Advice needed please!

pompeyred

oh deliberate mistake on the 2 reasons before I get flamed..... these are the stats and grammar police

p00hsticks

I think this thread is getting a bit silly now, but....

OP, I think you've realised now that you've been rather hasty in letting your mum withdraw the cash from her existing card before she's actually ensured she can open another card with a 0% balance transfer offer. Although it's true that you needed your mum to withdraw the cash before doing a balance transfer, the step before that shoudl have been to make sure that she had the new card.

As others have explained, the cash withdrawal wil be accumulating interest straight away, so you or her really need to try to get that balance as low as possible as soon as possible.

You say that your mum owed £800 on the card and £1500 to you - that makes £2300. So how is it that you are now saying that she owes £2500? If shes withdrawn more cash than is actually needed, the I'd suggest she pays it back to the card ASAP.

stephane_2

stellbob wrote: »

looks like THEPAIN aka STEPHANE has left the building....

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

stellbob

Hi Poohsticks, I think humour was the only way to cope with Stephanes comments. If Id known all about credit cards etc i would never have asked for advice on here. I think if regular posters actually thought about their flippant replies before answering it would save an awful lot of frayed tempers on here. Surely this forum doesnt exist solely to highlight peoples financial inadaquacies (as well as spelling!) and to tell them how stupid they have been?
Anyway, thankyou for your helpful comments. Every other reply has been informative and told me things that i shall take on board incase there is a 'next time'.
In answer to the amount owed...my mum has a Mastercard and was £4000 in debt. Even thought she made regular repayments, the interest swallowed up most of it. I had £1500 sitting in my current account so gave her that and a further £350 to put into the Mastercard account to try to decrease the interest - not sure that makes sense but anyhow thats what i did! Sometime today she told me she owes the card £800 still. Todays events are becoming a bit of a blur!
The end result anyway is that she is waiting to see if she has been accepted for a Tesco 0% card with a £700 balance transfer. She has also applied (and been accepted) for a Barclaycard 0% with a £7000 balance transfer. Seems very odd to me that they have given a much bigger balance transfer but what do i know?:D