Struggling to tart

anh1904

Haven't posted for a while, we were getting everything back in control until a partial loss of income, and have now found tarting balances much much harder.

Is it just me?

I have unusued cards with Capital One, Asda, M&S and Barclaycard and despite my efforts, have not managed to secure a single deal for a reduced interest rate with any.

This wouldn't be a problem, but come april about 17k will fall off 0%, something which I fear might be the final straw.

I have no arrears and indeed never have had, divorce got me into a heap of debt, and a subsequent "new family" meant servicing it was harder but we managed by regularly tarting.

Last maternity period and loss of part time income has sent the debt upwards, and like I say, come April, I am worried about the consequences of having to pay interest on 17k.

Has anyone any pointers or advice on tarting balances in the current economic climate?

beanielou

If you have any cards which are clear close them as this can help.
It is getting more & more difficult to get 0% deals.

Richard_Cocks

The term "credit crunch" isn't just a word misused by journalists to mean a recession, it also quite succinctly describes the fact it's very hard to find cheap credit right now as you've discovered.

Start preparing. As beanie says, get rid of any credit you're not using, double check your credit file and then work out what rate (if not 0%) you could cope with.

anh1904

Thanks for the replies - I have been offered a LOB, but even that has a 3% fee on top, so not overly attractive, but in fairness less than the alternative, so got to be done. Things are certainly not "looking up"!

Have never closed accounts down as generally been able to tart across existing cards, with this nice stream of offers seemingly closed, tend to agree that they may be best gotten rid of, though the probability of getting replacements is probably even lower, and there's always the chance a new deal might just appear on one of them? Or am I just getting deluded in my old age???

Bismarck

have you tried the 6.9% LOB with barclaycard, I did mine online and no problems, up to 90% of available credit....I'm afraid LOB's could be your only option for at least part of the debts.

rluc

Have had the same problems trying to move an MBNA CC debt which is just coming up to the end of its 0%. LLoyds and Barclaycard say they have no offers on at the moment even though I have got good LOB setups with them already. They did say a new set of offers comes up every month and to check again in february. Going to check with my EGG account now otherwise up to stupid APR with MBNA!!

anh1904

Barclaycard ... no offers for you at the moment ... MBNA ... no offers for you at the moment ... Capital One ... no offers for you at the moment ... uh oh!

nearlyrich

I will move this thread to the stoozing board as it would fit better there.....