Deliciosa’s DFW diary

deliciosa

ZTD wrote: »

Why don't you cancel the two worst-interest rate ones, and keep one in the freezer for emergencies, and use your Amex?

because access to credit is never bad. for example, if i clear my debt, i will be able to access £10,000 of credit - lets say i buy a flat and it needs renovation etc... ?

so there. I said I wont use them. why dont you trust me? I will shove them in a cupboard, just like i am doing with my m&S card now and use them once in three months for a five pound purchase to keep them alive. and then if, IF I ever need the credit, it's there.

I am determined to sort this out and i see this 0% card as an opportunity. I wont waste any more money on interest. I can do this! I will have all my debt in one place (MBNA card) and watch it, pay a minimum = a lil bit and watch my savings grow. Or pay it off gradually, even. I dont mind losing out on that little interest.

Just trust me that I can restrict myself! Honestly, I am more tempted to spend a fiver on the amex than to spend £2000 on hsbc.. I wont use them!!! promise, promise. If I do, feel free to bang my head into this post (vitrually, as have just recently recovered from broken nose )

deliciosa

ZTD wrote: »

Hate to be the bringer of bad news...but I think you'll find it's plastic...

:eek: nay... i dont believe you :rotfl::rotfl:

mouche

Hiya...how is your day going? Did the card arrive?

deliciosa

mouche wrote: »

Hiya...how is your day going? Did the card arrive?

not yet.. waiting...

where's everyone????

tomorrow I am off to gran can so won't come for a while.. will then report on my spending,,,,

dfw844

Hi! Great news on the 0% card. You've really got to stick to your plan though - I had a similar one... 3 years ago.

I spent on my Barclaycard for day-to-day purchases because I thought I was getting 30 days interest free (because I was paying the bill out of my overdraft). Then I had 0% cards with all my 'old debt' on. The problem was (and I can't believe I didn't see it at the time) I was spending more than I had each month on my Barclaycard. So every 6 months or so, I would move £500 either from my overdraft or my Barclaycard to a 0% card. There was a always a good excuse - car insurance / holiday / whatever.

But I didn't see that that little £500 I'd moved wiped out the previous 6 month's minimum payments. So though my debt never increased, I never got rid of it. Which is why, 4 years after graduating from uni, and having been thinking all this time I've been paying my cards off (because I've been paying the minimum), I've ended up on MSE!

The only way I have solved this problem is by leaving the Barclaycard at home, and spending ONLY on my debit card. Believe me, £900 bills just don't happen on a debit card (and yes, I used to get a 'shocker' like that every couple of months). Because when you are paying out of the bank account, you are constantly petrified of going overdrawn / over your limit.

So my point is this: you think you are saving money by collecting airmiles on your Amex. I thought I was saving money because I wasn't paying overdraft interest. The reality is that with the money you 'blow' on the Amex without realising it, you are more than cancelling out those free flights. If you lived on your debit card, you would be surprised how little you spend on luxuries that you knew all along you couldn't afford, but justified anyway. And that saving will cover your flights in no time.

Sorry if that sounds harsh - and it's only my experience. But I think in so many ways we are similar that if we can help each other out by sharing some wisdom we should! And I'm worried that you're putting money from the Amex on this new 0% card. Did I read this right? Because if so you are doing exactly what I did, everytime I got a new card, for the past 4 years. Just trying to pre-warn you (because I wish someone had told me!).


Oh, and I can't remember whether I told you earlier in the week - but I am thinking about getting a bike too! Yes, you've inspired me! Since I sold my car I've been getting the bus and I hate it. So crowded, and so slow. Do you find the traffic scary though? That is the one thing that is putting me off.
Anyway, have a lovely holiday! Hope you find everything you need at the shops. And great advice on the mini bottles, Snaggles, I've got a cupboard full!xx

deliciosa

Hi DFW 844!
Thank you so much for this. I got the card, transferred balances, once they go thru, I will update m,y diary with numbers. MBNA and HSBC and M&S cards sit in the drawer at home and I won't touch them. Amex and debit card with me.
I had to buy a flight (£300) to see my granma who is in hospital but that’s worth it. I haven't spent anything on holiday and it was still amazing! I have failed on the DVD front tho, bought one dvd - but hey its one dvd in a month, and before thast I was buying threes, fours a week…
I totally know what you mean about £900 bills. Amex and I have that kind of a relationship, I'm afraid… USED TO!
I am really paying off amex all the time. I never incur interest. Trust me. I know where you come from and I tend to spend on a debit card for small things like shopping and I see it going away and I am cautious.. But big spends go on amex for miles. And believe me I am getting free flights quite often, I got two this year and its amazing!
I am trying to life on my debit card and no, you are not harsh, I am very grateful for your comments as I have been battling with that for months… I won't put any more from amex to new card, I will pay it off with cash as I have been doing for months now. The new card is staying as it is now! I might even cut it up.
WOW well done for getting a bike- tell me more!!! Isn't it great just to ride everywhere??? The traffic is fine once you're used to it!
Ps: holiday freebies: b'fast at hotel - check
Free botttles of water, unlimited, athotel, even when we went out we took some - check
Free fruits by the pool all day long, vitamins - check
Free cab from/to airport - check
Free dinner last night, courtesy of canarian friend - check

Yay! More updates soon!

Snaggles

Hello! :wave:

I didn't realise you were going on holiday so soon! Glad you have had an amazing time. Sounds as though you are still on track with your debt repaying too. :T

Sorry about your Grandma, hope she has a speedy recovery.

deliciosa

Snaggles wrote: »

Hello! :wave:

I didn't realise you were going on holiday so soon! Glad you have had an amazing time. Sounds as though you are still on track with your debt repaying too. :T

Sorry about your Grandma, hope she has a speedy recovery.

Hi hi ohhh thanks, my granma is ok , it's just checkup and a minor operation which is not necessary, but will improve her condition considerably :j

Yes I only regret that I have been charged around £100 in balance transfer fees so that has been added to my debt. But considering that I have been paying £70 a month in interest, in two months' time I will be beter off already.

mouche

Welcome back! Am glad you had a good time. Congrats on that 0% card. I was worried you'd come back from holiday thinking you had overspent and that you'd go into one of your beating yourself up phases. I'm really happy you're so positive and upbeat. Good for you!

deliciosa

mouche wrote: »

Welcome back! Am glad you had a good time. Congrats on that 0% card. I was worried you'd come back from holiday thinking you had overspent and that you'd go into one of your beating yourself up phases. I'm really happy you're so positive and upbeat. Good for you!

Hello Well it would be hard to feel that I have overspent when I literally haven't spent a penny... :rotfl: :rotfl: ok a few euro cents, but I did really well :j

I just had an expense had to pay out $134 for US Embassy fees for visa - but its a must and I have budgeted for it. Still, what a rip off.

Whats up with you?