8k balance transfer

OttoBene

Hi all,

I currently have c. £8k on an HSBC credit card. I want to pay this off as quickly and cheaply as possibly, so have been looking at balance transfer cards - right now I'm spending over 100 per month on interest.

However, as has been highlighted before, most credit cards have an example of a £1200 limit. I need more than that. I don;'t want to affect my credit rating by applying for a new card, for it to have minimal upside.

Alternatively, I could get a loan for the balance and pay this off over a few years. This might be a bit more expensive but probably wont have as much of a negative impact on my credit rating as several 9% cards.

Thoughts? If anyone knows of 0% cards that are amenable to high credit balance transfers i'd be grateful.

foxy-stoat

Its not the cards its your personal information that will dictate the limit.

And good news, 1 or 2 card applications wont affect your credit rating much if at all.

[Deleted User]

OttoBene wrote: »

However, as has been highlighted before, most credit cards have an example of a £1200 limit.

All cards have a representative limit of £1,200, as required by regulation.

Your limit will be determined by risk.

There are cards which anecdotally give higher limits than others, but your circumstances might not fit their criteria. Consider using an eligibility checker.