50% chance with ‘pros’ or 95% chance without?


Hello people,

First-time post asking for your opinion(s) and/or advice. Apologies if this post is in the wrong place, I’m not exactly forum savvy !!!128580;

So, I have two bad-credit-esque cards both near their limits: CapitalOne – currently @ £650, and Barclays – currently @ £1900. I’ve not been very sensible with them in the past, but I’ve been gradually improving my credit file/score in general, and I’m keen to continue in the same vein. As such, I plan to apply for a 0% balance transfer card and transfer both of these balances on it to pay it off going forward.

My credit score – for what it’s worth (from what I see on here, it doesn’t mean much), is ‘fair’ on both Experian and Call Credit, and ‘good’ with Equifax. Using both Experian’s free credit check service and CreditClub, it seems I have two possible/decent enough options:

Tesco CC – 0% fee & 0% up to 22 mths + potential £30 topcashback. 50% chance according to Experian comparison (Tesco don’t currently have an eligibility function).

MBNA CC – 1.99% fee (~£50) & 0% up to 36 mths. No potential cashback. 95% chance according to CreditClub comparison & checked on MBNA eligibility checker.

So, it seems with the Tesco option I could potentially be £80 up (less ~£50 MBNA transfer fee + £30 cashback), but I have a lower chance of success, whereas MBNA I’d potentially be ~£50 down, but have a higher chance of success.

Answers [thoughts] on a postcard, please.

Thanks in advance guys.


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