Butti's Journey: A matter of loaf and death

Butti

skint_spice wrote: »

ooo - he knows your name so he must lurve you:p

Surely on this basis I should try to pull the bank manager?

skint_spice

I don't think mine would know my name so perhaps.... if it's an attractive, single bloke

Butti

So here we are back at my house in the north with this weekends list;

• paint middle bedroom
• paint bathroom
• clear wardrobe
• clear garage
• sort out wardrobe man
• sort out window de-misting man
• sort out tv aerial man
• sort out fence panel man

Then there is the small matter of paying the above.

The good news for this weekend is that there was no letter threatening suing when I got back here and no spray painting of the word b*tch on the garage door. There was however a letter from post office credit cards declining me for 0%.
The current highly unpalatable option is paying with my Virgin credit card which has a whopping 32% APR.

So I am thinking of talking to the bank about converting my £4.5k credit card to a £6k loan with no penalty for early repayment. Banks are known for being really flexible at the moment.

Butti

I would welcome views on this from my regulars:D

skint_spice

Would the post office declining you affect your credit rating? Would the bank go for it? Your manager knows your name so might be more flexible;) If you can over pay and the rate is low seems to make sense, assuming you won't run the cc up again which I don't think you will, do you?

beanielou

I agree with Skinty.
If it is your own bank I think they are more likely to be ok.
Do it quick before PO serarch is recorded on credit file.

Butti

Thanks for comments peeps ...and can I just say I did`t mean to offend any non-regulars (just didn't want any abuse from people who don't understand the situation I am in!)
So thanks for the advice...good as ever.
Todays jobs: Tip, paint bathroom, mask border, paint bedroom.
Tomorrow's jobs: Bank, clear out remaining section of wardrobe

Snagggles

The decline won't affect your credit file. Your file will show that a search was done in connection with an application, but it won't show that you were declined. Searches can affect your credit score, but only if there are several in quick succession, so unless you've been shopping around a lot, I wouldn't worry.

Re converting credit card to a loan: I think if the choices are credit card at 32% or loan at a decent rate, it might be worth doing. Downside is that you can't make a 2% minimum payment on a loan if you have a skint month - you're stuck with making the whole, contractual payment, but you should be able to make overpayments on a loan these days if you have extra money available (check if there's a fee for making an overpayment), and if the apr is decent, it's definitely worth considering.

Usually, when you make an overpayment, your monthly payment remains the same and you just pay it off more quickly and save on the interest.

Butti

You know something Snagggles not only are you a really nice person but you are also a godsend.

Snagggles

Ah bless you...have thought the same about you on many an occasion! xx