Credit card advice

Louise100

Hi, I have about £25K debt spread about 4 cards at high interest rates, I checked my scoring and overall I have 532, no defaults but 1 yellow against 1 card recently. I'm wondering if you would apply for any cards with 0% BT or low interest. Barclays seems to be good, lots of choice though. I'm worried about being offered a card with £1K credit or something which is not worth doing. Any advice or experience you can suggest? I've been paying promptly but not making much impact on my debt here.

[Deleted User]

What do you earn? To get a total credit line of £50k means you'd need to be earning a salary where you probably wouldn't be struggling to pay off the debt in the first place.

Cost cutting is likely to be the better route for you, over at the DFW board across the road.

Tixy

With that amount of outstanding debt you might well struggle to get new 0% cards, or new cards at all.
How much do you earn? as lenders will look at your total existing credit compared to your income to see if they think you can afford to take on the repayments for their product as well.

Louise100

Thanks for the replies, I earn a decent amount +50K but I am main breadwinner so all I seem to do is pay interest on debts.I've been cutting costs across the board at home but debt seems to be a big area I could do better. Cards with lower interest or 0% seem better but moneysupermarket is implying I have a low likelihood of getting these?

Tixy

Its probably because of the high amount of debt you already have - although I've never used that website's tools.
Maybe you can reduce the interest you pay by shuffling/stoozing debt around.

What are the balances, limits and APRs on all your cards? do you have an open empty cards that you've never cancelled in the past?

Wallhart

Can I ask how you got £25k worth of debt when you earn over 50K. It is good that you have been making savings to help and would suggest you go over to the other forum for advice.

However does your OH work? and if not could she to help pay off the debt. Or are these debts you racked up yourself?

Louise100

High cost of living in London, childcare etc very expensive. I am the lady of the house and main breadwinner, my DH is selfemployed with a new business and helping where he can. Both racked up over the years mainly through being in a position where I've been out of work a few times going into debt. Payments on high debt mean there isn't a lot left over. I prefer to work than claim, where possible.