Chasing Freedom!!

chasingfreedom

Yes pinkpoppies I know, hopefully might cut a month off my debt free date if I'm lucky


Mums, the novelty hasn't worn off yet She came home from after school club yesterday and got straight into bed with a snack and listened to a bit of frozen, lol. Got up for a bit (then dressed up as Elsa!!) and then decided at 7 she was off to bed to watch a film. She was a bit gutted when she tried to get up at 8 and I said no it's time to sleep, haha. She usually goes to bed about 7.30 and watches a film till about 8 before sleeping. She still loves it though, long may it continue

Igamogam

[QUOTE=chasingfreedom;68427435


I'm a bit gutted that the Argos store card we have (which is the one I really wanted to transfer) apparently is part of Barclays group and you can't transfer them We have a balance of 871.19 on there and I'm wondering whether I should try another non Barclays credit card with 0% or just get stuck into the balance and pay it as quickly as possible, what do you think?


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Keep your Halif*x card........they may well offer you a 0% transfer deal so then you can transfer your Arg*s card. Not sure if Cap1 and Vanquis would do the same. If they dont offer you one then ASK!!! You are better doing this than closing cards then applying for new ones - doesnt look good on credit reference score.

Are you paying your cards by DD? If DD are set up then you will never miss a payment and any over payments can be done on line as and when you can. Joined the PAD challenge yet??;)

chasingfreedom

Hi Igamogam, yes I thought of that already ref the Argos card. I'm waiting for the other balances to clear first and then I'll see what I can get. I am hoping to transfer it so everything then will be on 0%.


Yes we have DD's set up for the minimums and I overpay manually online if I want to pay more off.
I haven't joined PAD yet because I'm waiting for payday (Friday) and there isn't really anything left at the minute other than a couple of quid which I need for school stuff, lol (I paid another few overpayments with the last 100 quid) Looking forward to getting involved in that


Can't wait for Friday to roll round so I can reduce some more balances. Got a few statements aswell I'm waiting to be created (Saturday) so I can see true balances and what the minimum payments are etc. I hate this waiting malarkey


Have a lovely day x

chasingfreedom

Ok, so advice please. I just checked our credit card balances online and the Halifax balance transfer has gone through leaving me with a balance of 80p (forgot the pence dammit!!) and I have an option to do a balance transfer 0% for 6 months. Do I transfer the Argos card balance of £842 to the Halifax card and try and clear it within the 6 months or do I try and get a better deal with 0% for longer than 6 months just incase I can't clear it that fast?

mumstheword***

I guess it depends on your credit rating?!? Having just applied for the Barclaycard are you likely to be accepted for another? Maybe transfer to the Halifax and if you cant make the 6 months then transfer at the end??

Igamogam

Well that is about £140 a month plus the 3 % fee. Even if you don't clear it you will not be paying interest but will the interest be more than the fee? If it is I would move it, set up a DD for a set amount above the minimum and throw everything at it over the next 6 months...........that is how I would deal with it as it suits me!

Igamogam

And MTW is right ........leave a few months before trying for another NEW card.

chasingfreedom

Mums, yes we were surprised to get the new Barclaycard so not sure whether we'd get another straight after anyway. My thinking was the same, maybe in 6 months transfer anything left again, maybe to the Barclaycard as there'll be free balance on it by then and still 29 months 0%.


Igamogam, the interest on Argos is 29.9% (ouch!!!) so I think paying the fee is definitely less than we'd pay if we left it where it was. We don't seem to have got anywhere in reducing the balance for ages but have been prioritising something higher interest (yes I know, even higher than 29%!!!)


I think you are both right, I'll do the transfer and do as much as I can in the next 6 months to clear it and then see where we are and where to go next. I've got other bills with higher APR though so I need to be careful I don't end up paying massive interest by focusing on this when there are higher priorities. I shall consult the magical spreadsheets

Igamogam

chasingfreedom wrote: »

Mums, yes we were surprised to get the new Barclaycard so not sure whether we'd get another straight after anyway. My thinking was the same, maybe in 6 months transfer anything left again, maybe to the Barclaycard as there'll be free balance on it by then and still 29 months 0%.

Your 0% balance will have a time limit on it - i.e. you can make transfers for a 0% offer within a certain time - usually about a month. Any transfers made in that time frame will be at 0% for the whole of the 35 months.If you pay it off before then it doesnt mean you can then transfer more balances and have 29 months interest free. Which I think is what you were saying above ( maybe I read it wrong!)

B'card may well offer you another 0% package ( I get offers almost every month) but each BT will be separate BT offer so currently I have 2 0% offers on my B'card one finishes in August and another in November.

Also if you have multiple BTs in one offer remember any payments will reduce the balance in a particular order - highest BT first. And when you have multiple BTs that begin to attract interest then the highest balance with interest will be reduced first: in my case if I dont move the balance of the offer ending in August any payments I make will go to reduce that part of the balance first..........its all the things you need to think about when juggling BTs!!

Igamogam

Oh yes you are right and always chuck as much as you can at the higher APRs!! If you have 0% for 35 months then divide the balance by 35 and pay that every month rather than paying it sooner........you are not paying any interest and it may well free up some extra to throw at the high APRs......you have probably though of that already!