How to stop living off my credit card!

ErolGirl

ryuuoo wrote: »

You could either

a) save up/use your savings to pay for your last credit card statement
b) get a 0% card and transfer one month's living expenses onto a 0% card and then you can spend what's on your account in cash as someone else suggested and pay off the 0% slowly.

it all depends on your credit rating and your ability to get a 0% balance transfer card

Thanks Ryuuoo, I think transferring the amount on my card to a 0% card with no transfer fee would really help actually cause I could start using cash immediately after next pay day and so be more aware of my spending Thank you! !

enthusiasticsaver

Be careful you don't fall into the trap of building up the balance on the credit card while also leaving the 0% card outstanding bar minimum payments. That is how people get caught in debt spiral. Ultimately you need to budget and save for stuff instead of putting it on a card

enthusiasticsaver

Or as you say use cash for monthly expenses and once balance transferred close down your existing credit card and set up regular payment to clear 0% card within repayment period

Gregory33

Thanks for helpful tips. Tansferring the amount on credit card to a 0% card with no transfer fee is really cool!