advice needed on next step

weecarol_2

I have 2 cards at the moment and want to get the balances cleared asap.

HSBC 21.9% bal £9645 Limit £9900
RBOS 17.472% Bal £9980 Limit £10000

I am able to make the minimum payments (just about) currently £299 & £225 but obviously the interest is too high.

I have been accepted for Sainsburys Flat Rate 5.94% BT for life but only limit of £1600

Applied for Halifax 5.94% BT card but rejected

Applied for Morgan Stanley 5.94% card - awaiting decision

question is what to do next - transfer £1600 from RBOS and top up to £1600 before 6mth deadline?

Any suggestions?

nrsql

I would have thought transfer from the HSBC cc as that has the highest rate.
Pay the extra you will have each moth off hsbc. Keep paying min on the other two cards until hsbc is paid off.

Check the min payment on new card before doing this.

YorkshireBoy

...and since you've made 3 recent credit applications, don't be tempted to make any more for at least 2 or 3 months. Otherwise, you'll really trash your credit rating.

Also, you might want to pop over to the Debt-Free Wannabe board for some practical help and support.