Cannot pay back credit card... ?

simon85

Basically I had two problems was into my current account over draft (£1500 limit) and i was pushing £1300 into it.... any managed to turn that around and now have abuot £1000-ish in my current so cleared that....

Next problem, I have £2990.00 to pay off on my Credit card and not sure how im going to to do it! what I dont want to do is use the money in my CA to then find im back where I started again in my overdraft!!

I have cut back on al things and paying for the bear essentials etc, I got my car tax / MOT insurance coming up so need funds for that...

I work and get about 1k a month..

anyone advice anything?

Suarez

What did you buy with the credit card?

simon85

Half of a holiday (on my CC) and a new computer..

somethingcorporate

Downgrade/sell the computer and never buy a holiday on credit again.

What are your outgoings against your £1k income a month?

camuk81

Have you tried posting a statement of affairs in the debt free wannabe board.

http://www.makesenseofcards.com/soacalc.html

Also try some of the hints and tips on cutting back

Bravehearted_2

I think Martin should write an article about not buying holidays on credit. Maybe then some people will heed.

No one is entitled to a fortnight away every year. Only go if you can afford it. No one should ever reason that they've worked super hard and so are entitled to a holiday. I think there was a guy here yesterday who wanted a 0% card for a £600 holiday for him and the girlfriend when he clearly couldn't afford it.

Not aimed at OP btw. OP sell stuff

Plxply

Bravehearted wrote: »

I think Martin should write an article about not buying holidays on credit. Maybe then some people will heed.

Don't forget the Section 75 protection which you won't get with anything else. Of course I agree however that you should save for a holiday instead of use a credit card, then you use the card to buy the holiday and pay it off with your savings

fozmcfc

Bravehearted wrote: »

I think Martin should write an article about not buying holidays on credit. Maybe then some people will heed.

No one is entitled to a fortnight away every year. Only go if you can afford it. No one should ever reason that they've worked super hard and so are entitled to a holiday. I think there was a guy here yesterday who wanted a 0% card for a £600 holiday for him and the girlfriend when he clearly couldn't afford it.

Not aimed at OP btw. OP sell stuff

I would use a 0% credit card to pay for a holiday everytime, because of the extra protection it gives you.

Why not, as long as you can pay for it during the 0% period, I see no problem with that.

I've funded 2 holidays over the past few years on 0% cards and paid everything off with no interest.

Also purchased a laptop and smartphone on a 0% credit card over the past few years, again with 0% interest.

In all cases I could afford to pay for them outright, but used the card, got the added protection and got plenty of cashback as well.

On a non 0% card, I would only consider it, if I could afford to pay for it over a maximum of 3 months and if the card had a zero or small balance before the holiday was put on it.

Gromitt

I only ever pay the deposit for a holiday with a credit card, the rest is paid using a debit card as most places seem to charge of a fee of about 3% for processing a CC!

But I have to agree on the other points, never use a CC unless you know you can easily pay it back.

Suarez

simon85 wrote: »

Half of a holiday (on my CC) and a new computer..

I can't understand how you spent £3k on a holiday and PC yet you knew you were only on 1k a month.

Did you not have a plan to pay the card off?

Venusflytrap

fozmcfc wrote: »

I would use a 0% credit card to pay for a holiday everytime, because of the extra protection it gives you.

Why not, as long as you can pay for it during the 0% period, I see no problem with that.

I've funded 2 holidays over the past few years on 0% cards and paid everything off with no interest.

Also purchased a laptop and smartphone on a 0% credit card over the past few years, again with 0% interest.

In all cases I could afford to pay for them outright, but used the card, got the added protection and got plenty of cashback as well.

On a non 0% card, I would only consider it, if I could afford to pay for it over a maximum of 3 months and if the card had a zero or small balance before the holiday was put on it.

I think that's what Bravehearted was saying in the first place: If you cannot afford to pay for a holiday outright (either with savings/salary) then do not have one purely on credit. He/she just said it in fewer sentences!