Credit Card or Loan

est1984

I have too many payments that are due soon.

I have £300 Car Finance, £300 Insurance, £92 Driving Penalty, £120 Road Tax.

Requoted on Insurance and I can pay £1000 and avoid the monthly payments if I pay in full in January, however I don't think I will be able to save enough for it in time.

So now I am thinking if I can find a credit card or even a loan to help me as i know I that I can get it paid off in January.

I was thinking about using Wonga as well. What does anyone recommend?

My credit isn't great, I have a score approximately 800

opinions4u

Has saving up for things ever crossed your mind?

est1984

Well I have in the past, but I just got with a new girlfriend. She's pretty much wanting to go out abit so I haven't be able to save as much as normal

tink_1983

so is ur insurance £300 or £1000?
big difference?

try for a 0% credit card, can put everything barr the finance payment on that, as presume you have a dd set up for ur finance?

est1984

Currently its 1800, I pay 300 a month, it finishes in December.

My new quotation is for £1000, I want to pay this all in full and avoid the monthly payments allowing me to save more.

YorkshireBoy

Option 1: Get a more 'homely' girlfriend.

Option 2: Get a 0% on purchases credit card.

But please do remember that the insurance will be due on the same date in 2014, so you may wish to revert to option 1 by that date.

tink_1983

Dear me your car insurance is £1800 a yr!! ouch!!

Well try for a 0% card with decent amount of months interest free, if you go for a loan you will be paying the interest from the start.
Not sure how you will get on with ur credit rating, but can give it a go?

est1984

Well its not easy having a girlfriend that lives 50 miles away, and I work 50 miles away and I just travel travel and travel more often than I would like. But yes, I shall be putting aside the money which I will be saving from the no monthly payments as I expect more payments due to my car, such as new tyres, cambelts, and brakes.

est1984

Are these 0% cards good with people who have poor credit history? I don't want to start applying and then realise that all my applications have an effect on my actual score.

tink_1983

only apply for one, dont apply for loads all at once!

YorkshireBoy

est1984 wrote: »

Are these 0% cards good with people who have poor credit history? I don't want to start applying and then realise that all my applications have an effect on my actual score.

Forget the 800 number...it's meaningless.

Why do you think you have a "poor" credit history? Have you missed payments in the past? If this is recent then you can almost certainly forget 0% credit cards.