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Obtain credit card to help bring overdraft down?

stevobreen73 · 2015-02-12 22:04:32

Im looking for some advice. I currently have an overdraft of about £2000 which is slowly reducing each month ( by approx £300-£400) My overdraft fees are about £25 per month. I have a holiday to pay for in March in the region of £2000 and also a settee in August for about £1300 so the overdraft will increase again. I'm…

Comments

Anthorn Posts: 4,362 Forumite

21 June 2015 at 9:01PM

grumbler wrote: »

Increasing spending isn't the same as increasing income. Sooner or later you have to pay back what you borrowed plus the interest, so your total/average income can get only smaller.

The money we spend comes from income so therefore if credit allows us to spend more then income has been extended.

My last on this because I don't want to labour the point.

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