Speculating the availability of 0% balance transfer credit cards instead of getting a loan

tain

We need to borrow £8500

We have £10k available on a money transfer card, 4% fee, 0% interest for 12 months (we have this card already with £0 balance)
The cheapest loan we can find is 5.8% interest
The current best balance transfer card with 0% fee is 26 months

We wouldn't be able to pay off the full £8500 in 12 months, but can eat through a substantial part of that. We imagine we would need a further 12 months 0% balance transfer card at the end of it to clear the debt with minimum interest/fee. Is it foolish to hope this will still be available in 12 months time like this, and should instead plump for the guaranteed loan, albeit higher rate?

We've used 0% spending cards previously, and the credit limit is never anywhere near the £8500 we need (but we've never requested that much, either). 

If there's a better way of chopping this up, or something we've missed, then feel free to go off-kilter. Appreciate all advice. 

tain

Slight curve ball is that the money transfer card has a 2% option, payable in 6 months before interest. We could speculate for just 6 months then get the balance transfer card afterwards, but we imagined the outstanding debt could be too high for the cards available. 

[Deleted User]

I'd look at purchases cards first, assuming you can use a card whatever you need the money for.

tain

Deleted_User said:

I'd look at purchases cards first, assuming you can use a card whatever you need the money for.

Our concern is the credit limit. Is there any way of knowing the credit limit before applying, or while applying? Our worst case scenario is being accepted and completing the application, only to find the credit limit is far too low. 

[Deleted User]

Some cards will tell you, but not many. 

Being offered an insufficient limit certainly isn't a worst case scenario.  A search or two won't be a problem and if affordability is a problem, then it'll be a problem across all your options.

phillw

TSB recently gave me the highest 0% purchases credit limit that I have ever had.
I don't recall if they told me before applying.

tain

Cheers everyone. Applied for a 0% spending card, got accepted with £8600 limit. Which is a very freaky coincidence. 

If I didn't know better, I'd have thought they were reading these threads....!!