What's the max you've borrowed on credit cards?

[Adsibob]

We are probably going to be about £40k over budget. Have tried to accommodate this by getting more and more credit cards. I currently have four with about £20k of debt on them, all at 0% (although on two that rate will expire in a few months a handling fee of 3% will apply to tart the balance to another credit card lender). My question is whether I can continue to take out new credit cards until I have £60k of debt on them? Is that feasible or does there come a point when the credit checks on these credit card applications just flags me as too risky. I think I have a good credit score, owning three properties (including my self build/renovation project) and have substantial mortgages on all of them. The mortgages are all sufficiently affordable that I could borrow the £40k on one of the properties when I remortgage, but I can't do that for a while else I will get stung by early repayment charges as all three mortages are fixed for the foreseeable future. A second charge loan is not really worth it because much more expensive than even the credit card route.

[recoveringbuilder]

Have a look at your credit report, if you go over 50% of the agreed borrowing (so if your limit is 10k and you use say 6k on that card ) this affects your credit rating especially if you are not clearing it every month.

[Adsibob]

9 minutes ago, recoveringbuilder said:

Have a look at your credit report, if you go over 50% of the agreed borrowing (so if your limit is 10k and you use say 6k on that card ) this affects your credit rating especially if you are not clearing it every month.

So in that case it would make sense to pay off my credit cards in full and then max them out again. I just haven't been bothering because they are 0% cards.

My credit score is 743/999 according to Experian, which gets an amber colour on their scale below. No idea what "fair" means.

 

[recoveringbuilder]

I wouldn’t be paying it all off if it’s on zero percent because you’ll probably lose the offer then but I would be paying more than the minimum payment so that it is noticeable every month that it is going down 

[ProDave]

I was under £10K on 0% credit cards and getting worried about rolling them over as they were near the end of the 0% period, and to roll them over you need to find a current 0% offer with a different card provider.

 

Thankfully the VAT refund arrived in time to clear all the debt.