Is there anything I can do?

mossstitchmama

Not sure this is in the right place so please feel free to move if appropriate.

I have a credit card with a large balance outstanding ( over £8 k).

The interest alone is over £100 a month. I don't work so I don't have any income (my husband pays the bill)

Is there any way I can swap this to a card with an interest free period so we can make inroads to the balance? Last time I tried, I was refused (several years ago).

Thanks

Willing2Learn

Hi, you would need to apply for a Balance Transfer card (with a 0% APR promotional window).

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

Edit: If you are not working, then it is unlikely you will be eligible for any of the better offers. On that basis, I would check eligibility with CapitalOne for their BT card.
https://www.capitalone.co.uk/creditcards/balance-transfer-credit-cards.jsf

BoGoF

Willing2Learn wrote: »

Hi, you would need to apply for a Balance Transfer card (with a 0% APR promotional window).

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

With no income?

Suggest your husband applies for a 0% card and transfers it to himself. Although some cards don't allow transfers between different account holders.....Tesco being one of them I believe.

System

Hi, we transferred the balance of my credit card to my husband's 0% credit card. I had to make him a card holder for my credit card (Lloyds) and then he transferred it to his new 0% card (mbna). If you are able to do this then make sure you close down your old card immediately.

[Deleted User]

pinkdinosaur wrote: »

If you are able to do this then make sure you close down your old card immediately.

Only do this if you are unable to control your spending.

Otherwise keep it and make sure any new spends are cleared in full each month. It will be difficult out to get any new cards and it will maintain some history.

System

You have a VERY understanding husband.

You don't work and racked up more than 8k in debt and got hubby to "fix" it when it got scary.

Major life changes needed.

System

zx81, she clearly can't. If she could she wouldn't have 8k on a credit card. Keeping the old card open would allow her spend another 8k+ on a high interest card.