Advice needed for scrounging postgrad!

yossarian2007

I've tentatively got a job lined up beginning in February after 9 years worth of student financial mismanagement, and could do with some good advice!

The burning issue is £5k on a Nationwide gold card at the standard 18% Apr, that I've not been able to move due to the lack of a regular monthly wage.

Understandably it seems most of these deals rely on you having an income! I'm registered as a part-time postgrad due to prior contract arrangements with the University, which has prevented me getting any form of study, or professional development loan...

Basically I was wondering if anyone knows about any deals available for someone in my position, so I can stem the interest haemorrhage on this card.

Burlesque_Babe

Have you tried phoning the Nationwide and asking what deals are available to you - to keep you as a 'happy' customer and not wanting to move elsewhere?

When I was getting debt free, I called all my CC companies. Some wouldn't budge, but Barclaycard cut the rate from 29.9% to 14.9% and Capital One cut the rate from 29.9% to 12.9%.

It is worth a phonecall - worst they can say is no

Gillianh2

I agree phone "nationwide" and see if they will agree to reduce the interest on the card, for a "loyal customer" if they seem a bit edgy or you think you could push your luck a little, I would push for them to hold the interest until you start your Job in Feb and see how far you go then. With the current Credit Crunch" on you might be lucky. Especially if they see you have a Secure Job lined up and the potential to make more money from you in the future. You know the saying >>>>>>>>>>>>>>>>"If you dont ask you dont get"

yossarian2007

Thanks for the quick reply!

I didn't realise I could negotiate with them... Ideally I'll move the debt to an interest free card in Feb and pay it off as quickly as I can, but If I can slow down the interest in the meantime then that would really help.

For every £150 payment I make, £70 of it disappears in interest! Makes me wonder what on earth I was thinking when I built up the debt in the first place...