Credit Card Help!!!!!!!!!!!!!

ShannonLowe

I applied for a credit card when i was 18 it was accepted and i did what any other silly 18 year old does and blew all the money and now i am in debt paying it back. I was on a minimum payment scheme for a year but that ended and now i am paying back the payments month by month but my credit rating is extremeley low because of this.

Me and my other half were talking and we didnt no if it would be possible or benefical for me to see if i can get another credit card transfer the balance of the new card onto my old one to pay it off and then pay the new credit card off with the correct payments.

Please help!!!!

[Deleted User]

Not with being on an arrangement.

Pay more - sell stuff, get another job, eat nothing but beans, sit with the lights out, whatever it takes.

ShannonLowe

Im not on an aragement anymore i am paying the full monthy bill but it doesnt seem to be moving anywer

[Deleted User]

What rate are you paying and how much do you owe? And what's your income?

parent_of_too_many

In your current situation, with an awful credit rating, you are highly unlikely to even be accepted for another credit card, especially one with an introductory 0% balance transfer offer. You will only get something along the lines of Vanquis Card, which you really, REALLY don't want!!

Would your other half be more successful in getting a 0% offer credit card? What's his financial history like?

Other than that, I'm afraid your stuck with your current card.

Sorry.

gjs6385

I'm sure there will be calculators whereby you can put in the terms of your card i.e. amount owed, interest rate, monthly repayments and it will tell you how long it will take you to pay off.

I would suggest initially to look at a balance transfer on to a 0% card and obviously you won't be able to spend on it either.

Lola888

My husband did something similar before we got together, I had a good credit history whereas his was rubbish. I opened a credit card and let him transfer his debt to me- very risky, but it wasn't huge and I couldn't let him keep paying the astronomical interest rates. He was paying as much as he could every month to clear the whole thing.

Also he couldn't get a mobile phone contract either so I have two contracts on my name.

Anyway long story short paid it off a year or so ago, he managed to get a Capitol One high interest credit card which he uses and pays off straight away, LloydsTSB have let him open a credit card with £500 which he does the same with uses and pays off straight away.

We bought our first home together in the summer and managed to get a mortgage together so it looks like his credit rating is getting better!

Also not sure if this is an option, but perhaps someone might lend you some money to drive down the debt?!?!

Anyway hope this helps and good luck

ShannonLowe

My other half has got his own credit card but has only had it recently and hes got billiant credit rating. My monthy payments can change some months its £40 last month is was £21.85. I no it wont make my credit rating better within x amount of time but i just want a way of getting back on track with it so i can get rid