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0% spending card and balance transfer
patch9495
Posts: 141 Forumite
in Credit cards
Morning,
We are moving into our first home soon and as such are buying all of the necessary items required on a 0% interest card, and making the minimum payments.
I do have the cash available to pay off the full balance however feel it would be more financially beneficial to stooze the cash in a savings account whilst paying the minimum payment on the CC off by DD every month.
My question is, will having a high debt ratio (around 60%) reduce my chances of being accepted for a balance transfer 0% card at the end of this period? If such this will force my hand into paying the full balance off the CC earlier
We are moving into our first home soon and as such are buying all of the necessary items required on a 0% interest card, and making the minimum payments.
I do have the cash available to pay off the full balance however feel it would be more financially beneficial to stooze the cash in a savings account whilst paying the minimum payment on the CC off by DD every month.
My question is, will having a high debt ratio (around 60%) reduce my chances of being accepted for a balance transfer 0% card at the end of this period? If such this will force my hand into paying the full balance off the CC earlier
0
Comments
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Your existing debts will be taken into account by any given lender.
Whether it has a significant negative impact depends on their criteria and your wider circumstances.0
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