advice please - balance transfers to 2 new cards?

jj70not

Hi, I currently am near my limit of a 5k credit card. this money is a mix of my own personal (3k) and also near 2k spent on a clients' behalf which is due to be repaid against the loan probably within the year... it is a capital one card and 19% apr or so.

I want to transfer the balance, take a zero % interest hopefully and ideally split the two so I know what's my own and what's theirs(!)

Does this make sense? My concern is leaving Capital One to go to two separate other banks, is this a wise move? I have a regularly low regular income and sporadic other lumps - am self employed so credit rating is something I would like to protect where possible...

welcome any advice about how best to deal with this situation,

thanks!

Candyapple

Two things that jumped out in your post; low income and Cap One card, albeit with a high balance.

You want to apply for a 0% balance transfer card, but I am not sure you would actually get one. If I were you I would check your eligibility before applying and see what you can get (make 1 application). You don't need 2 separate cards to do 2 different balance transfers. If you get rejected for the application, then I would advise you to go over to Debt Free Wannabe board and post up your SOA for advice on how to get rid of your debt.

CLAPTON

jj70not wrote: »

Hi, I currently am near my limit of a 5k credit card. this money is a mix of my own personal (3k) and also near 2k spent on a clients' behalf which is due to be repaid against the loan probably within the year... it is a capital one card and 19% apr or so.

I want to transfer the balance, take a zero % interest hopefully and ideally split the two so I know what's my own and what's theirs(!)

Does this make sense? My concern is leaving Capital One to go to two separate other banks, is this a wise move? I have a regularly low regular income and sporadic other lumps - am self employed so credit rating is something I would like to protect where possible...

welcome any advice about how best to deal with this situation,

thanks!

you may or may not get two cards (or indeed any) but if you do then the plan seems fine
you don't need to leave cap 1 : just keep the card

jj70not

thanks both, am I best to check apply before application? on moneysavingexpert or somewhere similar so it doesn't show on credit score etc?