Balance transfer credit card

Teya36

Hi all, I have a big credit card debt that I'm paying 22% interest on. I'd like to mive that to a 0% interest card, yesterday I did this online. Applied for a card (told them the amount I wanted to transfer) and got approved. Excellent I thought, now I can really crack on with getting that down. I have savings that I want to put towards paying a chunk off straight away, but don't want to waste that money paying the interest on the current card. I've just logged onto the new card bank and they've only approved me half the amount I need. Which feels pointless a sill now being paying two credit cards. Maybe niave of me but I assumed they'd approve the amount you needed (£7100) can I just decline this offer/card and apply for another or will that affect my rating now? How do I avoid the same thing happening again in another card? Thank you 

Nebulous2

If you have £7k at 22% it will be costing you £1500 a year. Moving half of it to 0% will save you £750. For me that would be worth doing. 

I'd apply for one more 0% card and see what you get offered. If you are able to get it all at 0% over two cards that gives you a breathing space to repay as much as you can....

MorningcoffeeIV

It's definitely not pointless. You're paying two credit card but half the interest. Total result.

Transfer what you can and apply or another card if you really can't clear the other card.

And again, take whatever you're offered 

Teya36

Thank you, I must sound niave I didn't know i would be able to spread it among more than one card. I've only ever had this one card, the same one I had when first opened account 20+ years ago. It's taken a bashing the last few years when I left a decent paying job, I now want to get it down as quick as I can. I will apply for another 0% and cross fingers I can get the whole balance moved between the two.