Advice Please

tinkerbelly

I currently have a Barclays Credit Card with around £8,560 on it and paying around £222 interest per month. I am managing to pay off £750 a month and am not using the card anymore. Is there anything else I can do?!

Ebe_Scrooge

Errm, you could pay more each month ? :-)








Alternatively, you could look into getting a 0% balance transfer card and shifting as much as possible of the debt over to that. There'll be a BT fee to factor in, and you're unlikely to be offered a credit limit high enough to shift the whole lot, but it'll help. 0% cards are generally only offered to those with a decent credit history - I've no idea what your history is like, but it's something to be aware of.

CLAPTON

tinkerbelly wrote: »

I currently have a Barclays Credit Card with around £8,560 on it and paying around £222 interest per month. I am managing to pay off £750 a month and am not using the card anymore. Is there anything else I can do?!

you could try to get a 0% BT credit card and transfer some of the debt to the 0% card

Candyapple

Call up Barclaycard and see if they will reduce the APR for you - it is well documented on this forum that they do this.

Failing that, your only other options are;

1. Pay more to clear the debt faster (try selling things you no longer need, take on second job etc.)

2. Apply for a balance transfer card elsewhere

3. If you can't get another balance transfer card, if you have any other credit cards, try shifting the debt onto those: http://www.moneysavingexpert.com/credit-cards/cut-credit-card-interest