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Credit cards - Debt free wannabe!

Hi everyone.
I have £11k on one CC (I pay monthly DD £270ish) and another £4.5k on another CC (wife pays it monthly £110ish).
I really want to get stuck in bringing balance down on these.


I don't think I'd get a loan to pay both off, so what else can I do to avoid interest charges on such a big CC bill.


Any options greatly appreciated.
NI10

Comments

  • Hi northernireland10
    • Are your current cards offering any balance transfer deals?
    • Have you looked at the eligibility calculator to see your chances of getting a 0% balance transfer card?

    http://www.moneysavingexpert.com/credit-cards/balance-transfer-credit-cards

    good luck

    12MC
    SP 9#531=£620/SP 10 # 531=?PDBX 2016 #2 = £16,766.67/£12,000
    PDBX 2017 #2 = £1,200/£12,000


    ''If you want the rainbow, you gotta put up with the rain''
  • sourcrates
    sourcrates Posts: 31,833 Ambassador
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    Hi,

    Depends on your personal circumstances, are you in financial difficulty ?

    If so, you can write and ask the lender to lower, or stop interest so helping you clear the debt quicker.

    Or you can cut you spending on other things, and throw more money at the credit card bill.

    You have a number of options, as I said, it just depends on your circumstances.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • enthusiasticsaver
    enthusiasticsaver Posts: 16,105 Ambassador
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Move them on to 0% deals if you can and then focus on cutting costs to increase the monthly payment to bring them down. Getting a loan to pay them off is not the way to go.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.

    The 365 Day 1p Challenge 2025 #1 £667.95/£391.55
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