Balance transfer and credit limit query

GoodRiddance

If I am currently stoozing £5500 on a credit card which has a credit limit of £5600 and want to BT it to another card, does the new card have to have a credit limit of at least £5500?

Basically I am currently stoozing 1 card but I want to increase my gain and stooze 2 at once, then tranfer them both to a new card in x months. Chances are the new cards credit limit wont be higher than the other 2 cards combined.




(Finally if Virgin money is part of MBNA can I get an MBNA card at the same time as a Virgin card?)

Clariman

GoodRiddance wrote: »

If I am currently stoozing £5500 on a credit card which has a credit limit of £5600 and want to BT it to another card, does the new card have to have a credit limit of at least £5500?

It depends. In an ideal world you would get a card with at least £5500 so that you can BT the balance across. However, you might have to apply for 2 cards to match your existing credit limit. If you only get 1 card with a limit of less than £5500 then you'll need to pay some of the card balance off directly from your stooz pot.

(Finally if Virgin money is part of MBNA can I get an MBNA card at the same time as a Virgin card?)

If you have a good credit rating then I'd say the likelihood would be "yes", but you can never be 100% sure.

Clariman
Clariman