Credit Card switching - what are my options?

I have a credit card, and my 0% introductory offer is about to expire. I have £3500 debt on this card, and would like to switch this to a new 0% card. The problem I have is that I am applying for new cards (one new application every 3 months), and I am only being offered between £1000 to £1500 credit. My credit score is average, and I do not miss any monthly payments. I am not looking to accrue further debt, I just want to move it from one card to another.

If I do not shift the debt from this card, my monthly payments are going to increased by around £75 a month, which will mostly be interest repayments... and that really angers me!!!

Any advice would be greatly appreciated :-)

Comments

  • Ebe_Scrooge
    Ebe_Scrooge Posts: 7,320
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    This is why it's always advised to make sure that, when taking out a 0% card, you make sure you have the funds available to pay it off at the end of the promotional period. Never assume that you'll be able to get another 0% card.


    That said, the simplest way is to split it across 2 or 3 cards. You say you've been offered the cards with a lower limit than what you'd like - take the offer and shift as much as you can on to one card, then the remainder onto another.


    Oh, and paying interest shouldn't "anger" you - that's what happens with credit cards, it's how they work.
  • Ben8282
    Ben8282 Posts: 4,821
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    edited 11 February 2017 at 7:18AM
    If you have applied for and been given new cards every 3 months with limits between £1000 and £1500 you should have sufficient credit available to transfer the balance except that presumably either you have new balances on these cards and/or the promotional period for making balance transfers has expired.
    If any of these cards have available credit and existing customer balance transfer offers available then transfer as much across as you can. If not you will have to continue your 3 monthly applications and, assuming you can get any further cards, transfer across what you can within the credit limits you are given.
    If you want a new card with a good limit then stop obtaining a new card every 3 months. It's as simple as that.
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