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What to do if credit limit is not enough
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claire8370
Posts: 128 Forumite


in Credit cards
Hi,
I am paying my last year of my doctorate in health psychology next month (£3441), but the university insist I pay this over 6 months, which is not possible. I have tried negotiating with them, asking whether I can pay over 9-12 months, but they are refusing.
The last 2 years my circumstances were different (I was in a relationship and had shared bills), so I have never put myself into debt over this course. Therefore I am looking to take out a 0% credit card for the full amount and pay this off over the year, which would be much more manageable.
I just applied for Halifax and was accepted but they only gave me £1500. A bit frustrating as I have two other cards with 0% interest and each have £4000 on them that I could use, it just wouldn't be at 0%.
My questions are:
Shall I wait to see if Halifax increase amount when my letter and card comes through?
Do I cancel Halifax and try another credit card?
Any other options?
Any advice much appreciated.
I am paying my last year of my doctorate in health psychology next month (£3441), but the university insist I pay this over 6 months, which is not possible. I have tried negotiating with them, asking whether I can pay over 9-12 months, but they are refusing.
The last 2 years my circumstances were different (I was in a relationship and had shared bills), so I have never put myself into debt over this course. Therefore I am looking to take out a 0% credit card for the full amount and pay this off over the year, which would be much more manageable.
I just applied for Halifax and was accepted but they only gave me £1500. A bit frustrating as I have two other cards with 0% interest and each have £4000 on them that I could use, it just wouldn't be at 0%.
My questions are:
Shall I wait to see if Halifax increase amount when my letter and card comes through?
Do I cancel Halifax and try another credit card?
Any other options?
Any advice much appreciated.
0
Comments
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claire8370 wrote: »Hi,
I am paying my last year of my doctorate in health psychology next month (£3441), but the university insist I pay this over 6 months, which is not possible. I have tried negotiating with them, asking whether I can pay over 9-12 months, but they are refusing.
The last 2 years my circumstances were different (I was in a relationship and had shared bills), so I have never put myself into debt over this course. Therefore I am looking to take out a 0% credit card for the full amount and pay this off over the year, which would be much more manageable.
I just applied for Halifax and was accepted but they only gave me £1500. A bit frustrating as I have two other cards with 0% interest and each have £4000 on them that I could use, it just wouldn't be at 0%.
My questions are:
Shall I wait to see if Halifax increase amount when my letter and card comes through?
Do I cancel Halifax and try another credit card?
Any other options?
Any advice much appreciated.
2 other cards at 0% but wouldn't be at 0%?? Previous Balance Transfers??
You've got £1500 available on the Halifax card to use, so keep it. Can you put £1500 on the Halifax (paying approx £15 p/m minimum payment) and pay the remainder over the six months?
You could also apply for another card and see what the combined credit limits are.0 -
I'd keep the Halifax one. It's better getting some of it at 0% than none of it. If you haven't made any other recent applications then you could use an eligibility checker and try one more for a card you have a high chance of being approved for.
You haven't given much detail about things like income / other debt etc but you may be running out of available credit on the grounds of affordability if these other two cards are carrying a balance.0 -
Have you tried Santander? They gave me a limit of £2,500 and if you combine the CC that should be enough?People don't know what they want until you show them.0
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