transfer or hold out

kbeetle

Hi, I currently have 3 cards, nationwide with nothing on and the other two (tesco amd barclaycard) over half of my credit limit on each. I can only afford min payments each month but both have come to end of 0% deals so I need to reduce the interest. The eligibility calc says im good for a long term 0% card but I dont think i will get offered a high enough limit to pay both cards off.

Questions I have are -
1) I have been offerred 0% on new balance transfers on the barclaycard. If I transfer tesco debt to that and get rid of tesco, can i then get the Halifax long term deal and transfer barclaycard debt to that? Or would barclaycard only transfer theold tesco debt and leave me with debt at 18%? I.e. Can I choose which debt to transfer to Halifax?
Hope that makes sense!
Thanks

[Deleted User]

The highest rate debt will be paid first.

Consumerist

kbeetle wrote: »

. . . I have been offerred 0% on new balance transfers on the barclaycard. If I transfer tesco debt to that and get rid of tesco, can i then get the Halifax long term deal and transfer barclaycard debt to that? Or would barclaycard only transfer theold tesco debt and leave me with debt at 18%? I.e. Can I choose which debt to transfer to Halifax? . . .

I assume you intend to apply for a new Halifax card with 0% BT.

Why not transfer the Barclaycard debt to Halifax - leaving Barclaycard balance at £nil - then BT the Tesco debt to Barclaycard at 0%.

All this assumes your transfer limits will cover the debts.

Hope I've understood your question.

kbeetle

Consumerist wrote: »

I assume you intend to apply for a new Halifax card with 0% BT.

Why not transfer the Barclaycard debt to Halifax - leaving Barclaycard balance at £nil - then BT the Tesco debt to Barclaycard at 0%.

All this assumes your transfer limits will cover the debts.

Hope I've understood your question.

thanks, i dont know why i didn't think of that! fingers crossed i get accepted for the halifax card

Consumerist

kbeetle wrote: »

thanks, i dont know why i didn't think of that! fingers crossed i get accepted for the halifax card

Panic can often obscure logical thinking. It happens to us all but MSE forums can help us to replant our feet on the ground. Good luck.