Shuffle question

TheNut

Spendit Sue. Do a credit card pre check on here. It only takes 2 minutes and it will tell you which credit cards are likely to accept you. Then you can get one and do a balance transfer and get a 0% deal.

Its a soft search, so it wont affect your credit rating.

Spendit_Sue

Thanks TheNut for the advice. I will give that a go.

Candyapple

TheNut wrote: »

Spendit Sue. Do a credit card pre check on here. It only takes 2 minutes and it will tell you which credit cards are likely to accept you. Then you can get one and do a balance transfer and get a 0% deal.

Its a soft search, so it wont affect your credit rating.

Not worth it considering Sue has stated she has £19k of debt and no income - no lender will lend her anything.

£7k on Cap One :eek: Yes you need to go back to work or perhaps look at speaking to a debt charity such as StepChange to go into a debt management plan because a quick calculation on the snowball calc with £100 as a min payment towards it with rough APR of 29% it would take you almost 15 years to clear it with a whopping £16k in interest on top. That is Cap One debt only, I didn't even factor Barclaycard debt into it. There really is no point scrabbling for pennies by selling things to pay minimum payments to buy yourself time, you clearly can't afford to service your debts so need to speak to a debt charity ASAP.

msallen

You seem to fixated on CapOne's non-mainstream cards. Sue has not mentioned an APR, and with balances as high as she has, its almost certainly a mainstream CapOne card she has, so your assumption of 29% is unwarranted until or unless she confirms it. (My CapOne card is 15.01%APR and still pays 1.25% cashback for example)

Candyapple wrote: »

Not worth it considering Sue has stated she has £19k of debt and no income - no lender will lend her anything.

£7k on Cap One :eek: Yes you need to go back to work or perhaps look at speaking to a debt charity such as StepChange to go into a debt management plan because a quick calculation on the snowball calc with £100 as a min payment towards it with rough APR of 29% it would take you almost 15 years to clear it with a whopping £16k in interest on top. That is Cap One debt only, I didn't even factor Barclaycard debt into it. There really is no point scrabbling for pennies by selling things to pay minimum payments to buy yourself time, you clearly can't afford to service your debts so need to speak to a debt charity ASAP.

TheNut

Part one of my shuffle is done £5000 from my Barclaycard to Santander. This leaves me a space of £5650 on my Barclaycard which I can use to swap another balance to.

This is their current offer "6.9% until paid in full
2.9% fee applies"

Should I do that, or wait for a 0% deal to appear on Barclaycard, they tend to have them every few months?

TheNut

bump, any advice for my last question? cheers

Candyapple

TheNut wrote: »

bump, any advice for my last question? cheers

I would wait, they usually give you new 0% offers every month.