Barclaycard help please

D&DD

Hubby has a bcard with just over £1k outstanding..The rate is a hideous 17.9 % .Would it be best to ask barclay for a better rate card (can we even do this?) or look for a better rate elsewhere.Not sure if we would get another card anywhere due to outstanding debts even though we are paying extra on everything each month.Any advice much appreciated :grinheart

Bokken_2

yes ask them.
You could well get a reduced rate.
If not have a good look at Martins articles on credit cards and apply for another.
The only other option would be to overpay on the BC as much as you can to reduce the outstanding £1000.
are you able to transfer the money to another card at alower rate?
is that any help

D&DD

Thanks Bokken new to all this shuffling malarky Will ring them and ask.He got a 0% egg card this month to transfer a small cc debt onto (see sig)so if they say no would it be best to pay off the egg debt next even tho its at 0% so we can transfer the bcard balance to it..am I even making sense LOL..

IKON

Having a few credit cards myself, I always find that company's are unlikly to reduce the interest charged on a debt,as they already have it.Just last month i had come to end of a 0% offer with barclaycard,rang them but they would offer nothing further.I transfered the debt to another card,left it for two weeks then rang barclays back up.They offered me 0% for 3mths or 5.9% life of balance.Took the life of balance. One word of warning try to make the amount you transfer back to them slightly different.So say transfer out £1000 but 3 wks later transfer back to them £1020 works for me every time.Hope this may of been some help

Bokken_2

D&DD wrote:

would it be best to pay off the egg debt next even tho its at 0% so we can transfer the bcard balance to it..am I even making sense LOL..

No not really,
The ideal is to pay off the card with the highest interest first,and to get all of your debt onto 0% including your loans and mortgage there is no end to the fun that can be had.
Of course the problem is shuffling them about within the allotted time before the 0% periods run out.
Egg may be at 0% now but what will the interest rate be at the end of the 0% period?This new rate may well be lower that the interest on one of your other cards if so leave it alone and concentrate paying off the higher debt or move it to 0% cards.
good luck

D&DD

Ah right I get it now thanks! Yes the egg rate after 9 months is still cheaper than barclays so will continue to throw everything we've got at barclays for now thanks again I'm learning albeit slowly! :beer:

mountainofdebt

Why not follow the advice in Martin's article on the barclaycard loop hole??

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1086990624,93482,


Don't use your egg card though to do this !!!!