Marks and Spencer CC

trikkinikki

Hi All,

I am thinking about applying for this card and would like to shift my entire debt of £7k that I owe on my Virgin CC - I know that they will put a credit limit on but how do they calculate this does anyone know? I dont really want to go through the application, get accepted (hopefully) and then find that they puat say a £1,500 credit limit on because I'm think that its hardly worth it!

Thanks in advance

Andybez38

Nobody knows prior to an appication what credit limit you will be given. What exactly are you wanting to hear? With £7k outstanding debt on your virgin card this is going to be seen as outstanding debt and will be reflected on when applying for new cards.

trikkinikki

Andybez38 wrote: »

Nobody knows prior to an appication what credit limit you will be given. What exactly are you wanting to hear? With £7k outstanding debt on your virgin card this is going to be seen as outstanding debt and will be reflected on when applying for new cards.

Thanks for your reply. My mission is to get this debt into one place with a lower interest rate. I thought this M&S card would be a good option but want to avoid only having a small amount transferred over to it - hence the credit limit question. The only other option I suppose is to get a personal loan and pay off the debt that way?