HSBC Credit Card - I Need OUT!

katethegeek

evening all, can anybody help me out?

currently i have a HSBC credit card but, being a student, i'm struggling to pay it off. i make the minimum payment each month plus whatever i can afford but this month i've still had almost £70 charges in interest on there.

i can't be doing this anymore but whats best to do?
is it possible for me to apply for another card and transfer the amount over?
what, if any, cards offer a 0% interest?

... what can i do to get this paid off! i don't have much experience in banking, so i'm lost with jargon!

any help / suggestions appreciated!

latecomer

trouble is that as a student you dont have an income and that will probably restrict the cards you would be considered for.

That said there could well be specific deals for students. Do you have an overdraft with your current account? If not then can you get a low interest/ interest free one?

Try having a read of this:

http://www.moneysavingexpert.com/banking/Student-bank-account

katethegeek

latecomer wrote: »

trouble is that as a student you dont have an income and that will probably restrict the cards you would be considered for.

That said there could well be specific deals for students. Do you have an overdraft with your current account? If not then can you get a low interest/ interest free one?

exactly what i was thinking. i'm in a pickle.

i have an overdraft with my student current account, but its pitiful and won't cover that amount. how likely is it that they could increase that?

thanks so much for the help!

latecomer

If you post some more details like the interest rates you are being charged on both the card and overdraft then it might help get some suggestions.

There is no harm in asking the bank to increase your overdraft. the only thing thats certain is that they wont increase it if you dont ask

Not sure if this is a possibility but if you dont already, could you get a part-time job to get some extra cash? Bar work or supermarket work just about anyone can do, the hours might not be great but its a job (and I think most students do one of them at some point, I certainly did!)

DipStick

katethegeek wrote: »

i can't be doing this anymore but whats best to do?

Stop spending, swallow your pride, get an evening job, pay off the debt. McDonalds or bar work as latecomer suggests.