The "Pay ALL your debt off by Xmas 2012" challenge

floridafairy

Just made another dent in the credit card :beer:

#112 £873/11241

cannot wait to get below the 10k mark, Theres no stopping me now!!! LOL xxx

idristhedragon

I have another really thick question. At the end of my Vanquis statement it says purchase interest and cash interest and some %'s but they are REALLY low- surely that cant be the APR on that card as I *thought* it was really high?? HOnestly Im so dense I shouldnt be allowed out on my own let alone have 4 kids, 2 credit cards and about 9 thousand bank accounts LOL

jakes-mum

idristhedragon wrote: »

I have another really thick question. At the end of my Vanquis statement it says purchase interest and cash interest and some %'s but they are REALLY low- surely that cant be the APR on that card as I *thought* it was really high?? HOnestly Im so dense I shouldnt be allowed out on my own let alone have 4 kids, 2 credit cards and about 9 thousand bank accounts LOL

Its not your monthly APR rather than your yearly APR is it? thats the only thing I can think of unless you negotiated a good interest rate in a sleep walking phone call :eek:

idristhedragon

Not sure jakes-mum it says (shuffles into backroom to grab letter)
Your interest rates
description
Your cash rate 3.990%
PURCHASE INTEREST 3.433%

above the figures it says monthly rate and expiry date N/A after each figure

It also says my estimated interest for the next statement is £10.21. The balance is £217.56

jakes-mum

Did you think the interest rate was around 40% APR? if so thats the rate you pay each month on the balance on the card as far as can see. . .

EDIT: Bit confused by the £10.21 on a £217.56 balance as from those interest rates it would be a £297 odd balance :S so now im not so sure im right :rotfl:

idristhedragon

Thank you. I now owe £152 on that card and will pay that off in Jan so that will be one card down, one to go!! Yee hah. cant wait. Thanks for your help Jakes-Mum- grately apprciated x

camuk81

jakes-mum wrote: »

Did you think the interest rate was around 40% APR? if so thats the rate you pay each month on the balance on the card as far as can see. . .

EDIT: Bit confused by the £10.21 on a £217.56 balance as from those interest rates it would be a £297 odd balance :S so now im not so sure im right :rotfl:

It might be, mine is 39.9%, hence it's top or priority to clear

salkunh

DorsetGirl wrote: »

I am getting really nervous that the present that Dd really wants from Father Christmas hasnt arrived yet. I am hoping the courier will be here tomorrow because my tummy is doing flips thinking about it

Whenever Father Christmas couldn't get things I wanted as a child, it was because he was leaving them for the birthday fairy....good job I have a January birthday otherwise there might have been trouble :rotfl:

If it doesn't arrive, just print / write a letter saying an elf forgot to put it on his sleigh, but as soon as the reindeer have had a rest he'll be back to drop it off. I bet with all the excitement of Christmas day she won't notice...just don't get upset about it as there's nothing you can do

One year my friends little lad sent different lists to Father Christmas and didn't put the same things on each list...his Mum found out 10am Christmas morning that he wanted a garage that he'd never mentioned before :rotfl:

idristhedragon

£10.21was estimated for next month, minimum payment was £12.56 so I guess that interest is worked out on the balance minus the 12.56. however i could just ring and ask them lol

Fiddlestick

How do I join this?

Do I just post my total debt?