credit rates high

pantherchick

hi i could do with some advice regarding my credit card, it has a 34% rate on it, how do i go about swapping it to a lower rate, do i phone the card company first or do i try swapping with another lender, i owe around £450 any sujestions thanks

Gromitt

Depends on your finances. Do you have a job? Do you have decent credit history? Do you have other debt?

For £450, will it be cheaper to go overdrawn on your accout or request a loan?

The Card Co are unlikely to reduce your interest by simply asking them.

pantherchick

hi thanks for a reply, yes i have a job, i have a mortgage thats paid every month without fail. credit history might be a bit dirty as got some debts but almost paid back now, so credit history is vairable. have contract mobile etc, is it worth just paying lump sums off the credit card and keeping it for emergency in stead of every day things, that i probably dont need, we do go abroad each year and it helps to book into the hotel etc.

CLAPTON

difficult to see why some-one who can afford to go abroad each year can't pay their CC bill in full each month and save all that interest

opinions4u

I have two suggestions.

1) Don't use bold font.

2) Get the debt down to zero quick. Then never pay interest again.

pantherchick

thanks for you SUPPORT guys, its suppose to be a advice feed isnt it? yeah i go to NEWYORK every year, paid by cash, hard earnt cash that i work alot of shifts for, sorry if that offends you. thanks will take your advice and pay it off thats why i was asking for ADVICE. i suppose my debt really isnt that big, not like some peoples debts, but im a happy person and know that i can free from debt very very soon, even if i do carry on the way i have done, paying off this £450 monthly like i do, with a smile on my face .

cos_2

Sorry, Pantherchick.

You are quite right to ask for advice, and I'm sorry I came across like I was judging you or something. It's just that the amount you're talking about seems so little compared with your expenditure.

I love to visit the USA as well and would guess each trip is at least £5k. Because of that price I wouldn't really be thinking of asking folk about an interest level on £450. I hope you understand.

Sorry I can't help suggest a better rate somewhere.

opinions4u

pantherchick wrote: »

thanks for you SUPPORT guys, its suppose to be a advice feed isnt it? yeah i go to NEWYORK every year, paid by cash, hard earnt cash that i work alot of shifts for, sorry if that offends you. thanks will take your advice and pay it off thats why i was asking for ADVICE. i suppose my debt really isnt that big, not like some peoples debts, but im a happy person and know that i can free from debt very very soon, even if i do carry on the way i have done, paying off this £450 monthly like i do, with a smile on my face .

I'd also avoid using italics too.

pantherchick

opinions4u wrote: »

I'd also avoid using italics too.

:beer: i take that on board does it affect your eyes too . if you have nothing constructive to say or adivise, why bother.

CLAPTON

pantherchick wrote: »

thanks for you SUPPORT guys, its suppose to be a advice feed isnt it? yeah i go to NEWYORK every year, paid by cash, hard earnt cash that i work alot of shifts for, sorry if that offends you. thanks will take your advice and pay it off thats why i was asking for ADVICE. i suppose my debt really isnt that big, not like some peoples debts, but im a happy person and know that i can free from debt very very soon, even if i do carry on the way i have done, paying off this £450 monthly like i do, with a smile on my face .

your posts are making no sense now.

if you can pay off 450 per month then you will be debt free in 2 months

opinions4u

pantherchick wrote: »

:beer: i take that on board does it affect your eyes too . if you have nothing constructive to say or adivise, why bother.

I thought my earlier suggestion of getting rid of the debt and never paying interest again was very constructive.

It's a relatively modest amount. Chasing cheaper rates is all well and good but paying no interest strikes me as far better.

What's best in your eyes? Lots of interest, less interest or no interest?