what are the chances !

softmind82

Hello i am using my barclays card from one year i have got 1k limit and now balance is 980 which i have to pay .. bloody hell i was just making minimum payment every month and it doesn't seems to finish but i have never missed my payment.

I am earning 25k and this was my ist ever credit card and limits was so low.

What do you think it would be good idea to apply a new card with barclays and do balance transfer with them, how much chances they have got to accept my new application if i make any .

Please suggest me something so i can pay this money within 6 to 8 months.

Thanks.

[Deleted User]

I dont understand half of that, but pay off £200 a month and your sorted.

Ive never personally understood why people knowingly keep a balance on a credit card.

Good Luck

Mark7799

1. Stop using the card
2. Pay it off

MABLE

Surely for you this is just a small amount. According to one of your posts going back to January of this year you stated you were earning £20k per annum but now you say £25k. So based on that you have had a £5k pay rise and you are asking about a small debt of £980.

Sorry just does not add up.

cruzier

softmind82 wrote: »

Hello i am using my barclays card from one year i have got 1k limit and now balance is 980 which i have to pay .. bloody hell i was just making minimum payment every month and it doesn't seems to finish but i have never missed my payment.

I am earning 25k and this was my ist ever credit card and limits was so low.

What do you think it would be good idea to apply a new card with barclays and do balance transfer with them, how much chances they have got to accept my new application if i make any .

Please suggest me something so i can pay this money within 6 to 8 months.

Thanks.

You need suggestions on how to pay your balance within 8 months? Just pay £122.50 per month. What suggestions were you looking for?

wayoflife

Ok guys you are being a bit harsh, although quite funny!!

Look, this is your first credit card, and let this be a lesson to you. You say that you cant beleive that you still have this amount owing. You must remember and understand that the credit card companies do not want you to pay the balance off, and if you were only making the minimum payment each month then I am not surprised that you have alot owing still.

And please dont fall into the trap of thinking that transferring the debt will get you out of trouble, even if you do get accepted for the card there are other things to consider i.e. balance transfer fees

This site is a brilliant tool for advice, as it helps people from all ranges of financial knowledge, so do not be dishartened by the comments they are only to help you

Dont apply for another card, just pay this one off with as much as you can each month. I dont know your financial situation, but 25k is a good amount of take home pay, you should be able to clear it within a couple of months.
You need to look at your spending and prioritise, cut back and pay it off asap thats the only thing you have to do.

when its clear then opt to pay your entire balance each month by direct debit.

You can then look at getting another card, but ask yourself first whether you really need it. It depends on what you are looking to do.

Keep an eye on your spending and have a budget for each type of spending and stick to it.

If you are really that bad then only put certain things on it (i.e. petrol)

It sounds silly but it really isnt that hard if you just learn the system. Educate yourself and understand what to do.

Im sorry but it sounds as if you are looking for a magic answer and there isnt one out there!

Dont spend what you havnt got!

J

wayoflife

softmind82 wrote: »

What do you think it would be good idea to apply a new card with barclays and do balance transfer with them, how much chances they have got to accept my new application if i make any .
Thanks.

By the way you cant have more than one card with one company. If you already have a card with Barclays you cant have another card.

GeorgeUK

hi softmind

I agree with wayoflife - no point in asking barclays for another card. You can't have more than one CC with the same provider.

If you are struggling with the payments, what i would suggest is to go to another bank like virgin and using their card ONLY for the balance transfer (at 0% interest) and paying this off. Make sure you do not use the card to buy anything.

Hopefully you'll be able to clear that fairly quickly - even at your current min payment amount.

MABLE

GeorgeUK wrote: »

hi softmind

I agree with wayoflife - no point in asking barclays for another card. You can't have more than one CC with the same provider.
Unquote

The above statement is incorrect. I have 2 CC's with Barclaycard. Also have a Sony card and MBNA card. The Sony card is administered by MBNA.

wayoflife

MABLE wrote: »

GeorgeUK wrote: »

hi softmind

I agree with wayoflife - no point in asking barclays for another card. You can't have more than one CC with the same provider.
Unquote

The above statement is incorrect. I have 2 CC's with Barclaycard. Also have a Sony card and MBNA card. The Sony card is administered by MBNA.

both in ur name? how did u manage that then?

with all due respect I didnt want to confuse him and keep it simple. I wasnt aware that you could have more than one card with a company

gt94sss2

You can normally have more than 1 credit card with the same provider though some companies like Capital One won't allow you to have more than one of their own cards.

However, you cannot normally do a balance transfer between two cards run by the same company.

As such, if you want to transfer your balance somewhere, apply for a card not issued by Barclays.

Regards
Sunil