Credit Card transfer query!

AllanM · 9 January 2019 at 9:53AM

Hi all,

Just wanted to ask. I have a MC with a limit of £6300. The balance of which is £4500.
I wanted to transfer to a 0% interest card. I have been pre-approved for a card but it only has a limit of £1200. Will they approve, say a card of £5000 limit? I dont want to apply for this card and then realise its affected my credit score when I then cant transfer the full balance.

I also intend to apply for a mortgage in the next 3/4 months should I just wait until I have done that so it doesnt affect my mortgage app?

Many thanks for any help.:j

BoGoF · 9 January 2019 at 10:08AM

You won't know your limit until a succesful application has been made.

General wisdom is to avoid new credit if applying for a mortgage in the next 6 montha.

TadleyBaggie · 9 January 2019 at 10:15AM

£1200 is pretty much the standard limit when a representative example is shown, it has nothing to do with the limit you will be offered.

AllanM · 9 January 2019 at 11:15AM

Many thanks :beer:

Nasqueron · 9 January 2019 at 11:16AM

Even if it's only 1200 it's still money you aren't paying interest on.

Your existing debt and not clearing it in full will affect your mortgage anyway

AllanM · 18 January 2019 at 10:25AM

So you would advise applying for the card?

[Deleted User] · 18 January 2019 at 10:30AM

Only if you want to pay less interest and save money.

Credit Card transfer query!

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