Balance Transfer Credit Card with high limit?

baasheeep

I currently have just under £4,000 of debt on a credit card. Unfortunately I had to use it for a few emergencies and because of that I now gain about £45 interest on it while paying off £85 every month via direct debit, which means I'm really only paying off £40 per month. This is not helping me pay it off at all.


I'm looking for a way to transfer this balance to another credit card, preferably with no fee and at least 12-24 months time at 0% interest so that I can realistically pay off all of my debt. However, when I have looked into transfer balance credit cards, I either can't find details in regards to the credit limit or I've only been able to find credit cards with low credit limits of £1,200.



Can anyone please help me? What would be best for me to do in this situation?



I really want to pay off my debt as soon as possible, without extra interest charges.

[Deleted User]

You're looking at the representative example. It's not the credit limit.

You'll be told your limit upon acceptance.

Ben8282

As your current credit card obviously has a credit limit in excess of £1,200 they must exist.
When you obtained your current credit card did you find out details of the credit limit before you applied for it?

cjv

If you are paying £45 interest per month on your £85 payment I would personally not worry about searching for a no fee balance transfer. A fee will still save you a large amount of money.

Use an eligibility checker to get an idea of what cards you may be accepted for and take it from there, even if you need more than one card to cover the balance transfer of your debt.

You could start here: https://www.moneysavingexpert.com/eligibility/credit-cards/

Personally I found Barclaycard and Tesco to give generous limits, but this is dependent on your own credit history.

Good luck!

baasheeep

Thank you all for your advice!

PRAISETHESUN

Use an eligibility checker. Transfer as much as you can to a 0% card and throw all your money at the remaining interest bearing debt (if any). You won't know your limit until you make a full application and are accepted, but it's better than staying where you are now and continuing to pay a fair whack of interest every month.