Consolidated -Almost-Cancel All Cards or keep one.

Dandytf

https://forums.moneysavingexpert.com/discussion/6231403/99-consolodated-lendable
This explains what loan product I've been accepted today by Lendable,
Should I close every card -ranging from Tesco Bank 27%apr up to Aqua high 30's  or possibly 40's%apr range.
Until I work though next 3.6 years i.e loanTerm+Car finance completion, I honestly have No concerns about keeping Higher Card Limits.
Tesco is 3rd lowest Limit -600 pounds/27%apr.
I'de rather keep this and maybe I'll get other low rate cards over next few years.

[Deleted User]

Keep three or four and use them at least occasionally, clearing in full each month.

If any have any particular benefits, such as free forex, keep those as well.

Dandytf

Deleted_User said:

Keep three or four and use them at least occasionally, clearing in full each month.

If any have any particular benefits, such as free forex, keep those as well.

Thanks No Perks as yet.
Vanquish Chrome seem to be very generous as raised limit to 4250 during 2020.
I want to avoid building up considerable balances over a number of years, which I have been doing unintentionally. 
As I'de like future low rate apr card possibly 0% -am I going to have to allow until 2022 after dmp ends this year, and to allow todays loan to take effect on Rating.
t.i.a.

eskbanker

....and remember not to keep pointlessly spaffing money on investment fees, especially when in debt!

https://forums.moneysavingexpert.com/discussion/comment/77926493/#Comment_77926493

[Deleted User]

Dandytf said:

Deleted_User said:

Keep three or four and use them at least occasionally, clearing in full each month.

If any have any particular benefits, such as free forex, keep those as well.

As I'de like future low rate apr card possibly 0% -am I going to have to allow until 2022 after dump ends this year, and to allow todays loan to take effect on Rating.
t.i.a.

A dump? Do you mean a DMP? Lenders will be assessing you on your history and risk. A DMP will obviously cause issues, so don't compound them by closing other lines of credit unless you have spending control problems.

Your loan will impact your affordability until cleared.

Dandytf

To Add -though I haven't gone into Balances details etc, I plan to Call Cap1 and ask they combine both of theirs which I had done successfully with previous Luma card.
Finally I'll clear Aqua from Persistent debt rules and keep one of two of their cards.
I'll decide over weekend what to keep and how I can make use of them for one or two repayable items.
Thankfully I've achieved 'Saving'   165 pounds per month compared to current Cards DD totals.

Dandytf

eskbanker said:

....and remember not to keep pointlessly spaffing money on investment fees, especially when in debt!

https://forums.moneysavingexpert.com/discussion/comment/77926493/#Comment_77926493

Continuing to use HL watchlist maybe tgp.l will be taken over-maybe not, that stock is doing better than I thought, excluding Purchase Fees.
Hold fire- I had already committed 3rd 25 pounds monthly to S+S Isa- vt Gravis due to be added from Feb.
I take mser's point, got my 1st shot at single stock purchases. I plan to continue with employers sharesave and HL S+S Isa- though mainly Managed funds, I'll re decide after year 1 which is mid 21' and check if I get to invest another 25 pounds from 75-100 monthly max.
thanks mser's advice not always used though appreciated.

sammyjammy

Consolidation rarely works, when you convince yourselves you need to keep credit cards before the money is even in your bank it seems even more unlikely to be a success, I haven't checked your post history but will probably be worth your time to post on debt free wannabe board for further advice

Dandytf

sammyjammy said:

Consolidation rarely works.

Thanks maybe re visit my original plan and close every card.

born_again

If it is truly a consolidation loan to pay off the credit cards. I would fully expect the loan co to have sent payments to pay the cards off and expect proof that they are shut down.
Not rely on you to make the payments.
I would just shut all the cards down to remove any temptation to use them and end up in a even worse situation than you are now.

Dandytf

This is taking much more time than I considered.
2 card balances 'paid' last night, yet pending status via digi banking.
Once debited, these 2 can make up almost 150 loan repayment due last days Jan'
A few days more to distribute to other balances.
Maybe I could 'top up' help2save with a few hundred.
Until next year when hopefully I qualify one simple low rate card.
Not convinced I'll manage repayment In Full each month.
Maybe I'll allow longer repayment term for each larger purchases, though one at a time, until each separate balance is re paid.
Thanks mser's