Laura's K.I.S.S DFW diary

Primula

Ggrrrrrrr to HSBC and their bad bad bad interest rate. You write that letter to them girl. Can you not transfer it to a zero percent card? And then chop chop chop it up.
You're doing great though and you will definitely manage to find the £4. Get looking down the sides of the sofa, in jacket pockets, in OH's pockets if need be!

laura2481

Primula wrote: »

in OH's pockets if need be!

:rotfl:I would, but he'd notice! :rotfl:

I applied for a 0% virgin card a couple of months ago, and transferred most of Halifax card balance to that one. I'll leave it a few months, definitely until I've cleared off the Halifax card completely and then see about anothe 0% card. Don't know if there are many companies around that I haven't been with before If you have cancelled a card completely can you reapply as a new customer? eg- I had a capital one card a few years ago but have since cancelled that. They were one of the reason my debt started spiralling- they gave me a credit limit of £4000, when my previous card was only £1000.... and so it began! :rolleyes:

laura2481

7 days until payday! :rotfl:

laura2481

I have been giving some serious consideration to the possibility of a consolidation loan, to put my credit card debt all in to one place with one fixed payment and more importantly fixed interest rate. Just recently the fact that those pesky credit card folks have been sneaking the interest rates up and up has been really getting my goat. However- I would like to get a loan of £5000 or less. Have an interest rate less than 10% and the ability to repay early so that I could make 'overpayments' into a savings account to repay early 'meet in the middle' as it were. That's a lot of factors... I need to give it some thought..

mooomin

laura2481 wrote: »

I have been giving some serious consideration to the possibility of a consolidation loan, to put my credit card debt all in to one place with one fixed payment and more importantly fixed interest rate. Just recently the fact that those pesky credit card folks have been sneaking the interest rates up and up has been really getting my goat. However- I would like to get a loan of £5000 or less. Have an interest rate less than 10% and the ability to repay early so that I could make 'overpayments' into a savings account to repay early 'meet in the middle' as it were. That's a lot of factors... I need to give it some thought..

*Puts on bankers hat*

When I worked for Evil Sales Section In Bank the loans were tiered so the less you borrowed the more you paid, meaning that you had to borrow more than (I think) £7,000 to get a rate of 9.9% or even close to.

It will be tricky for you to find a loan with that degree of flexibility too. How are your credit limits? Can you clear one card then ask them for a LOB transfer rate? I got Mr Fresian a rate of 3.9% on his credit card which is ace as I'm making his payments at the moment :rotfl:

Post your details including credit limits and rates and I will put my thinking cap on!

laura2481

HSBC has a limit of £3k. Balance £2449 but evil interest rate of 21.9%

Virgin has a limit of £2600 but outside balance transfer period now. 0% interest until August next year on balance of £2375

Halifax account is closed (I can no longer use card/balance transfer but interest rate is fixed at 19.9% until balance is cleared, which will be the start of October.) balance is £220

So you see- i don't really have any room to shuffle stuff around. I was quite happy as I was until Halifax sneaked their interest rate up again. It seems the more I pay off that card the more they bl00dy charge me!

mooomin

laura2481 wrote: »

HSBC has a limit of £3k. Balance £2449 but evil interest rate of 21.9%

Virgin has a limit of £2600 but outside balance transfer period now. 0% interest until August next year on balance of £2375

Halifax account is closed (I can no longer use card/balance transfer but interest rate is fixed at 19.9% until balance is cleared, which will be the start of October.) balance is £220

So you see- i don't really have any room to shuffle stuff around. I was quite happy as I was until Halifax sneaked their interest rate up again. It seems the more I pay off that card the more they bl00dy charge me!

Hmmm...it's tricky. The interest rates are high. Can you clear Halifax in a few months do you think as the balance is quite small. Any chance of a new 0% card to transfer HSBC onto?

laura2481

flying_fresian wrote: »

Hmmm...it's tricky. The interest rates are high. Can you clear Halifax in a few months do you think as the balance is quite small. Any chance of a new 0% card to transfer HSBC onto?

Yeah, halifax card will be gone at the beginning of October (after pay day!) Big payment next week after payday then last payment after next. I may consider trying for another 0% card once that Halifax card is totally gone. Also consdering shutting down a old current account I have with barclays which has a £200 overdraft- just so it shows less 'available' credit on the old credit score thingy.

Primula

I think Tesco still have zero percent for balance transfers on their credit card.

Think very carefully before you go for a consolidation loan though, you might regret it.
xx

mooomin

Primula wrote: »

I think Tesco still have zero percent for balance transfers on their credit card.

Think very carefully before you go for a consolidation loan though, you might regret it.
xx

^ ^ ^

What Primula said.

I have consolidated debts three or four times instead of dealing with them, never a good idea. You have to address the root causes etc.

It's like being an addict, but it's spending not booze.