Predicament

ChrisB2414

In a bit of a predictament. Don't know whether to take out a loan to pay off my credit card and help with some finances or take a balance transfer credit card.
If I take a balance transfer c.c can I apply for more than what it will be to pay off my credit card?

Guybrush_Threepwood

If you take a balance transfer credit card, it will likely only be the transferred balance that is interest free. Any other available credit on the card will likely incur a higher interest rate.

Perhaps explain a bit more about your situation? People here may have other advice that is helpful ��

ChrisB2414

I took out a credit card a few years ago due to financial hardship and savings I had used for repairs and family issues. I know have an outstanding balance of £3000 not including the interest on top of that. However my work have put my promotion back until September so my plan now was to pay off this credit card with either a loan (enough to pay off the card plus aid some other finances) or a balance transfer card which my wife mentioned but my knowledge of this is nil.
I mentioned a loan so it gives us a head start on a few things and we both aid in paying it off as my wife would if we were to get the card.

enthusiasticsaver

A debt consolidation loan which is what you are talking about is a very bad idea. Borrowing to pay off debt is never a good plan. If you are paying interest on this £3000 then yes a 0% balance transfer is a good plan if you can get one. They will only allow you to transfer what is on the card though but to be honest if you are already struggling borrowing more is not sensible.