Getting in Best Position for 0% deal

Bimbly

I'm looking to buy some furniture later this year and there is a 0% finance deal offer. Even if I have the cash, I usually go this route to earn interest on the money in the meantime. But I have quite a lot of credit at the moment, and I'm wondering what I might do to put myself in the best position to take out this deal.

I currently have two 0% credit card deals running with a close to max balance on them (one runs out Nov '24, the other May '25). The cash to pay these is in high interest savings accounts, some locked away, some not. Also, I did my boyfriend a favour and his phone finance deal is in my name (I pay it, he pays me). 

My mortgage fixed rate runs out June '25 and I guess I don't want to jeopardise getting a good deal on a fixed rate then (may change lender). Otherwise, I have a good credit record, two spending credit cards which get paid off every month and a few too many bank accounts from when I was chasing switching deals and/or high savings rates.

I've never had an issue with getting credit and good rates, but last year Barclays wouldn't give me a credit card. I assumed this was because I had recently paid off a couple of 0% credit cards and closed the accounts. I may also have recently closed one or two bank accounts which no longer had a deal running. Since that time, and because of this, I haven't closed any accounts.

Is there anything I could/should do to make sure the furniture 0% deal goes through? If it's a two-year deal, for example, and I have to pay off the Nov '24 card a bit early to get it, then that seems worth doing. Of course, I could just use my savings to buy the furniture and be done with it.

Brie

it could be the credit available rather than the debts on the cards.  Barclays had become extra strict on available credit so I'd shut them down in my opinion.  Meanwhile any credit you have available that you don't need, I'd reduce that as well.  Look at reducing overdrafts too it you have any.  All of these feed into the amount of credit that a mortgage lender needs to take into account.  

Nasqueron

I would say the opposite of the above, having credit shows you are a good risk to other lenders, closing accounts and reducing balances is only seen on the facts i.e. a card was closed, the credit limit was reduced - lenders don't see who closed it or why, they may have to assume the card issuer did it because they decided you are more of a risk than they wanted.

The primary driver for credit acceptance is income, current debt and credit history not available credit

Bimbly

Having thought about it, I think I'm just going to pay "cash" (after at least £100 on credit card) and see if I can get a deal. Much less headache at the end of the day.

Thanks for responses.