Catalogue Debt!!

shOppahOlic_2

Hi

Just asking for some advice..

I currently owe about £500 altogether on catalogue accounts. I'm paying monthly but due to the interest etc my balance doesn't seem to be going down!

I was looking into possibly having a small loan or credit card to pay it off, then pay off that, 0% interest if I can get one.

Is this a good way to go about it? Or does anyone have any advice what's best to do?

Thanks in advance.

camuk81

Shopaholic, catalogues are usually one of the highest apr. if you can move it to a lower apr that is an option.

As with consolidation loan, hate to quote again but 85% fail.

Are you overpaying each month on the catalogue. Some I've seen are 35% apr meaning most of the payment gets eaten up by intrest. My aqua card is like this. It has around £800 on it and I have a set payment of £45 minimum and last month intrest was £29.66 ouch.

shOppahOlic_2

Yes, that is what's currently going on. It works out after interest that I'm paying around £10.00 a month so it's taking ages!
I'm paying the minimum payment, which probably isn't helping.

immoral_angeluk

If you can get a 0% purchases card you could use that to pay off the catalogue. Just make sure you cancel the catalogue to prevent the temptation to use it again!

shOppahOlic_2

Whats the best way to go about the 0% purchase card.. Could you point me in the right direction!? I'm useless!
Def going to cancel it, I always think its great at the time then regret it a few months down the line! Damn catalogues!!

Thanks for the help!

immoral_angeluk

shOppahOlic wrote: »

Whats the best way to go about the 0% purchase card.. Could you point me in the right direction!? I'm useless!
Def going to cancel it, I always think its great at the time then regret it a few months down the line! Damn catalogues!!

Thanks for the help!

Have a look at the cards section on the main site, that'll have all the current deals on it.

camuk81

Try also using one that will do a soft search and won't leave a mark, this will tell you if you can get accepted. Capital one are still doing a 0% for all of those people (me in this bracket) with bad credit. Though be careful it shoots up to 30 something I think 39.9% apr afterwards

shOppahOlic_2

Will do!

Thanks again.