Aus credit card debt - help!

tobes_2

Hi all,

I have a debt of about $5000 on my Australian credit card (about £2000). Unfortunately the card has a high rate of interest (16% or so).

Obviously I would like to get a better rate of interest on this debt while I pay it off. A transfer to a 0% balance transfer CC would be great, but I have only lived in the UK for a little over a year and so getting a CC with a decent limit is hard (all the online applications ask for years of addresses in the UK). I am assuming I can't get another CC in Australia with a 0% balance transfer because I don't live there anymore.

I have a NatWest account and CC, but the CC limit is only £150 and I don't think they would increase it much. My monthly wage is £1474 and I have a £500 overdraft (which I usually go into by about £300 per month). I can do international transfers using tntforex for £7 per transfer.

There is probably a really simple solution to this. Help!

johannamse

tobes wrote:

I have a NatWest account and CC, but the CC limit is only £150 and I don't think they would increase it much.

Have you asked? You earn good money and if you have managed your ac well, there is no reason why not. Go for it - and ask if they can give you a low balance transfer rate.

Once you have a higher limit, you can apply for another card, referencing your higher limit with natwest, and hopefully get a 0%.

quixy_2

which bank is the australian cc with? Reason I ask is if your lucky its a non global bank and you might be able to "forget it"