Gradute Account Ended

abigailmay

PLEASE HELP!!!! I have an account with Barclays Bank which up until this month was a gradute account, I actually haven't been using the account as I have an over draft that I have been trying to pay off a small amount each month. Now the account is changing to a current account I am going to be charged over £20 a month in interest. What should I do? Should I get a loan out to pay this off or can I get a 0% interest credit card to pay off the overdraft?
I need to do what ever is cheapest as I already have a loan & 2 credit cards!

techno_geek

When did you graduate?

abigailmay

june 2004!

dudleyboy

Hi abigailmay,

How much is the overdraft that you need to pay off? How much do you owe on your other loan and 2 credit cards?

Depending on the interest rate you'll be charged, I would recommend either transfering the balance to a 0%, or low LOB, interest CC. I also recommend you take a look at the Debt Free Wannabe board, post your income / expenditure (a SOA) and see if the guys over there can help you combat this debt.

equitydealer

I think A&L will match your overdraft if you open an account with them, and it's 0% for one year

System

could you not get either a RBS or TSB graduate account?

I think they have a 3 year period, over Barclays 2?

abigailmay

Whats a low LOB, interest CC??

jonesMUFCforever

Heng_Leng wrote:

could you not get either a RBS or TSB graduate account?

I think they have a 3 year period, over Barclays 2?

No as you would have had to graduate within the last 2 years and is out of time (graduated June 2004)

abigailmay

Ahh but I already have another account also with an overdraft! (Which is up to its limit)

jonesMUFCforever

abigailmay wrote:

Ahh but I already have another account also with an overdraft! (Which is up to its limit)

You really need to sit down and draw up a statement of affairs ie all income coming in versus outgoings ( you need to be honest with yourself here and account for every penny out of your accounts).
You seem to think it's ok to shuffle debt around with no actual plan as how to tackle debt and reduce it so that banks work for you rather than the other way round.
Go to the Debt wannabe board for a lot of helpful information.