Confused..what do I do next..

D&DD

Right have done the best I can now on saving money,reducing outgoings etc and have managed to chop quite a chunk off my debts so its now just a case of snowballing them correctly..I think! Whats really bothering me though is the morganstanley apr is 26% :eek: and barclaycard is 19.6% (is there a fainting icon on here somewhere ) so even though I am chucking more than the snowball amount at them they are not really going down much.I know I musn't do the consolidation thing again but surely if I got a low rate loan on the mstanly one it would be better wouldn't it???Or if not can someone explain why not thanks muchly the brain is fried today

fairylights_2

Just a thought - if you're clearing your cards down, can you get a nicer APR card to offer you a good rate on balance transferring across? Barclaycard do a low one, I think ...

Might be better than another loan? Ignore me if I'm wrong!

EDIT - How about either of these instead of fainting? _pale_ :wall:

D&DD

Thanks fairylights tried asking both for a better rate after it was suggested on here but they both said no unfortunately :wall:

moozie_2

Hey D&DD

You are doing so well! That OD is nearly gone :j

I don't know much about these things (yet!) but I would tend to agree with fairylights. A 0/low APR card may be better than a loan.

Good luck with making the right decision and keep up the good work :T :T :T

D&DD

Hi Moozie hows it going?? Yeah can't believe in one more week I'll have no overdraft...we've been married 18 years this year and NEVER not had one..I plan never to have one again either but at least we will have that cushion rather than use a credit card for emergencies..mind you that might be hard as our cards are all making a rather fetching pieced mosaic in the bottom of my bedside drawer :rotfl:
I applied for a 0% lloyds card today to transfer the balance of the mstanley to but not holding out much hope..we haven't got any defaults as we are fortunate to be in the position now to chuck more than the minimum at everything but I think as we have so much credit already it will go against us,we can only wait and see..don't think its a good sign when they say they'll write.. :rolleyes:

little_miss_broke_2

D&DD wrote:

Thanks fairylights tried asking both for a better rate after it was suggested on here but they both said no unfortunately :wall:

Hi D&DD :wave:

Do you mean you asked morganstanley & barclaycard to lower their rates? And they refused?

How about, like has been suggested, applying for an 0% interest credit card? There's lots of places doing them now (look on the credit card forum for more information). You could transfer the balances over to that and save a packet. I've just applied for a post office 0% card, just waiting to hear if i've been accepted <fingers crossed>

Good luck

little_miss_broke_2

Sorry, think our posts crossed. I see you've applied for a lloyds card. Keeping my fingers crossed for you that you get it.

Best of luck

fairylights_2

Sorry - it would appear my use of English has been skewed by my cold!

What I meant was try asking your current card providers if they will offer you a good rate on balance transfers and moving balances across, not getting new cards or dropping rates on balances already where they are.

Does that make more sense?

southernscouser

Hey DD&D!

What other cards do you have? Do you have any available credit on them (presuming you have some) with a lower APR that you could transfer them too?

D&DD

Ah right got you now fairylights thanks its just me being dumb!! Barclays has £180 available on it and mstanley has £600..is that what they call the credit card shuffle thingy??

D&DD

Evening SS,no 'unfortunately' these are all we have the egg is the 0% one but its only got a 750 limit on it..would it be worth asking for this to be upped?We have only had it since xmas (used it to bt my capital one card debt but have cancelled the capitalone already)