One day I will be debt free...

Sarahwithlove

I think you have done the right thing keeping it open as long as you can trust yourself not to use the cards. Maybe cut them up? Hopefully it will go back up next month. Good luck 

creditcardchaos

I’ve noticed my biggest credit card (HSBC) hasn’t been updated on my credit report (clear score) since March! Is that normal? Is there anyway to chase it up? The balance shows as £6,800 or something but it’s actually only £6,075 right now. 

Sarahwithlove

Yes clearscore themselves says it can take 8 weeks to show changes. Mine is never the same on reality as it is to my credit score 

creditcardchaos

I’ve managed to put some extra money towards the cards this month - YAY! Always feels soooo good. Updated totals are ...
MBNA - £0 / £1,900
Vanquis - £0 / £1,000
Fluid - £900 / £1,100
BOS - £2,900 / £4,200
BC - £3,350 / £4,050
HSBC - £5,600 / £7,000
= £12,750 / £19,250 = ? %

UNDER £13k - wwwoooooo!! Interest still to go on a couple so maybe another £100 or so to add on but pleased with that. 

creditcardchaos

My interest has been added to BOS card but the statement hasn’t generated yet. It’s over £10 more than I expected and I can’t figure out why. Last month’s statement the interest rate was 1.931%. My balance is £2,800 so should have been £54.07 but I’ve been charged £64.85 which is approx 2.3%! Has anyone else’s interest rate increases this month? Getting my HSBC balance down to £5,600 meant the interest was £88 with them this month. I’m trying to work on that balance first to lower the interest before I focus on clearing the BOS one. Barclaycard interest was £50. So frustrating that I’m still not able to get a 0% transfer. 

Equifax report gives me a credit score of 433 and utilisation rate of 62%. The balances haven’t refreshed to show the extra £1000 that I had taken off them yet so hopefully that will make a little difference too. 

Bizzywizard

Hi,
It might be worth giving the CC company a ring and ask about what rate you are now on, as it looks like their T&Cs have changed.
You have an EF of £1875 (which won't me making much interest at the moment), so could pay off your far larger interest incurring MBNA CC (this is the card that had my DH by the balls!), then chop it up! Never use it again. Martin Lewis has a post on the main site about using your EF fund to pay off interest incurring debt, unless the debt is on 0% CC its well worth a read. 

creditcardchaos

So with everything that’s been going on and being furloughed I’m not doing well with my cards Have had to use the Barclaycard one a few times and also dip in to savings. 

On 30th May my total was £12,750 and it’s now £115 more rather than any lower  ...

MBNA - £0 / £1,900

Vanquis - £0 / £1,000
Fluid - £800 / £1,100
BOS - £2,700 / £4,200
BC - £3,900 / £4,050
HSBC - £5,465 / £7,000
= £12,865 / £19,250 = ? %

Savings have £1,800 which I can’t even access now until September without losing interest. 

creditcardchaos

I have FINALLY been accepted for a 16 month BT offer card, they haven’t yet confirmed the credit limit but I was pre approved so at least there will be something. 

I wonder if anyone can give advice on which card to transfer from? HSBC is costing £79 per month interest so I have been making the highest payments to that card although the interest rate on BOS is higher the interest is £54 because the Balance is lower. 

I would like to lower the HSBC interest amount but I’d also quite like to just clear the BOS card if I get a high enough limit so that way it’s one less card rather than one more to make a payment to and I can keep throwing the highest amount at HSBC?

i would appreciate any advice. Thanks x

Sarahwithlove

If be tempted to transfer barclays as higher interest rate. However offers are usually based on utilisation. So are either close to or above 50% usage of credit limit on the cards? As if so clear some more from that one to try and bring it under. Although remember credit ratings are usually behind on payments so may take a couple months to catch up 

creditcardchaos

So annoyed as after virgin saying I was pre approved for the balance transfer card they’ve now rejected the application! I have complained as I am worried that will now Negatively affect my report having been refused.