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Loan or continue paying off credit card

Hello,
I owe £3000 on a Barclaycard credit card, APR on purchases 19.9%. Wondering whether to go for a loan with Zopa or continue to pay off my card. I can afford a payment of £250 a month.

Understand about balance transfer but all the new and good deals seem to be with Barclaycard an only apply to new customers.

Please help what will I do, sick of having this hanging over me.

Mhuireann

Comments

  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    Mhuireann wrote: »
    Hello,
    I owe £3000 on a Barclaycard credit card, APR on purchases 19.9%. Wondering whether to go for a loan with Zopa or continue to pay off my card. I can afford a payment of £250 a month.

    Understand about balance transfer but all the new and good deals seem to be with Barclaycard an only apply to new customers.

    Please help what will I do, sick of having this hanging over me.

    Mhuireann

    If you pay 250 a month on the card it will be clear in just over a year (say 13 months) : that doesn't seem too long.

    However, if you have a good credit history and a decent income then Halifax, Natwest, Sainsbury offer 0% BT deals
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