Minimum payments on credit cards....

shayshay

I currently have a credit card which at the moment tends to get the minimum paid so they will take ages to actually clear by the time the interest is added on. I also have a couple of catalogues which are more than the cards along with some household bills etc.

Credit Card - £60 minimum payment
Catalogue 1 - £180
Catalogue 2 - £70
Household bills - £200

The amount is pretty much the same each month, so wouldn't be adding to the debt itself.

Would I be better off paying all of the £510 on the credit card and then paying each of them via the card? Will the fact that I had paid more than the minimum be good credit rating wise?

postingalwaysposting

i personally wouldnt use the credit card to clear your debts. If you do it like surely you will still be paying teh same each month but putting it onto your credit card then paying it back off to the catolouges... it will still result in the same end result.

Have you posted your soa yet? do that first and we can see colectively if you can do anything to shave something off your bills/spending money to repay your debts faster. Also look at this website http://www.whatsthecost.com/default.aspx?country=uk it will tell you in which order to pay your debts off to pay the least amount of intrerest