What credit card to get ???

carl_barthram

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

bengalknights

You probably stand a low chance of acceptance unless they have all been kept up to date with payments etc

carl_barthram

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]

So are you going to try for it?

carl_barthram

Hello, i just want to make sure this is my best option

enjoyyourshoes

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.

[Deleted User]

carl_barthram wrote: »

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

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.

[Deleted User]

Except that Santander won't allow a BT from another Santander card.

enjoyyourshoes

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.