Credit cards help needed plz x

bangers504

hiya all really need some help feel as if it never ending and banging our head against brick wall

my partner has a credit card which we are thry to pay off, it at it limit of over £5000 we currently pay as much as we can each much and are now paying off £300 a month, but most of what we pay goes on the interest!! any ideas how to get interest down or any other help please xxx

Tixy

Hi

What is the APR on the card? What is the minimum payment?

Depending on your financial situations and credit files are either of you able to obtain a 0% balance transfer card from another lender to transfer the debt across or some of the debt across?

If not then all you can do is keep paying off as much as you can afford each month to minimise the interest you pay.

cse

Even at 30% APR, £300 a month will be making pretty serious inroads into the debt - about £110 will be repaying interest and the rest should come off the capital.

Applying for a 0% balance transfer card could save you some interest, but even if you're not accepted the important thing is to keep up that level of payment

Gromitt

As long as you've not defaulted you should be able to get a decent BT offer, pay about 2.9% for the transfer and then no more interest for 15 - 20 months.

If you think you could be struggling then you need to do it sooner rather than later.

James26

Virgin and barclaycard provide the best 0% on the Market 22 months you will pay 3% fee should be great for you. Providing you have a great credit history £300 will make serious inroads to the debts. Good luck