Applying for 0% card before remortgaging

weso100

Hi

I would like to get a 0% credit card to sort out the mess I have made on my Next store card. My hubby is telling me to wait until after we have re-mortgaged - our mortgage deal ends this March so we need to re-mortgage. Is he right in this thinking?

Thanks x

HappyMJ

weso100 wrote: »

Hi

I would like to get a 0% credit card to sort out the mess I have made on my Next store card. My hubby is telling me to wait until after we have re-mortgaged - our mortgage deal ends this March so we need to re-mortgage. Is he right in this thinking?

Thanks x

Yes and no.

If you're taking the card out and closing the Next store card then I don't see a major problem doing it. You'll still have the same number of cards at the end of the day.

If, however, the credit card limit offered by the new card doesn't pay off the Next card in full then you'll have two cards which wouldn't be good at all.

weso100

HI thank you - I wasn't going to close my next account but then it might be safer if I did!!! I was going to pay it off it full and then keep the account but only spend what I could afford going forward, but then as I said, would be better to close it so I don't get into this mess again.Thank you x

betmunch

What kind of mess have you made of the Next account? Any missed payments?

Yorkie1

And when you say 're-mortgage', do you intend to move mortgage provider (this is indeed a re-mortgage) or just transfer products with your current mortgage provider (this isn't a re-mortgage; it's a product transfer or retention product)

weso100

Hi - we will probably move mortgage providers - depends who has the best deal I suppose.
No - no missed payments - just racked up a big balance which I am only paying the minimum amount on each month and of course getting charged a lot of interest. I have applied for a 0% card and will close the Next account as soon as it is paid off.

Thanks for all your help x