Consolidation of 2 CC 12 August 2022 at 1:31PM in Credit cards 2 replies 91 views

custhasno

I have 1k and 1.5k in two separate credit cards and was curious about the best way to consolidate the two. My current guaranteed approval is £1200 and my score is recovering by about 30pts a month due to old debts being cleared. I'll cross 500 next month.

I'm looking for the best 2ay to consolidate these and where possible get some interest free time to pay the balance down by £50-80pm

Catsacor

Rather than consolidate into 1 large figure restrict all spending and pay off small amounts to reduce the highest interest rate first.
Your credit score actually means your credit history, the data within that large file - not the score seen by only you.

[Deleted User]

You'd look to BT the debts to a new card.

The £1200 is a representative example, not your guaranteed approval. You'll find out your limit on acceptance.

Your 30 points a month are of no use - your credit score isn't a factor in lending, or in anything else. Lenders will judge you on your credit history. However, if you are having trouble clearing a small debt, your chances of a decent offer are slim.

It may also be worth a trip to the DFW boards for advice on clearing your debts faster.