Pay off £20,000 (ish) by Xmas 2008

penguin83

I am so off target for this so far! But I expected to not be making much inroads this month - have been doing loads of overtime and I am going to have a real cutback the next few months to give me more to pay off! Well done so far everyone. x x

pandapaws

Finally got something to update - paid an extra £200 of our Virgin card today. We actually paid £4k, but £3,800 of it came from overdrafts :rotfl: so I don't think I can count that part! But it's the way the mortgage man wanted to see it, so who are we to argue?

I get paid tomorrow, so thankfully will have something to update in the next few days when all the DDs come out. Seems to be ages between having anything to post on this one!

pandapaws

By the way, it's been mentioned on loads of threads, but anyone who still hasn't got the hang of the free bingo can give me a shout as I've got a full list and instructions on how to do it - it's not much fun but I'm about £160 up for no investment. Drop me your email by PM and I'll forward it.

madmich666

Hi all!!!
Just want your thoughts on something..... I bank with lloyds and have a credit card with them currently at £6K and quite a high interest rate. But Ive opened an A & L account and would rather bank with them and change when I move to my new job next week but when I went into Lloyds the other week the guy in there said that if i closed my bank account or downgraded it then they would put up the interest on my card. And the problem is that I cant get another credit card to transfer the balance. And on the plus side with A & L the savings account is 12% for the first year. So I have worked out that I have 2 options
1. stay with lloyds until my credit card is paid of in a million years time and get hubby to use the A & L account to save for his new motorbike and start paying some bills out of that account or...
2. Change to A & L but transfer £20 into the lloyds account to cover the account fee and start paying off the overdraft and hope that they dont up the interest rate.
Any thoughts would be welcome.

Uniscots97

Nothing else to report from my side but glad to see everyone is doing well!

pandapaws

madmich666 wrote: »

Hi all!!!
Just want your thoughts on something..... I bank with lloyds and have a credit card with them currently at £6K and quite a high interest rate. But Ive opened an A & L account and would rather bank with them and change when I move to my new job next week but when I went into Lloyds the other week the guy in there said that if i closed my bank account or downgraded it then they would put up the interest on my card. And the problem is that I cant get another credit card to transfer the balance. And on the plus side with A & L the savings account is 12% for the first year. So I have worked out that I have 2 options
1. stay with lloyds until my credit card is paid of in a million years time and get hubby to use the A & L account to save for his new motorbike and start paying some bills out of that account or...
2. Change to A & L but transfer £20 into the lloyds account to cover the account fee and start paying off the overdraft and hope that they dont up the interest rate.
Any thoughts would be welcome.

How do they justify increasing the interest on the card? Is it a benefit that goes with the bank account that you get lower intrest? What rate of interest would they increase the interest to? Would that work out at more than £20 a month?

Is there a minimum deposit for the bank account each month? You could transfer all your banking to A&L and keep the Lloyds account open but not actually use it, or just make the min payment in and then withdraw it straight away again.

Is there no chance tha A&L would give you a credit card/loan that you could transfer the balance to so you could get rid of Lloyds altogether?

Sounds really unfair to me, but I hate banks at the moment!

kpey

madmich666 wrote: »

Hi all!!!
Just want your thoughts on something..... I bank with lloyds and have a credit card with them currently at £6K and quite a high interest rate. But Ive opened an A & L account and would rather bank with them and change when I move to my new job next week but when I went into Lloyds the other week the guy in there said that if i closed my bank account or downgraded it then they would put up the interest on my card. And the problem is that I cant get another credit card to transfer the balance. And on the plus side with A & L the savings account is 12% for the first year. So I have worked out that I have 2 options
1. stay with lloyds until my credit card is paid of in a million years time and get hubby to use the A & L account to save for his new motorbike and start paying some bills out of that account or...
2. Change to A & L but transfer £20 into the lloyds account to cover the account fee and start paying off the overdraft and hope that they dont up the interest rate.
Any thoughts would be welcome.

Have you tried tellng Llyods to stuff it you will balance transfer to another card if they do? Call their bluff and see what they say - any interest is good interest to them surely

WendysWorld

FrankieM wrote: »

Hi everybody....
Haven't been around for a while. I've been up to Queensland and watching New Years eve fireworks in Sydney Harbour...
Unfortunately my total has had to take a hit....by £2500....but I have some lovely diamonds to show for it.....DH decided it would be a good time to update my engagement and wedding rings and but an eternity ring...gulp...
They are lovely, but have put my totals back, hopefully will still have some more to add at the end of the month and we are back home in a couple of weeks , so will look at getting a job for a few months to help out...

CongratulationsFrankieM! Always nice to have a few diamonds!:j
Bit hopeless myself this month - went to Morrisson instead of Waitrose like normal (I know, I know but I use the self-scanner to track what I'm spending and I'm REALLY careful!) and I managed to spend more than I normally do - how??? I think I went mad on the cheap deals so wasn't as careful as I assumed it was going to be cheaper than normal:o ....
Also put loads of stuff on ebay after a clear out. Does anyone else find it really tedious putting stuff up?? Then I'll have to package it all up for posting.....I'm a bit lazy....

Anyway, hope next month is better for all of us.

kassytbag

hiya, must update my sig soon but i had to let you all know after watching martin last wednesday night i rang my old building society birmingham midshires about the mortgage exit fee - have had a letter from them today and they are refunding the full £75 i paid - im so pleased to get something back just for the one phone call

martin you are a star:beer:

madmich666

Hi all
Just wanted to say that this may be the last time im able to post on here for a while due to moving at the weekend and I dont know what the new place im working at is like with the internet... Im going to have withdrawal symptoms cos Im sort of addicted to this site my OH thinks im crazy!!!!

If I cant post for a while Im still keeping a record of things in my debt diary and will update sig as and when I can and keep up the good work everyone!!!