need help...ive been soo stupid

emandden

hi i got a halifax credit card in march and it said no interest for a year on purchases.i read the small print etc and thought i understood it.i got some cash out at the cashpoint and went over the limit by around £30.then i see they are charging me interest so i call them and they say they can take away the no interest deal if i go over my limit.so now they are going to charge me £45 per month interest.there is no way i can afford this and i will never pay it off.is there anything i can do???

NickX

emandden wrote: »

is there anything i can do???

Speak to them very nicely, and explain that the credit limit breach was an oversight and a "first offence".

They may take pity on you and re-instate your promotional rate.

Alternatively get another 0% card and transfer the balance.

NickX

I think the cash advances will incurr interest anyway, even with the 0% promotion.

Cash advances on a Credit Card are a bad idea unless you have money to burn.

Moggles_2

Not only are you charged a high rate of interest plus handling fees, the payments you make are allocated to other transactions first, leaving cash withdrawals trapped on the card attracting interest.

If you haven't done so already, I would advise you to stop using the card. Have you any other credit card(s) at the mo?

emandden

i got the card in march,bought a second hand car and paid a few bills but not used it since i went over my limit in june.i cut it up a while ago.its my first credit card and definately my last!!

Moggles_2

If the Hally have refused to reinstate your promotional rates and neither you (or your partner if there is one) feels inclined to apply for a new 0% BT card, then I would concentrate on paying off as much as possible each month. Clearing the debt ASAP will reduce the interest you pay and you'll be building a better credit history in the process.

downs523

hw much u spend on it?

emandden

spent £2600 and i will not be able to make huge payments to clear that with the interest they are adding

downs523

def get another card and transfer the balance then u will have 12 months to pay it on new card (normally) if thats too short transfer again

emandden

so get a new card and do a balance transfer right??what card should i get to do that cos as you can see i am clueless!!is the egg card free for a year??

emandden

would this one be ok...http://new.egg.com/visitor/0,,3_84106--View_1763,00.html
and what does the 3% fee mean??