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Halifax Credit Card
moodlemoo
Posts: 2 Newbie
in Credit cards
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!
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!
0
Comments
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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.Censorship Reigns Supreme in Troll City...0
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