feel like im banging my head against a wall

mrsormrod

I have a lloyds tsb cc. It has a limit of £3,600 and a balance of 2,300
I pay 100 a month in repayments which is twice as much as the minimum due each month, and try not to use it. infact haven't for a few months as trying to pay it off.
My problem is that the intrest rate is increasing soon and its already costing me £35 in intrest a month as iot is.
I am trying to get a new card with 0% balance transfer so that i can pay more off instead of it being eaten by interst. but no company seems to want to touch me. I have checked my credit rating today and it is Fair. No missed payments, but it is saying That the amount of credit i currently have may be putting companies off (cc and 6k loan)
What else can i do?

Tixy

You could reject the interest rate increase (assuming is an increase in the standard APR not the end of a promo rate) -
Reject credit card rate hikes


Is the current interest about 19%?
If you stop all further use of it and continue to pay off £100 every month the debt will be clear in about 28months

mrsormrod

yes its an increase in the standard
Thanks

Fruit_and_Nut_Case

Tixy wrote: »

You could reject the interest rate increase (assuming is an increase in the standard APR not the end of a promo rate) -
Reject credit card rate hikes

Lloyds TSB should have explained this when they informed you of the increase. If they didn't I think you have grounds for complaint.

apples24

they just done this to my wife, think theres about 1000 outstanding on hers, letter a month ago saying they are putting it up to 24% !!! needless to say that card isnt going to be used again