Balance transfer credit card bad credit

Chancey29

My 0% interest period is up in one month on my credit card which I have a balance on of £2200, I have been looking for a cc to transfer it over to for the past few months and have so far been unsuccessful, I work part time, I'm not a home owner and my credit rating is pretty poor, I have had credit cards I could be accepted for but the credit limit is too low. What am I best to do in this situation? 

CliveOfIndia

Chancey29 said:

I have had credit cards I could be accepted for but the credit limit is too low. What am I best to do in this situation? 

Transfer what you can.  Then see if you can get accepted for another card to transfer the remainder - if not, your only option is to repay the remainder by whatever means you can.

It may be worth popping on over to the Debt-Free Wannabe board and posting an SOA if you're struggling to repay your debt with your available income - you'll receive plenty of non-judgmental advice there.

Brie

Have a look at your credit history and see what other credit you have.  Do you have an overdraft you aren't using?  or another credit card?  Any creditor considering you for a  new card will want to know that you can pay at least their minimum as well as those if you max any other credit you have available.  Even the card that you currently have with the 0% deal will have some unused credit that they will take in to account.  

An alternative - does the CC you have the 0% BT on have any offers for a 0% money transfer?  You might use that to pay money into your bank account and then pay off the 0% deal when it ends.

Chancey29

I have been pre approved for a cc with a sufficient balance, but it is with a bank which is part of my current bank group, so I can't do a balance transfer. If I applied for 2 others with smaller limits, split the balance from my current card, could I then transfer both to the card with the higher limit? 

Jami74

Or just apply for one card and if you get a lower limit do multiple transfers.

Chancey29

Jami74 said:

Or just apply for one card and if you get a lower limit do multiple transfers.

How would that work if my limit is less than I need to transfer?