Not sure about what to do with my 0% interest period ending

smiler289

Hi

I've been using credit cards 0% balance transfer offers for years, if my balance hasn't been paid off by the end of the 0% time I then swap to another credit card 0% offer. However I've had enough of being in credit card debt and have been trying to payoff what balances I have, all of which are 0%.

I'm not sure what my next step should be. I currently have 4 credit cards, only 2 with balances and both 0% interest. One ends next July and it currently has roughly £7500 balance on it, I am over paying on this card and it will be paid off in full when the offer ends.

My other card has £12000 on it but the offer ends in December. Usually I would try and just swap it onto another 0% interest card but with it being a high figure I am not sure if I'll get the credit I need. I'm also so seeing if I should swap the balance onto a % for life card instead then I don't have to worry about the I here at free period ending.

I currently have a good credit score and my credit utilization across all cards is good but is high on the two cards I have balances on. I have also just had a payrise at work and have a good wage in a very secure job.

I was thinking of swapping the balance onto my other cards but they do not have any offers on them currently.

I was thinking of applying for a new card with my bank.

What do you think I should do?

[Deleted User]

Apply for a card with a decent BT offer, but also make plans to get the debt cleared.

Disregard your credit score, as lenders will be assessing you on their own risk criteria.

surreysaver

If you apply for a new 0% card, even if you don't get the limit you want, you can still partially pay off your £12k card with that, and then just pay the difference.

gionnetto

smiler289 wrote: »

One ends next July and it currently has roughly £7500 balance on it, I am over paying on this card and it will be paid off in full when the offer ends.

My other card has £12000 on it but the offer ends in December.

Not sure why you didn't use the money to pay down the one that ends in December before tackling the one that ends in July?

Getting another 0% BT card sounds like a good idea, even if the limit is lower than 12k. Any savings you could use to pay off the 12K?

enthusiasticsaver

I would overpay the December one rather than the one which finishes next July. BT as much as you can but make a plan to repay it this time.