We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Citibank loan 12.9 %-Advice needed
Options
moneymaker2
Posts: 449 Forumite
Hi All,
Bit of advice needed really- We are needing to do our garden for when the new baby is born and it will cost around £1500 to do.
Citifinance have offered us a loan for £9000 which would mean I could clear off liams creditcards whuch he is currently paying £208 a month on and this new loan is £203 a month over 5 years which is less than the time it would take to clear the creditcards as we only make the minimum pymts to them.
I have worked out that it would increase our debt by approx £900 in total.
I haven't mentioned it to my husband yet cause I know that he would bit their hands off.
Help please
Bit of advice needed really- We are needing to do our garden for when the new baby is born and it will cost around £1500 to do.
Citifinance have offered us a loan for £9000 which would mean I could clear off liams creditcards whuch he is currently paying £208 a month on and this new loan is £203 a month over 5 years which is less than the time it would take to clear the creditcards as we only make the minimum pymts to them.
I have worked out that it would increase our debt by approx £900 in total.
I haven't mentioned it to my husband yet cause I know that he would bit their hands off.
Help please
0
Comments
-
A newborn baby doesn't need a garden. You would be far, far better off saving the amount you would be using to repay the loan and have the full £1500 in seven and a half months time... well before your baby will need to go out and play in the garden which won't be till next summer at least.
Lotta
Aargh! Editing again as I've misread I think (and lack of sleep is causing lack of brain power lol!). What are the apr's on the cc's and on the loan you are considering?"One hundred years from now, it will not matter what my bank account was, how big my house was, or what kind of car I drove. But the world may be a little better, because I was important in the life of a child."0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.9K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards