transfer of credit card payment

snowqueen_3

I learned today about high APR from your site. I have a credit card with Barclays and owe £1400. APR 29.5% aaarg. I am on income support and want to reduce the amount of interest I pay. Dont know how to do this as I am on low income and find the forms baffling. can anyone help.

nmealey

you need to get a 0% credit card, then when it comes phone them up and do a balance transfer. make sure that the new card has 0% APR for Balance transfers. remember to write down when the end of the 0% is too.

Good luck

Neil

Reaper

Either move it to a short term 0% card or a long term low interest card. Have a read of Martin's article on Balance Transfers by clicking here.

That assumes you can get another card as you say you are on a low income. If your bank offer a card with a good deal that might be the best place to start as they are normally more willing to give a card to a customer they know about rather than a stranger.

I would be tempted to recommend a low interest card (although I don't know your circumstances). The best card is from Texaco and is just about to be stopped so get in there quick if you want it. It will charge you just 3.9% on the money you move to them, and that lasts until the card is paid off. The article I mentioned above will tell you about it.