credit card interest

Sim1_3

Hi I was wondering if anyone could help me?I have a natwest credit card from my uni days and although I never exceeded the limit I haven't been able to make minimum payments as I no longer have the card. I placed the wrong pin number in a cash machine and I never ordered a replacement. I also moved and although I've tried a number of times they are still sending my statments to my old address. As a result I have not paid anything for about a year(which I know is silly of me). Will this affect me being able to do a balance transfer as I'm the amount outstanding is way above the limit of the card? Thank you to anyone who can offer advice.I'm really worrying about this.

tom188

Welcome to the site. Unfortunately the prognosis does not appear too bright.

My understanding of your situation:
If your over the credit limit, and haven't made any payments to the card in over a year im afraid its highly unlikely you will be able to get a new card because of the damage done to your credit record by this lapse. You must make it your top priority to contact natwest and get your details amended, so that you can see how much you owe and work out to repay. Hopefully they will not have gone too far down the CCJ/debt collector route thus far.

I sincerely doubt you will be able to transfer to a 0% card with this payment history, so your top priority must be to get the card under the credit limit as soon as possible. Make as high a payment as possible to month to minimise the interest charged next time and clear the card as soon as possible. In any case make sure you make the minimum payment each month.

Maybe in a years time this will hopefully have done some good to your credit record and you may be able to balance transfer to a better rate. This will depend on how far natwest have gone thus far to reclaim the money.

I haven't been able to make minimum payments as I no longer have the card.

You dont need the card to make the payments, hopefully natwest should be able to locate you by your old address without this.

Phoenix79_2

Sim1 wrote:

As a result I have not paid anything for about a year(which I know is silly of me). Will this affect me being able to do a balance transfer as I'm the amount outstanding is way above the limit of the card? Thank you to anyone who can offer advice.I'm really worrying about this.

More than silly! Bang goes your ability to get credit for the forseeable future.

Natwest have more than likely passed this on to debt collecters now. I'd contact Natwest in the first instance to see what they say. How much do you think you owe on it?

Sim1_3

Thank you for your replies. They were both appreciated. It has gone to the debt collectors but the card was cancelled ages ago so I only owe just over £400. Once I have paid it off Natwest said they will help to get my credit rating back up.
Thank you again.

Phoenix79_2

Glad to see you decided to sort it out. Well done