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How likely to get another transfer card once 0% runs out on first?
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jordan1985
Posts: 4 Newbie
in Credit cards
Hi
New to balance transfer type cards, so abit unsure on the liklyhood of this panning out as I hope.
I've got a high credit score (in the top 'excellent' band of the Credit Club Dashboard), and I'm looking to get a 0% money transfer card to shift some debt onto to save interest and charges.
My question is, if at the end of the 0% period, say 16 months, its still not paid off completely (though that of course is the aim), whats the liklihood of being able to get a new credit transfer card to transfer onto another 0% rate?
I know nobody can predict the future and everyone cercumstances are unique, but whats the general outcome. Do banks refuse new cards so soon after the last one, do they need more time between new cards etc?
I dont expect my credit rating to fall much from taking the initial money transfer card, and dont expect anything else that would negatively affect it in the next few years ((except for of course things out of our control).
Any direction would be much appriciated.
New to balance transfer type cards, so abit unsure on the liklyhood of this panning out as I hope.
I've got a high credit score (in the top 'excellent' band of the Credit Club Dashboard), and I'm looking to get a 0% money transfer card to shift some debt onto to save interest and charges.
My question is, if at the end of the 0% period, say 16 months, its still not paid off completely (though that of course is the aim), whats the liklihood of being able to get a new credit transfer card to transfer onto another 0% rate?
I know nobody can predict the future and everyone cercumstances are unique, but whats the general outcome. Do banks refuse new cards so soon after the last one, do they need more time between new cards etc?
I dont expect my credit rating to fall much from taking the initial money transfer card, and dont expect anything else that would negatively affect it in the next few years ((except for of course things out of our control).
Any direction would be much appriciated.
0
Comments
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jordan1985 said:
I've got a high credit score (in the top 'excellent' band of the Credit Club Dashboard), aYour score means nothing, and plays no part in any lending decision.jordan1985 said:I'm looking to get a 0% money transfer card to shift some debt onto to save interest and charges.jordan1985 said:
My question is, if at the end of the 0% period, say 16 months, its still not paid off completely (though that of course is the aim), whats the liklihood of being able to get a new credit transfer card to transfer onto another 0% rate?Bottom line - your really should aim to pay off your card by the time the promotional rate expires, don't bank on being able to get another one to shift any remaining debt to.1
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