Graduate wanting advice please!

askintstudent

Hello there,

I will first lay out my debts so you can all see;

Co-op student account: £1300 balance/£2000 limit(by June this will have to be paid off as they don't have any graduate facilities)

HSBC £1500 balance /£1500 limit(9.9EAR)=£14.80 a month

Natwest £0 balance/£2000 limit( reduced to £1000 after 2 years of graduation but interest free)

Credit Cards

Natwest £700 balance/£1050 limit(0% for 12 months)(£17.50 mp)

Barclays £1700 balance/£2000 limit(0% for 12 months)(£42.50 mp)

I am currently unemployed but as soon as I get back from holidays next week I will be looking for work.

My question is that I would like to use the £1500 from the Natwest account to pay something off but I am unsure of what. Either £1500 off barclays and do a bt from natwest and pay off barclays or pay off hsbc account.

What is best for me do you reckon guys?

Thanks in advance!:j

Verbatim

Is your co-op student account interest free? If so the only interest you're paying is on the HSBC account (or is it a credit card?), so it makes sense to get rid of that. Be careful to repay your other ccs before the 0% interest finishes, if you can though.

rayday2

I think the first priority is to get an income, take anything at first its always easier to get a job in a job and then depending on your wages see what you can do.

askintstudent

Verbatim wrote: »

Is your co-op student account interest free? If so the only interest you're paying is on the HSBC account (or is it a credit card?), so it makes sense to get rid of that. Be careful to repay your other ccs before the 0% interest finishes, if you can though.

The co-op account will remain interest free till july next year. The hsbc account is a graduate account(no credit card) but they charge 9.9 ear. My basic aim is to reduce my monthly outgoings until I find a job. I live at home so my monthly expenses are about £110 a month if that.

askintstudent

rayday2 wrote: »

I think the first priority is to get an income, take anything at first its always easier to get a job in a job and then depending on your wages see what you can do.

I will prob be returning back to my old job in November as they have said I can return anytime, its just I want to go travelling for 3 months before I go back to full time employment!

rayday2

Oh I see!

Is there anything you can to help finance it like a car boot or something or is that not a problem, financing trip?

Idiophreak

...am I missing something...could you not just pay off the 9.9% HSBC OD with the 0% Natwest one? Would save a frew pennies anyway...

askintstudent

rayday2 wrote: »

Oh I see!

Is there anything you can to help finance it like a car boot or something or is that not a problem, financing trip?

Nope financing the holiday is no problem as I have money saved myself and rents paying towards it as well. I was just mentioning the trip as it will delay me going back to work.

askintstudent

Idiophreak wrote: »

...am I missing something...could you not just pay off the 9.9% HSBC OD with the 0% Natwest one? Would save a frew pennies anyway...

Thats what I am asking, shall I pay off my barclays credit card or switch my hsbc grad account to natwest?