CreditCards Blog

Hi
i think i have done a bobo. I have a capital one c/card which i owe 3600 with 0% till January 09. so i have applied for a new c/card with virgin with a 2.98% balance tranfer fee and 0% for 16months. But when i complete the online form bit it came back with only given me a 1500 Credit limit. O dear as i wanted to transfer the full amount so i am unsure what to do. should i apply for the remaining balance with another card. Please help :confused:

Well 1500 at 0% is better than nothing. Transfer what you can to that card & the interest payments for your capital one card will come down. Look in the mean time for another card, however don't be surprised if you don't get a limit which gives you what you need.

Call MBNA and ask if they'll increase your credit limit to absorb all (or more) of the Capital One debt. Ask to speak with an underwriter if necessary.

The best time to do this is either now (preferable), or at the latest when you call to activate your card...not once you're up and running. You may have to supply further information about your financial circumstances, so be prepared to answer questions on this.

MBNA will most likely carry out a second credit search, so if you're at all doubtful of success here then make your application for another card before ringing MBNA.

Whatever you do, do not cancel the Virgin application. Take whatever you can from them.

Hi
i think i have done a bobo.

Do you mean you think you have defecated?

Do you mean you think you have defecated?
Hi Moneysavingallday
No i just though i could transfer all my debt onto one card. But as yorkshire boy said i might ring up Virgin and see if they can increase my limit. And then what ever they give me look for another card for the rest. Sorry if this is long winded hope you get what i mean