Appreciate Some Help from Financial Gurus

linoc66 on 30/03/2017 - 21:26

Hi All,
Got myself into a bit of a bind, researching possibles to take a bit of pressure off.

Went to HN to purchase flooring, let myself get talked into 6mths interest free on a Go Mastercard, 8k, never had one, did the app on the spot, wasn't aware of the ridiculous F&Cs until first statement.

Also have a CC with my lender, currently ~4k, asked if they'd do 12mts BT, best they do is 6mths.

So I was thinking a BT setup, 18 to 24mths (may not need that long but just-in) without fees, cancel the other two cards.

Just been searching this site, the 18th westpac umbrella ones are over, back to 12. Rate city seems a bit confusing for me, virgins offer doesn't show up (which has fees).

Anything I'm missing, not aware of, suggestions?

Thanks in advance ;-)

Financial

Comments

  • chumlee on 31/03/2017 - 06:41

    You just got an enquiry on your credit file for the GE card so just keep in mind another credit enquiry so close may decline you but also depends on other circumstances also

    • linoc66 on 31/03/2017 - 08:31

      Application was done late November, 4mths ago, would that be to close?
      Only needed it to cover the flooring costs, 8k, but HN ran the app and got me approved for 16k, obviously don't want/need the extra 8k with their T&Cs.

      Predominantly I'd just like to get rid of the go/ge card, avoid the high F&Cs, int free period runs out in ~8wks, then high int charges starts, if I can move that to a longer term BT, preferably with 0 or no f&c's it would take some pressure off.
      At the same time thought I'd throw the 4k on it, start fresh with just the one card, cancelling the other two.

      • chumlee on 31/03/2017 - 09:39

        4 months ago should be fine if there were no other credit enquiries since

  • Adz81 on 31/03/2017 - 09:15

    I used Citibank to balance transfer my way out of 2 toxic cards (including the GE one), paid well and above the required payments, had no issues with them and found them a breeze to deal with.

    https://www.citibank.com.au/aus/credit_cards/creditcards.htm

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