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4 credit cards?

March 18th, 2015 at 08:39 pm

I signed on to check my bank balance this evening and an offer of a 0 percent credit card appeared. I think it was for 15 months. If I apply I would transfer some of cc#2. My only issue is that I'm not sure I could juggle three cards. As it stands right now I technically have three:

1. Capital one - transferred balance to a zero percent card in sept
2. Bank of Scotland - 4k balance
3. Tesco - zero percent

Could i handle another?

Posted in Uncategorized | 3 Comments »

3 Responses to “4 credit cards? ”

  1. creditcardfree Says:
    March 18th, 2015 at 08:44 pm 1426711483
    1426711483

    The more you have the harder it is IMO. You would have another obligatory payment each month even though the debt amount is the same. I wonder if your credit is good enough to get enough credit to transfer ALL of cc#2. Likely the only way to know is to apply. After that you can decide what to do with that available credit. The ideal situation would be to get rid of one of the other cards.

  2. DecisiveParadox Says:
    March 18th, 2015 at 09:33 pm 1426714429
    1426714429

    I agree with credit card free,
    The more parts a system/Machine has the more that can go wrong.
    You are doing so well paying everything down now I cant see you 'need' it but you know your situation best.
    You could wait and if you ever needed an additional card later you could always save the offer and redeem it when you really need it.

  3. snafu Says:
    March 19th, 2015 at 01:50 am 1426729801
    1426729801

    As I see it, the issue is can you manage to pay BP 270. per month, each and every consecutive months, to clear the existing 4K CC debt in 15 months? 2nd, are they willing to transfer the entire existing balance without adding fees that increases the sum owed? I recall you plan to return to work and I am guessing there are costs for child care, transportation, increases in food costs as it's really hard to manage youngsters, household duties, laundry, meals, packed lunches and unanticipated costs.
    Does DH sign on for any chores?

    Given the unknowns at this point, do you really want to take on the challenge of more financial obligation? Decisive Paradox makes a good point, save the offer and re-evaluate it at a latter date.

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