Debts all on one card or more smaller balance ones ?

Highlanddream

As the title really. Is it worth having one card with all your debts on, or more smaller balance ones ? ( everything 0%) or do you think it is just personal choice? I have a couple smaller that I could move to one with a larger limit - understand the transfer fee.  Don't know which is better mentally. 

sourcrates

One card with all your debts on?

What if you owe 50k? or 60k? or you have multiple different lines of credit, as some posters on here do, argument doesn't really hold water unless your debts are relatively small and you want them all in one place.

But this scenario will be very unlikely in the vast majority of cases, as only a few cards allow balance transfers, and obtaining sufficiently high credit limits will be a problem, especially if your missing payments, all in all its not something I`d recommend. 

Highlanddream

Owe 6000 on cards. All current. 

sourcrates

I guess if you can transfer onto a zero % card then that might work, all depends what you can be approved for really.

Brie

If you have (for instance) 4 cards with balances that all total £6k then that might be a better option particularly if the 0% offers end at different times.  That could make it easier to continue stoozing the money around.

But ultimately you've got to look at why you have the debt and why it's not being paid off - if that is the case.

Highlanddream

I've paid off 15 thousand since last September . Still have a loan as well of 9200. I am thinking I may find it easier on one card, I do have some offers with enough to transfer it all. 

ManyWays

One psychological advantage of having several smaller balances on 0% is that you can prioritise clearing the one that ends first, many people prefer having small goals to tick off. 

Highlanddream

I'm going to let it ride for now with a few smaller ones.  I think after the next one they are all bigger ones and that will be slow going