99% Consolodated-Lendable.

Dandytf

Taking into consideration, Credit Cards repayments/timescales.
I've today been accepted by Lendable Loans 14.64%.
Though I have worked towards lowering CC debt from 8.7k to 5.6k.
Various cards were scheduled to be cleared over 3 years approx.
Today's loan means I'll re pay 5k approx off balances -with 600 to repay myself.
I wanted 36 mths though quote came through with 42 months, I had second thoughts about 5.6k as it meant 48 months.
Hopefully I close 90% of cards and maybe in a year or two get accepted for a  decent low rate apr card.

Dandytf

Eligible to top up from 10/21.

[Deleted User]

The APR on cards is irrelevant if you pay off in full every month by the way - something that also makes you look good to lenders for future risk e.g. mortgage

finalfantasist

But you just got accepted for the RBS card, so if this loan was to pay off your cards and the RBS card is to pay off your cards, something doesn't add up.

And you're already talking about topping up the loan?

Dandytf

finalfantasist said:

But you just got accepted for the RBS card, so if this loan was to pay off your cards and the RBS card is to pay off your cards, something doesn't add up.

And you're already talking about topping up the loan?

No I only mentioned Lendable offer a top up option.
Not that I intend to borrow any more from there next three years.

Dandytf

Deleted_User said:

The APR on cards is irrelevant if you pay off in full every month by the way - something that also makes you look good to lenders for future risk e.g. mortgage

Maybe irrelevant, though haven't card apr's increased considerably in recent years.

[Deleted User]

Dandytf said:

Deleted_User said:

The APR on cards is irrelevant if you pay off in full every month by the way - something that also makes you look good to lenders for future risk e.g. mortgage

Maybe irrelevant, though haven't card apr's increased considerably in recent years.

Your APR could be 3000%, if you pay off in full every month you wouldn't pay a penny in interest. APR is only an issue if you are leaving a balance on the card

Dandytf

Deleted_User said:

Dandytf said:

Deleted_User said:

The APR on cards is irrelevant if you pay off in full every month by the way - something that also makes you look good to lenders for future risk e.g. mortgage

Maybe irrelevant, though haven't card apr's increased considerably in recent years.

Your APR could be 3000%, if you pay off in full every month you wouldn't pay a penny in interest. APR is only an issue if you are leaving a balance on the card

I don't mind paying some interest, just need to limit my spending sometimes, and repay much faster, I use home and car stuff on cards, some of which can be in hundreds, though not always able to repay from next requested payment.

[Deleted User]

In your situation, it's not ideal but the damage is already done - get into the habit of paying off in full every month as you work to rebuild your credit history

Dandytf

Testing pay in full with Groceries and maybe Fuel using Tesco Card.
Is Pay In Full only After Statement and Payment Dates are due.
Thought I'll start today, though can re pay todays shopping any time.
unless I change DD from Min 25 to Full Balance,. Which I'de rather avoid if I use it in unexpected car or home Costs.
Not planning any spending via rbs though only purchases in 3 months max qualify 0%.
Think I could Manage  home essentials and re pay within 3 payments.
I could also transfer what is left after 5 months 600 pounds on Aqua across to rbs to allow 0% continue for a few months.
Either way I'm not yet using help2save savings,

[Deleted User]

You pay in full once statement is produced, generally best by direct debit to ensure payment is made. If you pay before statement is made it appears you are not spending on the card