Barclaycard...its evil!

Bellebo

Sat here trying to laugh about our debt but not suceeding.

We have a huge O/D (£3650) and about £5000 left on the credit card.

We have been throwing everything at the card to get it paid off (APR 19.9) but a few lovely peeps on here have suggested clearing the O/D (APR 15.9) first.

Can do that but that still leaves a huge 19.9% on the card. Have tried to credit transfer but been refused .

Feel like we are sinking under the weight of interest.

Has anyone got any suggestions....would be greatly appreciated.x

Tixy

Ah on the other thread you didn't mention the respective APRs. Not sure I would therefore agree with repaying the overdraft first. How much can you reduce the debts by each month (approx)?

Eg (using the snowball calculator) if you can repay £200 per month and you pay the card first you would pay interest total interest of £4583, however if you paid the overdraft first you pay £5165 (an extra £582 in interest) - http://www.whatsthecost.com/snowball.aspx

Who did you apply to for a new card? Did they tell you on what basis you were turned down?
Have you tried applying to your own bank? Do they do either a 0% card of low life of balance card? -check here - http://www.stoozing.com/0fees.php

Have you got copies of your credit reports? Do you have any old accounts showing on your credit reports that are not closed? (so still show as avaiable credit?) Do you have any defaults/late payment charges? What % of your total available credit are you using currently?

Bellebo

Tixy thanks so much for letting me know about the 'snowball' site.

It was quite shocking to see how much in interest we have been paying in actual black and white.x