closed thank you very much

CoreyLewis96

Closed thanks all for your help. 

vacheron

That sounds perfectly sensible providing you close the other 2 cards, as these will be well off your credit report by the time you re-mortgage.

It depends on each person's self discipline, but the danger often seen is that people begin to run up debts on the old cards again, ending up with even more debt than before.

What is the fee for transferring to the 0% card, sadly there aren't any fee free deals any more in my experience?
I have a recent Tescos 12 month 0% card one which has a very reasonable 0.99% transfer fee, which would cerrtainly be worth it in my opinion.

Also, are you sure you will be offered a credit limit sufficient to clear both cards, (remebering that you can usually only balance transfer about 90-95% of the receiving card's credit limit.

CoreyLewis96

vacheron said:

That sounds perfectly sensible providing you close the other 2 cards, as these will be well off your credit report by the time you re-mortgage.

It depends on each person's self discipline, but the danger often seen is that people begin to run up debts on the old cards again, ending up with even more debt than before.

What is the fee for transferring to the 0% card, sadly there aren't any fee free deals any more in my experience?
I have a recent Tescos 12 month 0% card one which has a very reasonable 0.99% transfer fee, which would cerrtainly be worth it in my opinion.

Also, are you sure you will be offered a credit limit sufficient to clear both cards, (remebering that you can usually only balance transfer about 90-95% of the receiving card's credit limit.

Thank you so much replying.

i have been pre approved for £2000 which would cover the £1400. The fee to transfer is 2.9%. 

EssexHebridean

There are still fee free cards out there - that 0.99% would be another decent option assuming you could be approved. I’d suggest using an eligibility calculator like the one on the (free) MSE Credit Club to see what your chances are of getting approved for something with the o west fee possible, for the length of time you need, and also with a high enough credit limit to allow you to clear both the other cards ideally - Although don’t let that be a game changer as if everything else is right you could set to pay a little over minimum on the new card, throw everything at the remaining balance on one of the others, then transfer to working on clearing the new one fully. 

ButterCheese

My partner had about £10k on 3 separate cards, she has been using 0% transfer cards for a few years.  Every time the current one runs out, she finds another deal.  This time she got refused by 2 but on the 3rd one she got approved for £12k.  Makes it much more manageable just having one card, and also no interest.  Just make sure you can pay a good chunk off each month and don't use the others once you've paid them off. 

sourcrates

Moved to credit cards forum.