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I have 2 credit card debts, should I put them onto one card?
weebit
Posts: 411 Forumite
hi guys, debt-free wannabe here, and I'm trying to get this pesky credit cards paid off. I have 2 cards both with £1000 limits:
- Barclaycard with 27.9% interest rate
- Egg Card with 25.9% interest rate
i have reduced the debts on them to £534 on Barclaycard and £709 on my Egg making a total of £1243. in a few months, i will be under £100 between the 2 cards. would you advise i carry on with these 2 debts or transfer one dept onto my other card? getting a new card is no option to me as my credit score is rubbish as i have 2 debts at collectors.
my thought was to transfer my barclaycard balence to my Egg Card as it has a lower interest rate, but what do you think?
- Barclaycard with 27.9% interest rate
- Egg Card with 25.9% interest rate
i have reduced the debts on them to £534 on Barclaycard and £709 on my Egg making a total of £1243. in a few months, i will be under £100 between the 2 cards. would you advise i carry on with these 2 debts or transfer one dept onto my other card? getting a new card is no option to me as my credit score is rubbish as i have 2 debts at collectors.
my thought was to transfer my barclaycard balence to my Egg Card as it has a lower interest rate, but what do you think?
Aiming to pay off £50,312.94 in less than 3 years - Starting from December 2015
Current debt total: £32,756.02 (as of 1st March 2018)
Date Free Date Aim: Summer 2019 (8 extra months needed
)
Current debt total: £32,756.02 (as of 1st March 2018)
Date Free Date Aim: Summer 2019 (8 extra months needed
)0
Comments
-
Definitely. Then leave the Barclaycard open, call customer services (once you've got a statement showing a nil balance) and ask what balance transfer offers they have on. Barclaycard do a 6.9% LOB rate for existing customers, or they may even do a short term 0% deal which would be great if you're going to have cleared the balance in a few months.my thought was to transfer my barclaycard balence to my Egg Card as it has a lower interest rate, but what do you think?Proud to be dealing with my debts - DFW Nerd #4910
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