0% balance transfer MBE Credit Card limit lower than desired - advice??

Emmzy91

Hi all,

Apologies if this has already been discussed before. I have 3000 on my credit card, and was hoping to transfer the whole amount to a zero percent MBE credit card.
I applied for the card and the limit is 2200
Is the best course of action to transfer the remaining 800 onto the MBE card in a few months?
Thanks for any help!

BoGoF

Assuming you are being charged interest on your current card then any amount transferred to 0% will save you money. However you will probably not be able to transfer the full £2200 as there is usual a % of your limit you can actually use. There is sometimes a time limit on making transfers to qualify for the 0% - check your paperwork

Round_The_Bend

Try applying for another card. Worst case scenario is that you are rejected but you may possibly be accepted and chances are that the limit will be sufficient to cover the remaining balance. Try the various eligibility checkers first, to improve your chances, before applying formally and I would advise trying the credit card provider's own eligibility checker first, if the option is offered; in my experience, these tend to be more accurate. The likes of MBNA, Barclaycard and Virgin all offer them. Good luck.

Kim_13

Further to the above, you'll need to make sure you leave room for any applicable balance transfer fee. Accidentally going over will incur an over limit fee (usually £12) and your 0% period may be lost.

Ben8282

Have never heard of the MBE credit card. Who issues it? Google search produces only this post in this forum.