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Big win in shifting to 0%
niksyg
Posts: 678 Forumite
Just wanted to share my excitement about saving nearly £600 in debt repayment just through shifting to a 0% card!
I have a debt of £2739 sitting on a Tesco 0% credit card until 2017 which I have been paying off using the 1% trick found elsewhere on this forum - I find it a lot easier to 'see' the debt decreasing 1% at a time.
I also had a loan that was ticking along with an outstanding balance of £5558.11, so I decided to ask for a settlement figure, which I was told was £4885.10. I have a Barclaycard with no debt on it, but whihc I have kept as I often get good 0% deals from them. I noticed they are offering 0% on cash transfers until September 2016 so I increased the credit limit and have paid off the loan at the settlement figure, the fee for the cash transfer was only 1.9% so I have managed to save almost £600 in repayments, just by a bit of savvy shifting!
I have also just 'tidied up' the balances so the total debt now stands at £7700 which I want to clear in 18 months.
It's such a good feeling isn't it, getting finances sorted before the start of a new year?!
I have a debt of £2739 sitting on a Tesco 0% credit card until 2017 which I have been paying off using the 1% trick found elsewhere on this forum - I find it a lot easier to 'see' the debt decreasing 1% at a time.
I also had a loan that was ticking along with an outstanding balance of £5558.11, so I decided to ask for a settlement figure, which I was told was £4885.10. I have a Barclaycard with no debt on it, but whihc I have kept as I often get good 0% deals from them. I noticed they are offering 0% on cash transfers until September 2016 so I increased the credit limit and have paid off the loan at the settlement figure, the fee for the cash transfer was only 1.9% so I have managed to save almost £600 in repayments, just by a bit of savvy shifting!
I have also just 'tidied up' the balances so the total debt now stands at £7700 which I want to clear in 18 months.
It's such a good feeling isn't it, getting finances sorted before the start of a new year?!
Clearing debt to save for a simple wedding.
Starting 2016 With debt of £7700
0
Comments
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That's great, congratulations!:j DEBT-FREE AS OF 3/11/15 :T
Money Saving Challenge 2016 #74: €200 / €3000
:eek: Debts at highest: £11k :eek:
[STRIKE]TSB credit card £4,500 [/STRIKE] / [STRIKE]Payday loans £2000[/STRIKE] / / [STRIKE]Overdraft £3000[/STRIKE] / [STRIKE][/STRIKE] / [STRIKE]Barclaycard £1800[/STRIKE]0
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