Santander 123 Credit Card Help

XiiD

Hi All

As you probably worked out from the title I have a 123 card and have had fora few good months now. It was only used on occasion and while I had the 0%interest on purchases it was perfected from helping me renovate the run downhouse I bought. All them B&Q paint trips add up

Basically where I am at now - I think I owe about £1700 and my 0% interesthas until about April 2016 before it runs out. Spread over my paydays wouldwork out about £340 pm. I've had the card down pretty low and then something hascome up which has meant I haven't been on target to pay it off before the 0%runs out.

I've worked out with Christmas coming up before April I could pay £800-1100at a push that’s taken into consideration nothing else goes wrong.

Too add on top of this I have 3 pets a 2 of which are currently sick one elderlycat has just become incontinent and a kitten who suffered so outdoors injuries.I don’t have pet insurance so have been paying out my disposable money or thecredit card.

So now what I want advice on

Saving waiting until April I wanted to go to the bank preferably January andattempt to sort this.

Some people have been whispering about transferring the balance to another0% card? Would this be possible? Am I likely to incur any problems doing this?I don’t plan on using the new card and would literally be using it to givemyself more breathing room in payments.

Other options - take out a loan to cover it? Not keen on paying the intereston a loan but I know Santander would give me one.

Use some of my bond money - but I have already done that this year and willlikely get taxed on my next withdrawal due to being over the threshold - also Icannot buy back into the bonds. So once I sell them it is done and my currentrate is rather good.

What would you suggest?

I'm not behind with any bills I have a few things on finance and about 30%left to pay on my mortgage. My credit last time I checked was very good. I justlost it a little bit with this card and let it spiral.

XiiD

Candyapple

Read this and apply for the one that best suits your needs:
http://www.moneysavingexpert.com/credit-cards/balance-transfer-credit-cards

XiiD

Candyapple wrote: »

Read this and apply for the one that best suits your needs:

Thanks I've just had a read through and seem very straight forward. Do you think it would be likely for Santander to do anything for me in house? Save me transfering to a different bank surely they would want to keep my debt rather than me take it somewhere else I could potential mess up?

Candyapple

The thing is, Santander won't offer you any deals until your 0% runs out which won't be until April 2016. However, I have not heard about Santander being a known provider who regularly offer 0% deals to existing customers so you are taking a big risk on waiting a further 4 months on the grounds of hoping that they might offer you a deal.

Santander want you to keep the debt with them at whatever the APR will be once your 0% runs out because that's how they make money, relying on customers to run up debts and not being able to pay them back.

Why would you mess up transferring a balance? All you have to do is apply for a new card, enter your Santander card details when prompted (assuming you get accepted instantly) and the amount you want to transfer and that's it. It's not rocket science. Just don't forget to set up a DD and you are good to go for however many months 0% you get.