debt paying

shamussy

hi all, new member so bear with me... basically I have 2 credit cards owing approx 4500. I have been making repayments and never missed one but think my credit rating has nosedived because interest payments regularly take me over the limit.

Anyway, I am determined to sort it out but have a question...

on one card, the balance owed is 2500 and i am paying it all at cash interest rate. This is despite them saying that my cash limit is 1200

can i do anything about this and can i transfer to another cc at 0% despite potential credit issues?

Tixy

I'd imagine its unlikely you'll get another card, especially not one that doe 0% balance transfers card given what you have posted - these cards are hard to get for anyone who doesn't have a near perfect credit history.

Obviously without knowing the detail of the account its impossible to say why its all at the cash APR - perhaps your cash limit has been imposed since you spent the money.

I would work hard to get both your cards back comfortably within their limits so that the interest & any fees don't keep taking you back over. Ideally no more than say 90% of your balance to allow for interest etc.

If you are struggling to pay more off your cards then it might be worth posting over on the debt free wannabe section to see if the posters there have ideas on how you can free up more money to put towards your debts each month.