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Help re which to pay first
honeypooh1980
Posts: 98 Forumite
I've just cleared my catalogue today which was my smallest debt and now need some help working out which is the best route to take paying the rest.
This is my breakdown:
Mint
£1512 at 0% until 1st May 2013
£664 at 17.5%
Any payments go against the amount with the highest interest first
Barclaycard (Egg)
£602 at 16.9%
Plat Barclaycard
£3652 at 0% until 1st Jan 2014
£1924 at 18.9%
Any payments go against the amount with the highest interest first
I currently have everything set to pay the minimum amount by DD every month to make sure i don't miss any payments.
Any help would be greatly appreciated.
This is my breakdown:
Mint
£1512 at 0% until 1st May 2013
£664 at 17.5%
Any payments go against the amount with the highest interest first
Barclaycard (Egg)
£602 at 16.9%
Plat Barclaycard
£3652 at 0% until 1st Jan 2014
£1924 at 18.9%
Any payments go against the amount with the highest interest first
I currently have everything set to pay the minimum amount by DD every month to make sure i don't miss any payments.
Any help would be greatly appreciated.
Lloyds CC: [STRIKE]£8651[/STRIKE] £8307 - Barclaycard CC: [STRIKE]£813[/STRIKE] £1208
MBNA CC: [STRIKE]£2712[/STRIKE] £2005 - Mint CC: [STRIKE]£782[/STRIKE] £976
TOTAL Start debt at 10th June 2015 : £12,972 :eek:
Current debt (8th October 2015): £12,496 = 3.67%
MBNA CC: [STRIKE]£2712[/STRIKE] £2005 - Mint CC: [STRIKE]£782[/STRIKE] £976
TOTAL Start debt at 10th June 2015 : £12,972 :eek:
Current debt (8th October 2015): £12,496 = 3.67%
0
Comments
-
Does the mint card 0% revert to 17.5% after May?
Pay any extra amounts above the minimum to the Plat barclaycard first, until the £1924 balance is fully paid.
Then pay any extra payments to the Mint card.A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0 -
Hi Tixy,
Yes the Mint will revert to 17.5% after May so will be trying to shift this to another card on 0%.Lloyds CC: [STRIKE]£8651[/STRIKE] £8307 - Barclaycard CC: [STRIKE]£813[/STRIKE] £1208
MBNA CC: [STRIKE]£2712[/STRIKE] £2005 - Mint CC: [STRIKE]£782[/STRIKE] £976
TOTAL Start debt at 10th June 2015 : £12,972 :eek:
Current debt (8th October 2015): £12,496 = 3.67%0 -
Thanks for the advice.
I'm hoping to have about £300 to pay off cards by the end of this month so will pay this all off the Mint card. Hopefully i will get £664 gone before the 0% runs out. i know i can get a 0% on my plat Barclaycard so will look at the option of this. Then will concentrate everything on the plat Barclaycard.Lloyds CC: [STRIKE]£8651[/STRIKE] £8307 - Barclaycard CC: [STRIKE]£813[/STRIKE] £1208
MBNA CC: [STRIKE]£2712[/STRIKE] £2005 - Mint CC: [STRIKE]£782[/STRIKE] £976
TOTAL Start debt at 10th June 2015 : £12,972 :eek:
Current debt (8th October 2015): £12,496 = 3.67%0 -
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Pay off Barclaycard firsthoneypooh1980 wrote: »Barclaycard (Egg)
£602 at 16.9%
Mint
£1512 at 0% until 1st May 2013
£664 at 17.5%
Plat Barclaycard
£3652 at 0% until 1st Jan 2014
£1924 at 18.9%
start finding a low interest rate place to put the Mint debt after May but pay Mint down in the meantime
Broadly if you have 0% deals available and you are paying those down, pay off the earliest first.You might as well ask the Wizard of Oz to give you a big number as pay a Credit Referencing Agency for a so-called 'credit-score'0
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