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I'm not in any arrears, but wonder if I apply, because I have others, I may get turned down. Can you recommend who to apply to? Thanks
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8790% cards are an incentive for you to use that provider for the future. Consequently, you can't get one if you already have one from the same group. Check which groups provide each of your cards here http://www.stoozing.com/cards.php
You can re-apply after having officially closed a card for at least 12 months. That means writing to them to cancel rather than just stopping the use of the card.
The other matter is that all the credit levels on all your cards are aggregated in determining what, if an credit level you can have on a new card. So close any unused cards officially.
Barclaycard have a 22 month deal at the moment.
However, if you have no arrears, does that mean that you pay them all off at the end of the month? If so, you don't need a 0% card because you don't pay interest anyway. Or do you mean that have always paid at least the minimum amount without any late payments?
Mike
Posted on 24 October 2011 |
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0 879If there is a group on that list that you haven't got a card from then transfer what balances that you can that are interest payable now followed by those where the peiod expires the soonest.
You should aim to reduce the debt by paying the minimum on all other cards except for one which you concentrate on clearing. Once that is clear go on to the next one. The order should be highest interest rate first followed by shortest remaining 0% period.
Use one card for which you have cleared the balance for any new spend and settle that one in full monthly. That way you have more at 0%.
Mike
Posted on 24 October 2011 | Love 0 loves
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0But, will card issuers be inclined to refuse me a card (based on my current borrowing levels) although I do not miss any, due, payments? My reason for wanting to move is to not be paying the interest, but, in fact, using the saved money to reduce the overal balance. Or are there better ways to deal with this? If there are, what are they?
Thanks.
Posted on 24 October 2011 | Love 0 loves
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879They also take into account all your unused credit limits. This is one reason why you should formally close any unused cards. The other reason being so that you can re-apply later!
From what you have said, you seem to have several cards which could mean that you can't get any more. However, I have no idea what your credit score is or what your income is. This is not the place for divulging personal information.
You could try closing any unwanted cards and allow a couple of months for the info to reach your report before having an exploratory chat in branch somewhere to see how the land lies.
Mike
Posted on 25 October 2011 | Love 0 loves
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