Accepted for balance transfer credit card but limit is not high enough.

doublejd

I applied for a balance transfer credit card today and I was accepted but only for £1000 and I wanted to put £2000 from one credit card and £300 from my other one. Now I don't know what to do.

My £2000 credit card debt is with the same bank as my current account. I am paying around £40 interest each month so want to move it to 0% so whatever I pay will be paying off the debt not just interest.

My £300 credit card debt was my previous balance transfer and the 0% period runs out in March so need to move it soon.

Now I think I need to move the £300 and clear that first. Then transfer £700 from the £2000, so I have £1,000 debit in my new 0% card I can start to pay off which is fine.

But what can I do about the remaining £1,300 in my credit card which for which I'm paying interest each month?

Hope this makes sense and thank you in advance x

Kidder81

Your only real option is to transfer £1000 to max out the new card and then budget to allow you to pay off the interest bearing credit cards ASAP.

You’re focusing on the balance transfer when really you should be putting all your effort into cutting back and repaying all the credit cards ASAP. Otherwise you risk being the classic person who keeps balance transferring credit card debt until you run out of options and owe tens of thousands.