SOA what do people think?

binaryuniverse

How do you mean? If I paid off the overdraft completely? That would give me an extra £30 to throw on the credit cards each month.

RAS

So the fact that you are over the limit costs you nothing extra?

binaryuniverse

I'm not over the limit. I had a £1000 limit (that I have just upped to £1150). If I were to go over the limit it'd cost me £2 per day rather than £1.

RAS

Hi

Even at £30 per month, it is still your most expensive debt - over 36% APR.

binaryuniverse

Yup. And thats what I'm concentrating on first whilst meeting the minimum payments on my credit cards. It's not very easy tho thanks to have very little extra income once the bills and things are out.

RAS

I assume Barclays and Citibank as LOB balance transfers? What about More?

binaryuniverse

Yeah the first 2 are LOB and I'm happy with the rates on those and to keep paying off. The More card was a 3.9% offer for 6 months when I tried to close the card so I used it to pay off the HSBC which was 17.9%. That ends in February and I seem to have nowhere to go with that. I've just checked my latest statement and its 18.9% when that goes up. Wish I could find one more LOB card to move that to. HSBC won't let me use their 0% for 6 months offer, even tho M&S let me pay off HSBC.

I also tried Barclays to see if they'd raise my limit so I could transfer over the rest to the 6.9% LOB off but no dice.

RAS

OK, so you cannot move the debt arround anymore.

What do you have that you can sell on amazon, e-bay or at a car boot after New Year?

Any chance of checking out the local shops and supermarkets for work over Christmas and New Year.

Also check out the clicks, surveys and mysteryshopping ideas on here for the odd extra £20-30 per month.

binaryuniverse

Not sure I have much left to sell of any real value. I was forced into selling a shedload of stuff after me and the missus didn't work out so I had to find a new place. I will try looking for a new job closer to home and that pays a little better to try and sort out my money troubles much quicker. If I can't shift the M&S debt elsewhere than that will be the one I'll be concentrating on. I'll get there in the end. Might take a while but it'll definitely happen.

binaryuniverse

Just applied for a Silver Mastercard (Sygma bank) and been accepted. Not sure how I managed that but it should help shift some of the burden off that M&S card. :beer: