Is it worth asking tesco cc for help

glittermonster

I am almost upto my limit and have never missed a payment.

Am hoping to start seriously clearing some in the new year but sods law kicks in any my oh is off work sick.

I owe about £3,400 - credit limit of £3,600
min payment is c. £67 and interest is around £55

my question is it worth calling them and speaking to them about maybe cutting down the interest?!

I'm April - when my Santander 0% card ends I'm hoping to move both balances to a new one. But want to wait til then.

wonderpupp

I have found RBS (who manage Tesco Credit card) more than helpful on the phone, i.e. when my card was cloned earlier this year and I had suspicious transactions on it.

I would say if you have more than one credit card already unpaid, then Tesco CC wont help you out by increasing your limit.
For £3600, plus whatever is on your other card, I'd get a loan to pay that off, get rid of the cards, and you stand a much better chance of clearing that debt.
So if you need £5100 to clear both cards, but you spend average of £300 per month on your food, bills, etc, get a loan for £5500 so you have a float to spend, so you dont need to use your cards.


What on earth can be on your credit card that has racked up £3400 of debt?

To me, that's like a whole another motorbike. Ridiculous.
Stop swishing your money about on 0% credit cards, they are dangerous, and you wont clear them in time!

glittermonster

I don't want to get a loan - but thank you for the suggestion.

We'll have to manage on the cash I have - just wondering if anyone had any experience of negotiating with them at all.

BugsyBrowne

glittermonster wrote: »

I don't want to get a loan - but thank you for the suggestion.

We'll have to manage on the cash I have - just wondering if anyone had any experience of negotiating with them at all.

No don't apply for a loan that that will not improve anything, you are using a high % of your credit limit at the moment, i am thinking maybe a new application for credit card with 10-15 months 0%.
What's your limit and balance's on your cards?

BadgerFace_2

wonderpupp wrote: »

I'd get a loan to pay that off, get rid of the cards, and you stand a much better chance of clearing that debt.
So if you need £5100 to clear both cards, but you spend average of £300 per month on your food, bills, etc, get a loan for £5500 so you have a float to spend, so you dont need to use your cards.

Stop swishing your money about on 0% credit cards, they are dangerous, and you wont clear them in time!

That's BAD BAD advice, don't follow that! How can you advise her to not get a 0% interest card, but instead get an interest bearing loan...

They probably won't offer any help with the interest rate until you start missing payments, again not a good idea.

glittermonster

star-fire wrote: »

What's your limit and balance's on your cards?

tesco is £3,300 ish limit is £3,600
Santander is £2,200 ish limit is £2,600 interest free til April - card is chopped up

i have told myself I'll apply for a 0% card but not til march/April when my other one runs out and put as much as I can onto it.

I don't want to apply before then - am trying to clear as much as possible before then and also my other dents will have had a few more payments too.