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2nd credit card
Clive05
Posts: 3 Newbie
in Credit cards
Hi all,
Just wondered if anyone would be kind enough to give me some advice. I'm in a lot of debt - I have quite a big loan, and have maxed out my overdraft and credit card (a Lloyds platinum matercard), and I'm hoping to get a 2nd credit card to use for general spending for a few months. This will all be paid off when I (hopefully) sell my house early next year. Just wondering what my best options are... Any advice would be appreciated!
Just wondered if anyone would be kind enough to give me some advice. I'm in a lot of debt - I have quite a big loan, and have maxed out my overdraft and credit card (a Lloyds platinum matercard), and I'm hoping to get a 2nd credit card to use for general spending for a few months. This will all be paid off when I (hopefully) sell my house early next year. Just wondering what my best options are... Any advice would be appreciated!
0
Comments
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You need to understand what has happened since taking out the loan/credit cards & using the overdraft all to their max capacity?
Selling your house will help to get debt free but that may/may not happen when you expect it, therefore to aim towards that date without any other plans in place would be unwise.
Applying for a 2nd credit card is not going to cure your problems, it will just defer them and make them even bigger next year.
Head over to the DFW board where there is plenty of advice on cutting costs to see if you can free up some of your monthly income rather than applying for more credit.
All the best.I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy 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.
If you can't be the best -
Just be better than you were yesterday.0 -
My advice: you don't need a second credit card.
What if you don't sell your house?0 -
Good luck with your application but with all your existing credit maxed out I think you will have difficulty in obtaining a new card.0
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