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New cards Vs existing card deals

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I have been mainly renewing existing deals as I am at max credit and don't think will get another card or as big a credit limit again. However generally paying 3% on BTs Vs no fees on new cards

Is this a poor strategy?

Should I take the risk of ending and restarting?

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    If you can get cheaper borrowing, you should do so. There's no such thing as absolute'max credit'.

    But have a longer term strategy to clear the debt.
  • stphnstevey
    stphnstevey Posts: 3,227 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    If you can get cheaper borrowing, you should do so. There's no such thing as absolute'max credit'.

    But have a longer term strategy to clear the debt.

    Even at the risk of losing the high credit limit and possibly a declined application for a new card?
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    You won't lose the limits on any existing cards.

    And if declined, you simply have a search on your file.
  • stphnstevey
    stphnstevey Posts: 3,227 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    You won't lose the limits on any existing cards.

    And if declined, you simply have a search on your file.

    But I have been declined new cards previously, I suspect for having too much credit available. I was even declined for a 2nd card with an existing CC.

    So it seems the only way out of the spiral is to cancel a card that has no deals, reduce my existing available credit and then apply again in 3m or so
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    What limits and debts do you have and what's your income?

    Look at the wider picture, including your three credit files, to determine the best strategy.
  • fwor
    fwor Posts: 6,862 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    <please ignore - pushing spam off the forum index>
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