Loan advice

Shack_attack

Tixy wrote: »

Generally lenders update the credit reference agencies once a month, so depending on the day they update it could take around a month before the balance shows as being paid off. And if she closes the card down after that then it could take another month to show that the account is closed.

Okay thanks.

So process from here on in (not necessarily in date order):

1. Assess specific percentages and charges of the MBNA credit card initially
2. See which option is better between loan / paying card of in installments
3. Make one application for a loan and see what the situation is
4. Pay off the other credit card in March or try and swap balances if need be and if there are any 0% offers on transfers etc

Tixy

Sounds like a sensible plan.

I'd perhaps add in obtain a loan quote from one of the places that offer a soft search option. Nationwide is one, I think zopa also may do.

Shack_attack

Tixy wrote: »

Sounds like a sensible plan.

I'd perhaps add in obtain a loan quote from one of the places that offer a soft search option. Nationwide is one, I think zopa also may do.

Will they do this for free do you know? I know some companies will charge a fee to do this

Tixy

Nationwide certainly does. You can do it online in a couple of minutes.

Shack_attack

Perfect thanks for your help!

Fingers crossed it's a positive outcome, but at least there are several options to play with and not all doom and gloom!