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  • FIRST POST
    • cleanfreak.d
    • By cleanfreak.d 12th Mar 18, 3:33 PM
    • 3Posts
    • 0Thanks
    cleanfreak.d
    some advice on CC and balance transfers please
    • #1
    • 12th Mar 18, 3:33 PM
    some advice on CC and balance transfers please 12th Mar 18 at 3:33 PM
    hi

    first time posting.
    in need of some advice. i am a bit of a serial spender and seem to always be in debt.

    i recently consolidated all my debts onto a credit card that was interest free and a low fee. this took up most of my available balance. i also have another CC that i am almost at my limit of since transfer the forementioned.

    my issue is that im the sole income in a family of 5, so money is always a little tight. the problem of adding onto credit cards comes when i need to pop to the shop to get a few essential bits (milk etc) i feel like i cant ask for the money from the other half so it goes on the CC.

    the issue i have now is im looking to get a CC that i can put all of this on. cut up and start again. but as i already have one with the best offer company and one with my bank im struggling to find anyone who will give me a limit big enough to transfer them both!

    please help. stressing my head off
Page 1
    • zx81
    • By zx81 12th Mar 18, 3:35 PM
    • 16,803 Posts
    • 17,813 Thanks
    zx81
    • #2
    • 12th Mar 18, 3:35 PM
    • #2
    • 12th Mar 18, 3:35 PM
    You take whatever limit anyone is willing to give you and transfer what you can. If it's not enough, you apply for another.

    Once you start getting rejected, stop.

    Hopefully you haven't declined any of the offers you've been given?
    • cleanfreak.d
    • By cleanfreak.d 12th Mar 18, 3:38 PM
    • 3 Posts
    • 0 Thanks
    cleanfreak.d
    • #3
    • 12th Mar 18, 3:38 PM
    • #3
    • 12th Mar 18, 3:38 PM
    im worried about having debts all over the place. the only ones im being eligiable for (not credit score checked as yet) are high interest.
    • zx81
    • By zx81 12th Mar 18, 3:42 PM
    • 16,803 Posts
    • 17,813 Thanks
    zx81
    • #4
    • 12th Mar 18, 3:42 PM
    • #4
    • 12th Mar 18, 3:42 PM
    It sounds then as if you won't get a promo offer.

    Time to do a SOA and let the good people of this board help you cut costs and throw more at the debt.
    • cleanfreak.d
    • By cleanfreak.d 12th Mar 18, 3:45 PM
    • 3 Posts
    • 0 Thanks
    cleanfreak.d
    • #5
    • 12th Mar 18, 3:45 PM
    • #5
    • 12th Mar 18, 3:45 PM
    sorry SOA?
    • zx81
    • By zx81 12th Mar 18, 3:50 PM
    • 16,803 Posts
    • 17,813 Thanks
    zx81
    • #6
    • 12th Mar 18, 3:50 PM
    • #6
    • 12th Mar 18, 3:50 PM
    Statement of Affairs.

    http://forums.moneysavingexpert.com/showthread.php?t=562271
    • Westie983
    • By Westie983 12th Mar 18, 4:23 PM
    • 4,328 Posts
    • 14,888 Thanks
    Westie983
    • #7
    • 12th Mar 18, 4:23 PM
    • #7
    • 12th Mar 18, 4:23 PM
    You may get more help if you post this in the credit cards board, that said you will still get some help here, but as you are asking about credit cards and balance transfers, you find more detailed answers and help there.

    http://forums.moneysavingexpert.com/forumdisplay.php?f=11

    Westie983
    Save 12k in 2018 #10 Total (25,000)+10,000/12,000 = 83.33%
    Sealed Pot Challenge ~ 11 #97 Total (410) + 40/500 = 8.00% ( x 11)
    Xmas 2018 1 a Day #2 Total 62.59/365 = 17.14%
    Virtual Sealed Pot #1 Total 750/1,000 = 75.00%
    2 Savers Club 2018 #16 Total (1,500)+-480/2,000 = 51.00%

    Total 11,872.59/15,865 = 74.83%

    I'm a Board Guide on Budgeting & Bank Accounts, Debt-Free Wannabe, Disability Money Matters, and Savings & Investments. I'm a volunteer helping the boards run smoothly, but I'm not a moderator, and do not read all posts. If you see an inappropriate/illegal post then email forumteam@moneysavingexpert.com
    • enthusiasticsaver
    • By enthusiasticsaver 12th Mar 18, 6:39 PM
    • 6,383 Posts
    • 13,107 Thanks
    enthusiasticsaver
    • #8
    • 12th Mar 18, 6:39 PM
    • #8
    • 12th Mar 18, 6:39 PM
    I think your problem is budgeting rather than balance transferring credit cards. Credit card debt at 0% is an acceptable option for buying things over a period of time to reduce the monthly cost like a new washing machine, car or sofa or whatever. Buying food on it when you run out of money means you are overspending. Building it up would be a mistake as then you have to allow repayments from a limited income.

    Post an soa and start a spending diary to keep tighter control on costs. Why only one income? Are you a single parent?
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
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