Huge Balance Transfer Chances?

maho

Deleted thanks

TadleyBaggie

I'd say you have no chance. The rule of thumb is that lenders will lend up to 50% of applicants annual income, taking into account existing debt. So if you earn 36K you are pretty much maxed out debt wise. To get a card with another 18K (you would need more than this however, as usually you can only transfer up 85% of the card limit) you would probably need to have income in excess of 75K.

I think you need to address the reasons you got into this position in the first place, taking on more debt is probably not the answer here. Head over to the Debt Free Wannabe section and post up a Statement of Affairs (SOA).

KRB2725

You could try using the eligibility checker on this site, it will tell you how likely you are to be accepted for another card (or two). Even if you can't transfer the whole amount, getting as much as possible onto 0% will help.

Fingerbobs

The highest limit I have ever had in my whole life was £11,300, way back in 2008 (I keep a spreadsheet of such things!).

Between £2000 and £5000 has become the typical range for me in recent years.

grumbler

maho wrote: »

I have 2 credit cards with large debts on and now neither of them are on 0% meaning my payments are making very little difference again. One card has 6900 and the other 11200 so totalling 18100.

Has anyone ever gotten a card with enough allowance to transfer this amount? I havent made any other applications of late and my credit rating is OK not the best in the world but 3/5 and Ive never been turned down for anything before.

Before I give this a go I thought I'd ask and see if its even realistic before applying

It doesn't have to be one card.
How realistic is to get £20K of new credit depends on your income.
With, say, £75K income it's very realistic.

eskbanker

TadleyBaggie wrote: »

I think you need to address the reasons you got into this position in the first place, taking on more debt is probably not the answer here. Head over to the Debt Free Wannabe section and post up a Statement of Affairs (SOA).

OP already posted over there last year (not with an SOA admittedly) but at that stage the total CC balances were below £14K, so unfortunately at face value it does look like debts have continued to head in the wrong direction despite the good intentions expressed at the time (although obviously we don't see the full current picture in this thread).

OP - looks like time to take a deep breath and stop thinking about ways of shifting debt around and instead concentrate on making serious inroads into reducing it.

Bookworm22

Cheap loan?

bigadaj

Bookworm22 wrote: »

Cheap loan?

Potentialally oxymoronic given what information we have but a loan might be an option.

steveing64

My personal experience is it down to pure luck at the moment i have 13 cards 6 have no balance on them, 2 are used for day to day and the other 5 have 0% deals on them. The credit limit ranges from £2k up to £15k and have just got a YB with a £10k limit thats going to be used for stozzing.

As for your credit rating just ignore what they say before i applied for the YB i checked noddle and they said my rating was 3

I found that MBNA and Virgin gave me the best limits barclays have now but took a few years to get to where it is now.

If it was me i would apply see what happens but thats me

knightstyle

My old Barclaycard has over £19k limit and they opened another account with two linked cards, one cashback and one American Express have a £6k limit. Got separate 0% transfer deals on both.