Help with snowballing

Youdontseeme

Hi I have tried to do this on makesenseofcards but I just cant seem to get my head around it.

I have a A&L card @ 34.9% (:eek:)

The balance is £1618.34 and my minimum payment is £45.16

I am currently paying around £135 a month off it, but I cant work out how long it will take me to pay off at this rate, its giving me a headache!

Any help would be much appreciated!

Thanks
YDSM

La_escocesa

Hi,

15 months paying £333 in interest.

You put the amount you pay each month to service debts at the top - £135

The balance, standard APR and min payment per debt in the box.

HTH.

daviesalie_2

You could try this one too.

http://www.whatsthecost.com/snowball.aspx

Youdontseeme

Thank you both, going to try and up it a bit to see if I can pay it off within 12 months (perhaps wishful thinking )

That 2nd website makes it much easier to understand!

Cheers!
YDSM

Mrs_Jojo

Any way at all you could switch to a cheaper card? That APR is hideous!

Youdontseeme

It is isn't it, unfortunately I cant seem to get another (don't think I really want one to be honest!) and they basically laughed when I asked them to reduce it, hence wanting to get it paid off ASAP don't want to give the b8&&ers any more of my cash than I have to.

YDSM

MatyMoo

Youdontseeme wrote: »

It is isn't it, unfortunately I cant seem to get another (don't think I really want one to be honest!) and they basically laughed when I asked them to reduce it, hence wanting to get it paid off ASAP don't want to give the b8&&ers any more of my cash than I have to.

YDSM

I'm not an expert but if you have stopped spending on the card when they put the interest rate up I think you can refuse it. They then have to keep it at the same rate.

Might be worth a try.

Youdontseeme

MatyMoo wrote: »

I'm not an expert but if you have stopped spending on the card when they put the interest rate up I think you can refuse it. They then have to keep it at the same rate.

Might be worth a try.

Really? I have to be honest, I was behind for a while and stopped opening the letters so not really sure when it went up but I still have all the docs here, even though the card is in credit I am not allowed to use it so not sure if the same thing applies or not?

I just want rid of it, I thought when I cleared nearly half of it in one go they would give me a break, but no such luck, right irritating twerp on the phone wouldn't budge an inch,basically if I didn't like it pay the balance off.

I wonder of its worth trying again to see if I may get someone more helpful but after a few convos with these peeps over the past year I aint holding my breath!

YDSM