credit card

Keith_Foskett

I owe my credit card £4000, is there anyway of stopping the interest. As I am only paying minimum payment each time.

CLAPTON

get a new CC with a 0% BT offer or a low LoB

exel1966

Ring them and ask them ?

Though unless you've displayed difficulties, by missing payments, paying late, underpaying they may not accept your request.

Of course any arrangements you make with them can be added to your credit reports which could cause you problems in the future.

bbsr_2

Will a new credit card application accept a £4k balance transfer though? It would mean setting the limit straight to at least £4k.

I have just applied for a credit card and during the application requested a £2k balance transfer, and I'm not expecting this to all be covered in the one credit card. Great if it does though!

exel1966

Only the credit card companies can answer those questions, though it will all depend on what kind of credit history you already have, what other debts you have, your income level etc.
£4K certainley isn't a high amount to be BT'd, just bear in mind that whatever limit you do get some companies can restrict the BT amount to bewteen 50-100% of the available limit.

bengal-stripe

Keith_Foskett wrote: »

I owe my credit card £4000.…I am only paying minimum payment each time.

CLAPTON wrote: »

get a new CC with a 0% BT offer or a low LoB

The OP is not very likely to get one of those in his current position. They are becoming as rare as hen’s teeth.

Play the lottery, might have been an equally good piece of advice.

thriftymomma

You could write and ask them. Or even give them a call and ask if they will look at your current APR. It's worth a try as if you don't ask, you don't get! Good luck.

CLAPTON

bengal-stripe wrote: »

The OP is not very likely to get one of those in his current position. They are becoming as rare as hen’s teeth.

Play the lottery, might have been an equally good piece of advice.

Well, your occam razor's like logic defeats me... no such conclusion follow from the OPs posting without a lot of unsupported assumptions.