ADVICE - Balance transfer option

mbell998

Hey all

I have two cards and the balance is around 50% on the main one. The second one is almost clear.

Currently paying interest and minimum payments in excess of £150, but my second card will allow me to absorb all or most of the balance here under a zero interest promo. Doing so though would max it out, with the minimum payment is 1/3 of the primary card.

The goal here is to reduce debt as much asap, to aid a mortgage application in the near future

So am i best having a high balance and pay interest because its 50% of the credit limit and chip away at it slowly, or max out card two and pay the triple the minimum payment resulting in a lower balance overall when it comes to mortgage time.

Conscious that credit scores are impacted by debt to credit amounts, but im unsure whether retaining the primary card will mean i my score will be minimally impacted or if its based on each card and its balance.

I hope this makes sense and appreciate any advice that can be given.

[Deleted User]

Credit  scores have no relevance to anything. They're simply a comedy gimmick, and not used in lending criteria.

If you can move your debt to a lower APR, then do so.

jonesMUFCforever

Whatever you do make sure you clear the credit card debt before applying for the mortgage.

femalemonarchfemalecanine

move as much as you can to the lower rate. you'll have the same overall credit limit to debt ratio, but it will improve quicker.
the score is nonsense and will move up and down for the slightest reason and sometimes for no reason at all.