i have credit card debts from 4 different banks and i used all the limit ,can i do balance transfer 2 othr bnk

Answer 1

consolidate it, it's cheaper on the interest,
this is what I did and it helped me thus far
http://debt-consolidation.50webs.org

Answer 2

You could technically transfer the lot to another credit card simply by applying to any of them and see if they accept you. They will look at different criteria such as how much you earn and how good you are at paying off what you've got already. Try to find a card which has a 0% interest rate for a long period on balance transfers and then also look at what rate they will charge once that period has expired.

However, be very careful. What would happen if you couldn't meet your repayments for some reason? You could end up with at best a default notice which will affect your future credit rating and at worst facing bankruptcy which would have massive and far reaching implications for you. Is it really worth getting another card to max out and getting deeper in debt?

Answer 3

You can try to open new accounts. I just recently did this. Once you transfer one of the cards, call that card company and tell them you want to close the account. Tell them because your interest is to high and that your balance is to low. They will most likely try to get you to stay by upping your credit and giving you a good deal on a transfer. Then you can transfer one or more of your other cards to that card. Just watch what their terms are and how long the transfer interest is. If they won't do anything for you then close the acct. so that it won't show as open credit, then you would have a better chance of getting more credit from someone else. You can only have so much open credit, and it is based on your income. Whatever you do, be sure to shut the cards down and don't put more charges on them, cause if you do, then transferring everything is pointless. Good luck with it.

Answer 4

A friend of mine done exactly the same she also had other debts, you can go to the citizens advice and they then work out what you can and can't afford, the companies are then informed and asked for the interest to stop while you pay back the money as this is what keeps you in debt. In the meantime chuck those letters away from banks and other companies offering you credit as soon as you get them, it's too tempting when funds are low.

Answer 5

If they allow you to yes you could transfer on to an interest free card. But I really think you should try and keep your spending under control. I got carried away with credit cards and ended up using the old ones when I had moved the balances across. It is so easy to do.

Answer 6

You should stop using the credit cards. Figure out how much that borrowing, yes, borrowing that money is costing you and you'll probably puke. It's the same as if you asked a friend to borrow their car and they started charging you $300 per month to use it but added another $10 each month to use it so at the end of a year you were paying $410 per month to use it. But then you would have spent $4260 for using their car for whole year. But then you could have bought a car for that amount instead of using their car which you have to give back anyhow...

Get a hold of yourself and get out of the credit card trap...

Answer 7

You can if you have good credit and enough income...but I suggest if you do transfer your balance that you cancel the old accounts. It's way too easy to get in over your head when it comes to credit cards and they can cost you in the long run....trust me I know, I had credit cards and now I am working on getting my credit back.....all I'm saying is be careful.

Answer 8

you may want to get a debt consolidation loan where the bank pays the debts you have with any other bank including credit cards. in that way u will have to make 1 simple payment evermonth towards that loan. saves a lot of interest and payments. may want to call citibank at 800-627-3999. they offer this program and one of my customers just got one for $24000.00 at a annual interest rate of 9.40%

Answer 9

Technically you could, but I don't think any bank is going to let you open another line of credit if you have maxed out four different accounts. And transferring to another bank won't help you, either. It is very important to have good credit. Please take care.

Answer 10

Try egg, their online banking and credit card, they let me do all my debt in one and i'd pain it off in a year. they had free balance transfers.

Answer 11

Try www.surefirefinance.co.uk for loans, credit cards, bank accounts etc