Balance Transfer advice

Bambina1981

Hello,

I was wondering if anyone could provide some advice please (it's my first time writing on a forum so apologies if this has already been asked - I have tried searching for the answer).

Do you know if there is a limit on the number of balance transfer credit cards you can have? My reason for asking is because I have a Barclaycard where the 0% will be ending soon and I either need to transfer to another card or get a loan. My situation is:

Barclaycard 0% due to end soon, £4,600 still to pay
MBNA 0% due to end June 2017, £1500 still to pay

If I applied for a balance transfer card (to shift the £4.6k onto) am I likely to be accepted or is there a rule you can only have 'X' number of cards? Also as I'm not sure if the card offered would allow me to move the full £4.6k, I may need to split over 2 cards so I'd have 3/4 cards. Is this allowed?

Sorry if this is a stupid question but I'm just worried to apply for cards in case I get turned down and it affects my credit score. Therefore just wondering if better to apply for a £5k loan?

Many thanks for any help and advice

[Deleted User]

There's no specific number limit. The max will be determined by your file, income and available credit.

Ignore your credit score.

grumbler

Bambina1981 wrote: »

.... in case I get turned down and it affects my credit score.

Turning down doesn't affect anything. Only application (credit search) has some effect.

Dobbibill

No-one is able to guarantee you will get accepted. You need to try to find out.
Although, again not guaranteed, you may be wise to try the eligibility checker from the main site. https://creditcards.moneysavingexpert.com/?balance-transfer&_ga=1.249933254.1700133485.1463375433

Also, if you have the available credit limit, it may be worth asking MBNA if they have any existing customer deals they can offer you. Can't hurt to ask, worst they can say is no.

Bambina1981

Thank you everyone, much appreciated