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Credit Card
NARJIT1
Posts: 1 Newbie
in Credit cards
:money: Help please.I have a credit card from the Yorkshire bank with a £7900 credit limit.I make minimum payments around £234 every month at 2.5%.I am now struggling to even make the minimum payments now.Is there any way i can do a balance transfer to another card and i would like to know if i can cancel payment protection insuarance on this card as i am in a payment protection scheme through the Union
0
Comments
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Why would a balance transfer affect the minimum payment?0
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You can transfer to Virgin to get 16 months at 0% with a 2.98% fee and the monthly repayment will be £25 until the 0% period is over. It may give you some breathing space to cut expenditure elsehwere or earn more.0
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With an 'average' credit score, a limit of £8K to allow the transfer is probably a big ask though.0
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I agree. If he could transfer some it would be a help but I think we will have to cut costs/earn more0
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A minimum payment of 2.5% on £8K is just £200 though. How much is your minimum? If you're struggling to pay this each month, it does sound like you need more than a balance transfer to get on top of this debt.0
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