Help!

ashleyfae

The light bulb has gone on and I have decided 2006 is the year I sort out my money matters. I have a credit card debt that was on 0 % balance transfer card until I foolishly spent on it. I have decided that it is probably best for me to set up a low interest card for life of transfer such as AMEX and set up a standing order each month to pay it off. The only problem is that I also have an overdraft that I would like to transfer over. AMEX wont do a super balance transfer so I am a bit syuck. Does anyone know of any cards that do without charging a fee? I could then open that and then transfer it over to AMEX!

Thefunkygibbons

Most charge a fee

The only one which does not is MINT, but they use cheques which are free after a month or two, you need to check the current conditions

grumbler

About the same question was asked today here: CC to pay off overdraft?

Also read about Egg Money card in this article: REVENGE! Make Free Cash from Credit Cards. It can be used in combination with some other card.

BTW, for regular monthly payments it is better to use Direct Debit for minimum payments plus single payments or Standing Order to pay extra every month.

ashleyfae

So it seems as if I can't get a free balance transfer .My overdraft is 1,000 so do you think I would be wise to just pay the 2% transfer fee and get it over to the AMEX where I would be then paying 4.9% on my whole debt of £3,700. It doesn't seem a big debt but 2 years ago it was as much and myself and partner added all our debts,car loans( 30k) onto our mortgage. I know that was financially crazy but we needed to lower our outgoings!And now it's creeping up again!
Also has anyone any advise on what they think the rough weekly budget for weekly shopping chould be. I asked around and came up with £80 which was lower than alot of my friends. My partner thinks this is an outrageous amount. We have 2 children both under 5 and one in nappies still. Any advice?

frosty

why dont you apply for another 0% card?I have just got a M&S card 0% for 6 months with no BTF.

frosty

ashleyfae,have you looked at the money saving old style page,everyone there will be able to give you lots of help,my shopping bill for the week is £50.00,this is for 5 adults 3dogs and the cat,we very healthy meals,I do a lot of home cooking and we do not eat rubbish (junk food)My food bill before joining this site was well over £100.00.

ashleyfae

Thanks I will look at that sifht about the food bill.
Regarding trensfering to another 0% I have been doing that for a couple of years and now just want it all on one for the life of the debt. If I then set up a direct debit of a set amount I know it will just go down and down and I don't have to keep getting new cards.

frosty

it might be worth posting on the credit card thread,some one there might be able to help you.