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I put this in loans as well as I was unsure?

kiwimel123
Posts: 27 Forumite
in Credit cards
Hi ya,
Just wondered if anyone had any suggestions?
My fiance and I are getting married next year. we are desperate to start saving. Problem is that we have a £2300 debt owing on our Virgin credit card.
We have gone over the 0% interest time and was wondering what you would recommend?
We both live at home with his parents. I have a bit of a dodgy credit history - rememnants from a previous relationship but it dates back around 4 years ago. No CCj's or anything but 2 defaults of around £340 that have both since been settled.
I dont want my OH to take care of this because believe it or not - I am probably better at sorting money then he is. We are sensible but he just finds finances overwhelming when he tries to sort things out. I was thinking of applying for a loa - but we dont own a house and I would be embarrassed to ask someone to go as guarantor. Or maybe a credit card? I have been desperately trying to rebuild my credit score - I have a Capital One card with £180 owing, a Barclaycard with £70 owing and a Next Account with a sparkling £1000 credit allowance and nothing owed. I make sure I pay something every month in order to show I am worthy.
I am on the electoral role and have been for 18 months at my OH's parents house. I have a contract mobile phone that I never miss a payment for.
MY biggest fear is having search "footprints" all over my account. I dont want to pay it off all at once, I would rather do it over 12 months so that I can continue to put money aside for my wedding as well.
Reccomendations? Sorry if I waffled LOL
Just wondered if anyone had any suggestions?
My fiance and I are getting married next year. we are desperate to start saving. Problem is that we have a £2300 debt owing on our Virgin credit card.
We have gone over the 0% interest time and was wondering what you would recommend?
We both live at home with his parents. I have a bit of a dodgy credit history - rememnants from a previous relationship but it dates back around 4 years ago. No CCj's or anything but 2 defaults of around £340 that have both since been settled.
I dont want my OH to take care of this because believe it or not - I am probably better at sorting money then he is. We are sensible but he just finds finances overwhelming when he tries to sort things out. I was thinking of applying for a loa - but we dont own a house and I would be embarrassed to ask someone to go as guarantor. Or maybe a credit card? I have been desperately trying to rebuild my credit score - I have a Capital One card with £180 owing, a Barclaycard with £70 owing and a Next Account with a sparkling £1000 credit allowance and nothing owed. I make sure I pay something every month in order to show I am worthy.
I am on the electoral role and have been for 18 months at my OH's parents house. I have a contract mobile phone that I never miss a payment for.
MY biggest fear is having search "footprints" all over my account. I dont want to pay it off all at once, I would rather do it over 12 months so that I can continue to put money aside for my wedding as well.
Reccomendations? Sorry if I waffled LOL
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Comments
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kiwimel123 wrote: »We have gone over the 0% interest time and was wondering what you would recommend?
Start paying it back?
You ask about a loan, so if you are considering that then I'm assuming you have the disposable income to service the debt.
Is there any reason you can't use this disposable income in order to make monthly repayments on your credit card debt?0 -
Oh no - we always pay money on it! The thing is the 0% has run out and my OH has only been paying the minimum and I didnt realise! He never told e what the balance was until today and we have been paying 16% interest!
I was just trying to work out if we would be better to get a loan and pay that back at a lower interest rate or whether he should try applying for a new credit card with balace transfer?0 -
How old are your defaults?
If they are less than three years old, then you've got no chance whatsoever in getting a 0% card. If they are over three years old, you might be alright getting a 0% deal, as usual (same old culprit) I recommend the Creation card - they're doing 15 months 0% on balance transfers, but their credit scoring is quite lax.
They are giving out credit like sweets at the moment so if you stand a chance of approval it will be from them.
here's the offer:
http://www.your-application.co.uk/netfinancecertegymicrosite/creation/Welcome.aspx?
If they say no, there's no chance of you getting a better deal elsewhere, given these guys lax acceptance criteria. So if that's the case, just leave the balance where it is save wasting more credit search footprints.
Good luck, and let us know how you get onCashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48
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