Credit Card Challenge Anyone?

Applecider_2

Hi everyone not been on for a while but everyone else seems to be doing so much better than me never mind time to catch up! I sold a book on amazon for £9 and im listing some stuf I found but im not very hopeful. The debt is getting me down a bit coz it seems never ending and everyone started charging me interest, Ive tried getting new cards to get rid but no luck. My blinkin wages dont even cover the bills at the moment!! anyone else like this?? I know I was silly buying clothes etc ( I am only a girl lol) so if anyone does have any ideas please I love to hear them! Oh one good thing I got the job in the bistro in town so thats a little more cash just have to try and get some tips hehe!!

racer256

Can I join? I have a loan which at a guess is the same amount as yours. I have saved a dismal £57 so far also doing mystery shops. This will give me more motivation to sell on E-bay, since paying off my CC I have little motivation but there is stuff I could do with getting rid of. I think I can pay it off in 3 months (would be quicker if I wasn't on holiday-not on CC, saved up for!!).
M X

planbetter

Would like to join too. Have 4002 pounds on a virgin credit card. Want to bring it down to 3000 so I can transfer it to a lower rate M&S credit card. Just paying minimum at the moment as have not succeeded in getting through the month without using it since my mortgage went up by 250 pounds when fixed rate finished.

Applecider_2

hiiiiiiiiiiiiiiiiiiiiii!!!

How is everyone doing? I managed to sell 350 worth of stuff on ebay! cool yeh, hows everyone else doing? My total has come down from £1800 - £150 through selling, transferring etc so Im happy get rid of this and then onto the next card!!!! plenty to go xxx

Storm

I'm still waiting on cheques to arrive that will help a lot - £30 for switching utilities and £50 from the Inland Revenue - currently it looks like I'll be £134 OD at next payday & if they come in it will be only £54. *Technically* I suppose because I get paid on the last day of the month I will have it all paid off by the end of May, but I really wanted to clear that off completely so that I can concentrate on the credit cards (been moving money around to better rates!) Oh well, have to see what I can put on Ebay I guess...

david_hellier

One thing is for certain, never make the minimum payments. Always maintain the same repayment level.

The following table may help:

Credit Card Rates and Time Taken to
Payoff £$€1000*

Monthly% APR% Time
1 12.68 11y 1m
1.1 14.03 11y 6m
1.2 15.38 12y 1m
1.3 16.76 12y 8m
1.4 18.15 13y 4m
1.5 19.56 14y 1m
1.6 20.98 15y 0m
1.7 22.42 15y 11m
1.8 23.87 17y 1m
1.9 25.34 18y 5m
2 26.82 20y 0m
2.1 28.32 21y 11m
2.2 29.84 24y 3m
2.3 31.37 27y 4m
2.4 32.92 31y 3m
2.5 34.48 36y 10m
2.6 36.07 45y 0m
2.7 37.67 58y 6m
2.8 39.29 85y 3m
2.9 40.92 164y 5m

*Assumes minimum payment of the higher of £$€5 or 3% per month

planbetter

Gulp - have struggled to make minimum payments even. My master plan is to budget for five week months every month and put the extra weeks money into the credit card on four week months. Think there is one coming up. My problem is I don't have an emergency fund and every single flippin month something seems to break or wear out in the house. These forums are the only thing keeping me sane at the moment - can you sell broken stuff on e.bay?!;)

fedupwithbanks_2

Hi

Have done lots of extra work but won't get the money for a month but at least it is coming so will be able to pay a bit off the cahoot although American Express have offered a full and final settlement at 50% which is about the same amount as the cahoot so I may go for this then it is one less and then go back to the cahoot one afterwards, not sure yet which is the best way but got a month to think it all through. Hey Emily I just saw your name on the winners board for the cup warmer (i'm gutted but pleased for you) unless someone else has the same name as you (sorry if it is not you especially if you were looking forward to winning it;) )

If anyone has any thoughts on the AMEX offer I would be grateful

Ellie XX

planbetter

Sorry don't really understand what the Amex offer is. Hopefully someone with more experience will get back to you.

My credit card company have just put my credit limit up again - it's like being invited on a journey deeper into hell - what do they think they're playing at - makes me sick. Can't wait to get rid of this debt.

Have got my account on line and set up a payment transfer thing so I can make overpayments easily if I have any spare cash so thanks to everyone who is keeping this thread going as I am now getting to grips.

Now if someone could give advice about the Amex thing that would be another learning curve started.

Applecider_2

I FINALLY PAID THIS STUPID CARD OFF!!!!!!!!! YAY!!! unfortunatley tho I think Im going to have to phone them and ask if they will do a good balance transfer rate because all my other cards are on full rate so.... never mind I think we should start a new challenge..... pay off card no 2!! which was actually the first card but not the same money!? haha