New card or balance transfer?

Moclin

I currently have one credit card with a £500 limit that I've had for about 3-4 years. It has a balance of £40 which will be paid of in full early next month via my DD.

I've been looking into getting a new card with a higher limit and 0% interest on purchases for 12months+.

My questions are:

Should I apply for a new card now and transfer the £40 to it?
Should I apply for a new card now and just leave my current card as it is?
Should I wait till my DD comes out and then apply for a new card?

Herbalus

Most balance transfers have a minimum amount, and £40 should be below most of them. If you're paying it off in a few weeks then just do that. You'd probably find you'd pay it off pretty much around the same time you opened a new account and tried to transfer it.

You can always ask your provider for a higher limit.

I'd just apply for a new card, and to be honest it doesn't matter if it's now or in a few months. If you were earning a low amount that meant a £500 limit put other lenders off you because you might have too much credit (as a % of your earnings), then you're not earning enough to get another credit card anyway.

Moclin

I'm earning alot more than I was 4 years ago, nearly double.

Think I'll apply for the Marks & Spencers card.

Thanks for your helpful advice. Appreciate it