I have a virgon credit card and cannt go to another 0 perc credit card

sammierupert

I pay £35.00 intrest on a 1,600 on this card, i want to transfer to another card, but i cannt get another one! so im stuck paying 35.00 intrest! would help if i could lower it to get rid of it quicker any tips? thought of writeing to them would that help, saying i am going to transfer to another company that does the 0 per cent , and could they lower theirs so it would save me transfering and id stay with them? any help would be much appricated thanks

sheslookinhot

increase your monthly payments if you can.

izools

Why can't you get another 0% card?

I calculate Virgin are charging 29.9% APR based on your figures, did they send you a letter to say your APR was increasing?

Tixy

If you cannot get another 0% card then its likely MBNA will be able to guess that based on what they know about your finances, so I don't think threatening to leave will have any effect.

You could contact them and ask them to reduce interest but this sometimes has the opposite effect in that if they think you are stuck with them or struggling they may increase your APR.

You could ask them to reduce your payments or freeze interest if you cannot meet your current repayments but that will almost certainly affect your credit file (an arrangement to pay or a default) which will make getting any future credit even harder.

You really need to try to increase your repayments and pay off as quickly as possible to minimise the interest you pay. If you cannot do that you may want to post on the debt free wannabe board for some advice and suggestions on decreasing your other outgoings so you can pay more off this debt.