit score so a loan of 25k would do and the rest on low APR cards? The loan would be over 10yrs but more likey repaid sooner, Ive a 10k card but the APR is high so not going to use that..

Anyone know of any long term low APR cards?

thanks ...:rotfl:

I can say with 99.99999% certainty, this is not achievable, sorry.

Firstly, the only way you could get a loan for 25k is if you ditched the CC with the 10k limit, and also earned over £50k a year, with no other debt and a have a great credit history.

If that isn't a non starter, no company will give you 20k on a credit card as a new customer, let alone on an interest free card, when you have a £25k loan hanging over your head.

I'm sorry if this isn't what you want to hear, but the reality is, you have no chance of getting £45k of unsecured debt, unless you're absolutely loaded and have a long history with financial providers of borrowing equally large amounts and paying it back, but I'm guessing this isn't the case.

Can I ask what you need it for? People might be able to help with an alternative solution?

What's your current salary / debt levels?

Idiophreak

19lottie82 wrote: »

I'm sorry if this isn't what you want to hear, but the reality is, you have no chance of getting £45k of unsecured debt, unless you're absolutely loaded and have a long history with financial providers of borrowing equally large amounts and paying it back, but I'm guessing this isn't the case.

I'm not sure this is entirely true.

I've had access to more than 45k of unsecured debt for most of my working life. I've used a fair amount, in conjunction with my wife, over the years...but never overstretched ourselves. If I'd have been desperate for 45k on my own, I've no doubt I could have done it, mainly at 0% too, at any given time...I've had plenty of loans while retaining high credit limits on several cards....this was true even when I earned < £30k...although I appreciate lenders are a little stricter these days.

I think OPs issue is that he doesn't seem to have a selection of available credit cards to hand - and applying for that volume of credit cards in one hit is likely to be...difficult.

19lottie82

Idiophreak wrote: »

I'm not sure this is entirely true.

I've had access to more than 45k of unsecured debt for most of my working life. I've used a fair amount, in conjunction with my wife, over the years...but never overstretched ourselves. If I'd have been desperate for 45k on my own, I've no doubt I could have done it, mainly at 0% too, at any given time...I've had plenty of loans while retaining high credit limits on several cards....this was true even when I earned < £30k...although I appreciate lenders are a little stricter these days.
QUOTE]

Yes, but I'm guessing you've built this up over a period of years, rather than getting it in a very short period of time? And as you mentioned, credit was a lot easier to come by in the past. Lenders are a LOT stricter these days.....

Ebe_Scrooge

I'm not sure if this thread, and the associated one in the CC board, is a wind-up, but if the OP would let us know the purpose of the loan then we may be able to offer some more constructive advice.

bengal-stripe

Idiophreak wrote: »

I've had access to more than 45k of unsecured debt for most of my working life.

That might have been a few years back. It certainly was easier to get credit and high card limits before the financial crisis of 2008.

Post 2008, easy-come-by credit has pretty much dried up.

DCFC79

tanya_no9 wrote: »

As the above is saying how is best to raise 45k, I've been told I've a very good credit score so a loan of 25k would do and the rest on low APR cards? The loan would be over 10yrs but more likey repaid sooner, Ive a 10k card but the APR is high so not going to use that..

Anyone know of any long term low APR cards?

thanks ...:rotfl:

Define a good credit score ?

Id like to know what 1 is ?

Who told you it was good, sorry I mean very good ?

What if you wont be able to get the £25k loan and only get £15k ?