Need a little advice

Tinker_belle_2

We have 4 little debts and I am not sure what ones to pay off first.

They are:
£360 - MINT interst free till June- Paying minimum amount max limit £400
£400- Black Horse Finance int free till Jul- Paying fixed amount of £74.50
£800 - Catalogue don't start paying till June then int free for 40 weeks.
£1300- Natwest CC - Norm int rate- Paying £100 a month.

We then have a flaxible loan that is a huge amount. We want to clear these little debts so that We can chuck all the extra money at the flexi loan.

We are able to pay all these debts I just don't know which one to concentrate on first. We find it hard to get accepted for int free CC because of the huge loan, would it perhaps be best to contact Natwest and get a life of the balance deal and transfer the two CC into one

Thanks in advance for the help

bank_of_slate

Hi tinker,

Always pay the highest APR first because that's the one that costs the most to pay off in the long run.

Check out the snowball calculator at https://www.whatsthecost.com
...Linda xx

Xbigman

Pay off the highest interest rate as already mentioned. This will be the Natwest CC at the mo. When the 0% periods run out then those cards might become the highest and you switch to them. Is the catalogue 0% now and then 0% for another 40 weeks? If it is then don't pay that off until that time but reduce the flexi loan a bit whilst the 0% lasts.

I have assumed you have a good free income to work on clearing all this. If I'm wrong and you are clearing these slowly (say less than £100 month) then my advice might be different as all the 0% deals will end before you can make enough payments to have an impact, so just pay the highest final APR first.
Regards



X

Tinker_belle_2

For some reason my post posted twice.

Thanks for all the help