My Situation

nickspurs

Apart from the £Thousands I owe my parents...

My Credit card debit is currently:

Egg (16.7% or so)- £2,446.17
Barclays (0% until December 2010) - £4733.16

Total - £7179.33

I have an MBNA card with a 0% Interest deal waiting for me but I want to save that for my largest debt so will obviously wait until Debember and then transfer my Barclays balance onto it.

So... I need to find a 0% card to shift my Egg balance onto. Up until fairly recently I had my debt spread over about 5 cards and have whittled them down to 2 which I am very pleased about. But that means I've had a few different credit cards open recently and may struggle to get a new deal?

I recently had Nationwide and Natwest cards with debt on them. I think these accounts may still be open, should I close them? I am currently in Australia so I'm not 100% on things like if the accounts are still open so that's why I said 'I think'. It's so very difficult trying to manage everything from the other side of the world!

Anyway, onto the matter at hand...

• Would I get rejected for an RBS credit card because Natwest is it's sister bank and I have a card with them?
• Is it worth trying for a Virgin credit card again even if I got rejected last time?
• Is the Post Office credit card worth a look at? I haven't seen anything about it on here but I just looked and they are doing a 0% for 12 months deal? (even though I had MASSIVE problems with them when dealing with their car insurance side of things, stealing my money then taking about a year to refund me....)

Any answers to any of the above would be awesome!!

I hope everyone is having a nice (and stress free) day

Nick

BAILEYS6904

You'll not be thankful to my answer, but maybes you should be concentrating on getting out of debt, rather than looking for more ways to get in it???

I appreciate you are looking for the most beneficial way to owe money, I know you say you had the debt spread over 5 cards rather than to, that implies you moved debt rather than paid it?

This part of the forum is for debt-free wannabes, ie trying to get rid of it. You might get a better answer on the credit card section. However if you want help on trying to pay stuff off, then a SOA (link on most of the threads) will help people advise

Sorry fella!

Marisco

I agree with Bailey, it might be better to find ways of paying off what you owe, before looking for more cards! If your parents are anything like me, then that debt would have been written off;) The debt you have just now might be manageable, but if you start adding cards, it could get out of hand.

DarkConvict

Usually if they are part of the same bank you will be rejected.

CC Forums - http://forums.moneysavingexpert.com/forumdisplay.php?f=11
CC Guides - http://www.moneysavingexpert.com/cards/

You have to remember 0% deals are harder to come by now, and many people in the last 12 months have ended up here, unable to get 0% credit and hit by a big bill they can't afford to pay.
Balance for life cards maybe more suitable for you if you have run out of 0% options.

If you post up an SOA, we can suggest how to tackle the CC debt - http://www.makesenseofcards.com/soacalc.html

nickspurs

I don't think the first two replyers read what I wrote properly. I clearly said I was just looking for another 0% deal to shift my Egg balance too because I am being charged interest on that. The outcome being, I would still only have 2 cards, no more.

I am clearly not looking to getting into more debt, I am trying to get out of it and I think the best way at the moment is to find another 0% interest deal. Especially if there is a 12 month deal out there that I could get accepted for.

Thanks DarkConvict, I will check those links later tonight. What is an SOA? I'm guessing state of affairs but could be completely wrong, haha!

Anyone had any experience with the Post Office Credit Card?

Thanks again

nickspurs

I forgot to add that to get from 5 cards down to 2, it was a mixture of paying chunks off AND transferring balances. I have been paying my minimum payments on whichever cards I have had at the time, and try and pay off a chunk of money whenever I can. I think I paid off about £2000 in the last 12 months.

nickspurs

Anybody else?

TomMK

I think you'll get some better replies in the credit card forum mate. As one of the above says, this Debt Free Wannabe section is more focused on reducing debt rather than "managing" it via the best ccard deals.

Good luck.

nickspurs

I am trying to manage it by reducing it. Or reduce it by managing it well. Whichever way you look at it. By getting another 0% deal, it will help me pay off more as I am not paying interest.

Anyone got any ideas?

nickspurs

545 views, no one's used a Post Office Credit Card?

Fribourg

nickspurs wrote: »

545 views, no one's used a Post Office Credit Card?

To get answers on that question, you should go to the CC forums