getting in a muddle, please advise.

campervancrazy

Hi can any of you experienced people help me sort out what to do with the following:
cc @ 17.9% owe £900
overdraft with halifax £600 currently @ 0% till oct (buffer whilst switching)
what should i pay off first?
can throw couple of hundred per month at it.
many thanks

Ben8282

Obviously the balance with the highest rate of interest.

[Deleted User]

What rate will you be charged on the Overdraft in October?

CLAPTON

what happens after october to the OD?

campervancrazy

think it goes to unplanned od fee which is £5 per day but not sure need to call halifax tomorrow to check
thanks for replies

CLAPTON

essential information

900 at 17.9% will cost you 900 x 17.9%/12 = £13 per month

so if the OD costs more than that, then it's a no brainer, get rid of the overdarft asap

mum2one

unless the account is a fee paying account from memory its a £300 buffer zone, ( i had it last yr for 3 mths, then down graded to standard account), the standard overdraft agreement under £2,000 is £1 per day, - so you'd be looking at £31 on average per month, so I would clear the overdraft asap before they start charging or as quick as possible x