We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Advice needed - debt shift
dobbadobbs
Posts: 75 Forumite
Hi all
Bit of advice required.
Background
'Good credit rating'
Virgin CC - £5843.02 (credit limit £6000, 4 months into 24 month 0%, spends)
Halifax CC - £2000 (credit limit £5000, out of 0% period, 16.9%APR)
Spare cash to service debt - £500 per month.
What's the best option? Apply for a new 0% to replace the halifax CC with a long term 0%, or wait for 6 months and try and raise virgin limit? Confident I can clear the debt within the 24 month limit.
The only issue I see is we 'may' need to spend a small amount given any potential additional costs for the wedding which is due to take place in March.
Any help or advice would be greatly appreciated.
Thank you.
Bit of advice required.
Background
'Good credit rating'
Virgin CC - £5843.02 (credit limit £6000, 4 months into 24 month 0%, spends)
Halifax CC - £2000 (credit limit £5000, out of 0% period, 16.9%APR)
Spare cash to service debt - £500 per month.
What's the best option? Apply for a new 0% to replace the halifax CC with a long term 0%, or wait for 6 months and try and raise virgin limit? Confident I can clear the debt within the 24 month limit.
The only issue I see is we 'may' need to spend a small amount given any potential additional costs for the wedding which is due to take place in March.
Any help or advice would be greatly appreciated.
Thank you.
0
Comments
-
MB*A All in One Card has 0% transfer and 0% Purchases for 2 years0
-
Thank you.
Would I have difficulties getting MBNA with virgin card already?
Would same problem with a fluid card?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.1K Work, Benefits & Business
- 603.7K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards