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What credit card to get ???

Hello, im new to this forum and just wanted some advice please, i have 3 bits of debt outstanding, overdraft £1950, Santander credit card £2300 and a Tesco credit card (high interest) £2900 and was wondering if i could apply for a new credit card to pay these 3 debts off and start paying just one credit card at a decent interest, any ideas? thank you

Comments

  • bengalknights
    bengalknights Posts: 5,021 Forumite
    Part of the Furniture 1,000 Posts
    You probably stand a low chance of acceptance unless they have all been kept up to date with payments etc
  • I have been given a list of various cards and an acceptance rate of 95%, one which stands on is Barclaycard - up to 24mths, 0.7% fee
    LOW FEE CARD IF YOU NEED TWO YEARS TO PAY OFF DEBTS
    ???
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    So are you going to try for it?
  • Hello, i just want to make sure this is my best option
  • enjoyyourshoes
    enjoyyourshoes Posts: 1,093 Forumite
    Seventh Anniversary 1,000 Posts Combo Breaker
    Look on MSE for cc with 0% balance transfer, 0% interest for as long as you can get. Divide £7150 with the number of interest free months, set up a DD for that amount immediately (they ofter prevaricate and take ages so push them). DONT us the card at ALL ! (as any purchase will be at the high interest rate post the 0% free period).
    Santander was good a few months ago, but check latest as they always change.
    If you can not guarantee to pay the amount on the DD every month, think again.
    Debt is a symptom, solve the problem.
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Hello, i just want to make sure this is my best option

    Well, it's an option. You may find longer deals out there, but if you're unlikely to be accepted, there's not much point in applying.

    Without knowing your credit history, all I can suggest is that you go with the soft search recommendation.
  • enjoyyourshoes
    enjoyyourshoes Posts: 1,093 Forumite
    Seventh Anniversary 1,000 Posts Combo Breaker
    Just checked Santander do 0% transfer fee and 0% interest for 15 months, so set up DD for £476.67 per month and you will be debt free, as long as you sort out that you can guarantee the £476 pm and sort out your overspending.
    Debt is a symptom, solve the problem.
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Except that Santander won't allow a BT from another Santander card.
  • enjoyyourshoes
    enjoyyourshoes Posts: 1,093 Forumite
    Seventh Anniversary 1,000 Posts Combo Breaker
    Ah well ! Maybe check out other options as per my original comment. No point paying for balance transfers if you can get it for free.
    A few out there, PO Platinum (0% truss and 18 month 0% on the transfer) Go to Uswitch and search.
    The key points are;-
    Can you make the DD repayments within the 0% timescale
    Can you reduce your overspending habits?
    The rest is prosaic.
    Debt is a symptom, solve the problem.
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