Any advice on whether i should apply for a new card?

woosutt

I'm really not sure whether i should apply for a new 0% or low interest credit card.

My partner and I have 16k debt spread over credit cards, overdrafts etc.

I have a virgin credit card with £7850 on at 0%. But this 0% runs out in August.

I also have £1580 on an hsbc credit card and found out today i'm paying 19.9% on this!!

I only earn £16000.

Basically i'm not sure whether i should apply for a new credit card now so that i can move the balance from my hsbc? Or whether i should wait until August when i will need a credit card for the balance on my virgin?

With 13k credit available to me (8k on virgin and 6k on hsbc), would I be likely to get rejected when applying for a new card because i'm only on a 16k income? Can anyone recommend any cards that tend to be lenient on low earners?

I have just applied to check my credit reports but have to wait for a pin to arrive before i can view this information.

Also, i haven't applied for a credit card or loan since July 07 so its been a long time since a search was carried out. But my husband applied for a credit card in February (and got accepted) and a loan in march (and got declined). Do my husbands searches count towards my search number? And will the fact that he was declined for a loan affect me?

My husband is on a much higher income than me but we don't think it would be wise for him to apply for a new card for us when he has made 2 searches in the last 4 months.

Any advice?

Thank you in advance!

londonbloke_2

I am not sure of anything specific but if anything is linked in between you and your husband then, the search might reveal all associated to each other.
Have you guys checked your credit reports. From there you will get the clear picture of what is linked to what.
I heard that a credit search a month from different companies is fine, as long as not the same company within 6 months time.
but make sure before doing any search that you consult with more people.
good luck

DestroyingAngel_2

Hi woosutt,

Try asking Virgin for an extension of the 0% on your existing BT. Say you'd like to transfer the £1580 from HSBC to Virgin, but only if they'll give you an extension of the promotion. Also, if you only have £8000 credit limit on your Virgin card, it might not be possible to transfer the £1580, unless you ask Virgin to increase your credit limit in order for you to do so. You'd be looking at upping the credit limit by about £2500.

Ask to speak to their Customer Loyalty department, as these folks have the authority to extend promotions. For the credit limit increase so you can fit the BT in, ask to speak to their Credit Line Management department. It could be that Virgin are so eager for your custom that they'll do everything for you without having to transfer you around.

Good luck!