Student with Credit Card!

pinky2211

Has anyone got any ideas. I have become a mature student (nurse) and after being stitched up by my ex-partner (and if I'm honest some bad choices on my behalf too) I have a credit card at £7,500. My limit is £9,000 so I'm within my limits but I just seem to be paying off the minimum amount and it isn't going down at all. I'll still be at the same level when I finish my studies after paying off £230 each month. I am a single mother with no family around so find it hard to work ontop of my uni hours although I do the odd shift when I can. I am thinking about getting an unsecured personal loan to pay it off. I will still be paying the same amount of money off each month but atleast it will be all finished in 4 years. Does this sound like a good idea or can anyone think of any better ones?

Would really appreciate anyones input. Thanks:rotfl:

saversaver_2

Hi,
Like you i got a credit card whilst studying - worst thing i ever did but live and learn so hope this helps.. I would firstly ask for the interest rate to be lowered, i did this the other day its easy just call them up i said that i thought i was paying too much interest based on what i owed and they cut the rate by 5% this may sound small but when you are talking thousands it works out to be worth it i am now saving £150 in interest alone a year. If that doesn't help I would consider getting a loan but only if you know that you can afford the repayments otherwise you may end up in trouble the interest you pay is the deciding factor as the less interest the quicker you will pay off the actual debt. Good luck i hope this helps.