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Which one would you tackle first!?
BlueJ94
Posts: 3,166 Ambassador
I have two credit cards as below.
Marbles £1200 APR 49.9% (I spoke to them and asked them if this is correct which it is)
Vanquis £745 APR 3.99% PM
Im wondering if snowballing would be easier or not.
Marbles £1200 APR 49.9% (I spoke to them and asked them if this is correct which it is)
Vanquis £745 APR 3.99% PM
Im wondering if snowballing would be easier or not.
I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe boards and spending & discounts boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
Debt owed;
Debt owed;
Admiral - £0/£8000
DFW Challenges!
PAD #
365 Day 1p Challenge 2026 #8 £31.65
Pay off all your debts by Christmas 2026! #14 £74.77/£8000
Make £2026 in 2026! £390.05/£2026
Savings goal £91.50/£1000
PAD #
365 Day 1p Challenge 2026 #8 £31.65
Pay off all your debts by Christmas 2026! #14 £74.77/£8000
Make £2026 in 2026! £390.05/£2026
Savings goal £91.50/£1000
0
Comments
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using this tool
https://www.moneysavingexpert.com/banking/interest-rates/#calc
I can see the Vanquis card with the 3.99% monthly interest gives you 59.92% APR. Assuming that's what you meant by "3.99%PM", so that's not APR because APR stands for Annual Percentage Rate.
If I misinterpreted what you wrote, I apologise.
In any case I would absolutely throw everything at the higher APR one first as you'll be paying more interest on the one with the higher APR. IYSWIM.just in case you need to know:
HWTHMBO - He Who Thinks He Must Be Obeyed (gained a promotion, we got Civil Partnered Thank you Steinfeld and Keidan)
DS#1 - my twenty-five-year old son
DS#2 - my twenty -one son0 -
Thank you! Yes that's what I meant thanks for working it out for me
I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe boards and spending & discounts boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
Debt owed;Admiral - £0/£8000
DFW Challenges!
PAD #
365 Day 1p Challenge 2026 #8 £31.65
Pay off all your debts by Christmas 2026! #14 £74.77/£8000
Make £2026 in 2026! £390.05/£2026
Savings goal £91.50/£10000
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