Balance transfer help!!

mobo99

Hello all, this is my first post, i have visited these forums for some time but am now in need of some advise, I hope someone can help!

I have three credit cards:

MBNA balance £3500 APR 23%
Citi balance £750 APR 24%
Barcaly card balance £2200 APR 24%

I applied for an Abbey credit card in the hope that I could balance transfer one of the cards and then another so on and so forth, Abbey have accepted the application and given me a limit of £2300 (with a six month 0%, £0.00 for the transfer). Does anyone have any idea of the best way to transfer these balances to help me reduce my debt ie which card should I transfer first?!

Also I was quite supprised when abbey accepted my application as my partner was made redundant and unable to find work for nearly a year which made keeping regular monthly payments very difficult (even missed one mortgage payment) and I suspected it has adversly affected my credit rating. I think abbey has accepted the application as I bank with them and also they want to take MBNA`s customers from them as they have recently split. I tell you all this because some people may wonder why I only went for six months 0% when there are so many longer terms out there (I never thought anyone would accept me).

Can you help? Any and all advise is most appreciated, thank you all in advance for your help!!

clio

If it were me i,d transfer the citbank as that will zero the card out, then whats left i,d transfer the rest fromt mbna. i know that other card is 24 % but the mbna balance is higher so it will attract more interest.

speedbird1973

get rid of the Citi debt, they may offer you a 5.8% Life of Balance deal to transfer some higher debt to.

If you have a card with no balance on it. Phone Barclaycard and tell them, ask them to crystalise the debt on the card at 6.9%.

Finally an empty Barclaycard or MBNA will attract 0% offers so clear one of them ASAP.

You have a lot of options!

Bismarck

what are the limits on the cards you already have?

GeorgeUK

The limits would help - never seen anyone mention crystalising the debt before. I guess you could try asking for that. Hope if works.

Failing that, i would clear the Barclaycard, then citi then MBNA and hopefully you can get good LOB offers or 0% offers from them. None of these have the same card provider so you won't need to worry about that.