Balance Transfer Credit Cards not offered enough credit!

grumbler

Indeed, chances. You are overoptimistic suggesting to wait for both the limit increase and the new offer instead of taking advantage of the current smaller offer.

Sharon87

If you apply for multiple credit cards on the same day you are more likely to be accepted than if you space them out as the searches don't have a chance to be added to your file when you apply for the next card.

It will mean you won't be likely to get new credit in the 6 months after that, so bear that in mind.

I had a large debt on a card, which I've balance transferred to multiple cards. I have never closed a credit card account because the ones I have keep offering me 0% deals as an incentive to get me to use them again!

smigger80

grumbler wrote: »

Indeed, chances. You are overoptimistic suggesting to wait for both the limit increase and the new offer instead of taking advantage of the current smaller offer.

Lol I am far too busy to argue this point. I was just sharing what worked for me that's all!!!

redpete

BengalTilly wrote: »

So is it wise / possible to apply for different 0% BT cards at once to try and make up the near as I can to £9,000??

It might get you closer to the total you want but is it wise? Only if you have either a realistic plan to pay off the balances before the 0% offer runs out or you have a realistic chance of getting more 0% offers at that time (and the latter option has just been proven unreliable).

Mr_Goodkat

You could try Nationwide as they give an indication of credit limit on a soft search before you commit to a full application although their transfer period is not marketing leading by any stretch.


If the Barclaycard has been your only current card before fluid you will look fairly stretched financially in that you have a high credit utilisation.


Your income and other financial commitments will be taken into account when you apply and you will be judged on total credit going to be available i.e. another £9k card would give you £18k of potential debt a risk lenders may not be willing to take depending on your income.


I always find it is beneficial to have multiple cards as it keeps credit utilisation low and also I am constantly getting balance transfer offers - at present Halifax, Nationwide and MBNA are all offering me 0% balance transfers.