Halifax Credit Card

moodlemoo

Hi
I have a Halifax credit card, which I have had for a few yrs Andy's approx 5000 on it. My credit limit it 11000. I was given this card while I was on benefits and unemployed about 7 yrs ago. Since then the interest rate has slowly increased and is now 24.9%, and it is also linked tithe bank if England interest rate, meaning if that goes up by 1% so does my interest rate. I can't afford to pay the whole thing off so have had to keep it. I would like to do a balance transfer but as I am self employed and receiving 5000 a yr, it is unlikely I will be accepted. I would like to reduce the debt and also have a card I can use that won't cost me the earth, but I don't know what I can do, and feel tied into their ridiculously high rates because of my circumstances. Help please!

forgotmyname

Are you working? (err where is the rest of my post?) it vanished...

Damn...

I did mention what % of the £11,000 credit limit is against your income. If its a high percentage then the chance or more credit is much less.

If its borderline then reducing the limit may help.