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Best way to pay off an American credit card?
MrsWassire
Posts: 204 Forumite
in Credit cards
My other half is from America, and when we lived there we acquired some credit card debt. :mad:
We're working on being debt free in the UK first, and when we achieve that I want to work on the US debt. It's about $5k I think. For now we're just paying 150-200% of minimum payment so it's going down fairly slowly.
Just wondered if anyone has suggestions for the best way to pay it off when the time comes? As it stands, each time we transfer money to our American account (via Paypal, as it's easiest) we pay a fee, plus obviously the exchange rate varies so it's unpredictable.
I was considering getting a loan with our credit union. Part of the interest gets deposited into your savings account so you're topping up your savings while paying off the loan, and there's no early repayment fees etc. I feel the debt would be easier to pay off if it was British (but only after we've cleared our debt here, so we're not too overwhelmed).
Are there any other options - any British credit cards that will let me transfer a foreign balance, for example? :money:
We're working on being debt free in the UK first, and when we achieve that I want to work on the US debt. It's about $5k I think. For now we're just paying 150-200% of minimum payment so it's going down fairly slowly.
Just wondered if anyone has suggestions for the best way to pay it off when the time comes? As it stands, each time we transfer money to our American account (via Paypal, as it's easiest) we pay a fee, plus obviously the exchange rate varies so it's unpredictable.
I was considering getting a loan with our credit union. Part of the interest gets deposited into your savings account so you're topping up your savings while paying off the loan, and there's no early repayment fees etc. I feel the debt would be easier to pay off if it was British (but only after we've cleared our debt here, so we're not too overwhelmed).
Are there any other options - any British credit cards that will let me transfer a foreign balance, for example? :money:
*Insert interesting words here*
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