Help my brain hurts! 0% Credit Card merging and paying off a Loan

saz2696

I have just started paying interest on a £4000 Credit Card because i forgot to transfer the balance within 6 months.

I applied and was accepted for an abbey zero card which i thought i could use to pay off this card as it had no transfer fee. The card came through today but only with a credit limit of £2300 which has already been deducted from the £4000, leaving me with a card with £1700 on which im currently paying interest on and a maxed out £2300 credit card which is interest free for 6 months.

I have just been accepted for a virgin card with 0% balance transfer for 15 months with a credit limit of £4300, but with a 3% charge. It is due to arrive in 7-10 days.

I also have a loan which has 2 years remaining with interest rate of 7.9%, and a current settlement figure of about £11000 which I'm paying £500 a month for.

In an ideal world i would like to be making one monthly payment of around £500 paying 0% interest on all my debts. As this isnt going to happen any suggestions on how i can sort out my debts? There surely must be an easier way for me to be doing this? Thanks x x

OliveOyl_2

It can be a nightmare can't it?

Obviously it would be better to have more debts at nought, than paying any interest, the trouble is it is very easy to miss the finishing date - I know from experience
Martin/MSE offers a reminder service, you give the details of the end date & lender and you get an e-mail or text in time to switch again :money:

But for my own peace of mind, I have a couple of my debts on LOB (life of balance) rates, these I plan to clear when the 0% ones are gone, and I have no deadline to think of.

In the meantime, I have set up a DD for every card for the minimum payment on the 0% cards, and a Standing order for the LOB cards. Then I just chuck extra money at whichever one I choose - usually the one with the about-to-expire 0% rate