Need advice re balance transfer

microserfs

Hi there

Hopefully someone can advise me on the best thing to possibly do! I'm a homemaker who lives with her full-time working partner, I'm unable to work unfortunately due to personal health problems (added to the fact I can't apply for benefits) so my income comes through my partner. I've never had any problems paying off personal credit cards, never made any defaults or missed any payments, and my credit rating on CreditKarma, Experian and Clearscore are all good.

I have some credit cards that are reaching the end of their promotional period. Unfortunately Barclaycard (of which I'm paying interest on atm) haven't sent me any offers for over a year or two now, and although I have a Tesco credit card that constantly gets 0% offers, I don't have space to make any transfer. I called Barclaycard as sometimes they offer lower interest rate promotions but the person on the phone said that I don't have any offers. However, my interest free period on my BC has ended a year ago so I've been paying interest on that for ages, and my Tesco is now coming to the end of it's promotional period.

I've done an eligibility checker on various sites and they've all said I wouldn't be accepted for any cards (even though I have good credit, am present on electoral roll etc) and am guessing it's because of my lack of personal income. I do add on there my partners income too, which is fairly high, but I still get 0% chance. I'm wondering what else I can do in this situation as I imagine being hit with the interest from the card (as well as the already outstanding BC) is going to be annoying for both of us.

I know in my situation there's not much I can do, but I figured someone who has been in a similar situation (or got income through their partner) may have some advice or idea of what steps I can take.

Thanks anyway! :beer:

joedenise

I suspect it's because you are at your limit on your cards all the time. It sounds as though you are still spending on your cards as you say you haven't got enough space on your Tesco card to transfer to a 0% offer.

Your credit score isn't seen by creditors and doesn't really mean anything.

What you need to be doing is paying your cards off and not keep spending on them. You may then be in a position to get a 0% transfer offer you can use.

microserfs

Ah, no, I barely spend on my cards, I just tend to pay off the minimum (or a bit more than). My BC isn't at its limit, the reason my Tesco is mostly is because I had to do a balance transfer last year so I moved as much from my BC as possible. Unfortunately I was only given 12 months 0% with Tesco last time so I haven't managed to shift enough of the debt off of it just yet, where as the BC is the one with the most credit available (but no 0% offers).

BakingC

Get him to take a card and add you as additional card holder perhaps? Issue is although your partner has income with the CC in your name they cannot go after him when you don't pay. If the card was his with you as additional they should focus on his income as it will be classed as his debt if you don't pay your portion.

microserfs

I think his credit cards are generally maxed out haha, but I'll have to ask if he could get one perhaps, or add me as an additional cardholder to one of his if he pays one off. I have no worries about making payments and such, I've been able to do so ever since I was 18 and had my first credit card, and we've been together many years, so no worries there. It's just awkward I guess since we all have our own debts and finances to deal with

Thanks for your replies btw.

joedenise

Sorry I misunderstood your situation from your first post but it was the way I read it. As Tesco do offer you 0% deals from time to time perhaps concentrate on paying that down a bit so you have some space on there to move the money over.

microserfs

No worries I actually do have a 0% offer from Tesco but not enough space to do anything with it - guess I'll just have to do a switcheroo at some point!

Alexd52

microserfs wrote: »

No worries I actually do have a 0% offer from Tesco but not enough space to do anything with it - guess I'll just have to do a switcheroo at some point!

Having some on 0% is better than having all your debt interest bearing