Cannot pay back credit card... ?

CLAPTON

simon85 wrote: »

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?

if I understand you properly, you used to be 1300 overdrawn and have a CC of almost 2900.

you have now cleared the OD and are back in the black.. well done
just continue as you are and reduce the CC balance in the same way until it is clear

then start to build up asome savings and only use the CC for things you buy anyway and can pay in full each month.

mgarl10024

I'd compare the rates.

(Made up easy figures)
e.g.
if the credit card is charging 30% a year (I can't find where the OP said 0%)
your overdraft is only costing 10%
and you are getting interest of a measily 2% on your current account
Then attack the highest things first.

Use the money in your current account to significantly slash down your credit card, even if that pushes you into your overdraft. You may be paying 10% on the overdraft, but you'll be saving 30% on the credit card.

Obvously, don't cut things too fine. You don't want to exceed your overdraft because your MoT was due.

HTH,