Card Question

xarthok

I have been doing all my normal and work related spending on 0% purchase cards and I have built up a considerable amount of debt which is currently still on 0% interest. I also do not have much remaining credit limit remaining.

I would now need both a new 0% purchase card and a good balance transfer card at the same time as my latest card is hitting its credit limit and an old card is about to come off the 0% deal.

I've noticed the deals have slowly gotten worse over time. My credit score has also suffered and is currently pretty poor due to my card utilization. Should I start paying off my cards as they come off the deals and just apply for a new purchase card? I doubt I can get a new purchase card and balance transfer card at the same time.

[Deleted User]

Lenders will be looking at your total debt and affordability (not the pretend credit score). If your income justifies it, then you may get further credit.

Try an eligibility checker but have an exit plan for clearing the debt.

Willing2Learn

You should start paying down the debt as soon as the 0% promotion ends. The more you can pay down, the better. You may struggle to get any good deals if you are close to the limit.

Terry_Towelling

Notwithstanding the fact that what follows isn't really what you asked for in your thread, your situation does appear to be a significant cause for concern and you appear to be looking for a way to increase the problem rather than addressing its cause - sorry if that sounds harsh but I come from a position of ignorance and can only comment on what you have put before us.

If your debt is rising and you have made no provision to actually reduce it (e.g. stoozing by saving the required funds as you spend) then this suggests you have a systemic failure in your finances - i.e. you are spending money you don't have (and never will have) and you don't have a plan for reducing your debts at all.

The problem in your case is even more acute than usual because you can't blame your increasing debt on interest charges.

I know you haven't given us all of the information relevant to the way your life works (financially) nor do I expect you to, but if you truly haven't thought sufficiently far ahead to a time when you intend to not have any debts, then now might be a good time to do so.

Edit: Just read an old thread from you, OP, so it seems you may have been doing some stoozing after all.

Ben8282

I hope that when your employer reimbursed you for this work related spending on the 0% card that you actually saved the money somewhere rather than spending it.
Don't pay any attention to the imaginary credit score. However, the very high utilisation % of your existing credit cards may well make it more difficult for you to obtain further cards.