Possible return to Barclaycard

Dandytf

Mser's
One overdraft, not in use.
One loan=option soon to pay in full, though not guaranteed, going to work and forget Finances for some time.
@Deleted_User
Don't have latest card details, a few 0% offers. Generous and lower limits, only 618 to pay-Zero Interest.
15$% loan is a decent product which can work well.
prob won't need use from all cards, though can make use of one or two over next year or two.
thanks each reply, appreciated.

MovingForwards

My heart sinks every time you post saying you've taken out more credit.

As I've said before, most people when on a DMP are in no rush to ever take out finance again, aside from a mortgage / remortgage. Not because they don't trust themselves, but because it's been a struggle to become debt free and it's something they never want to experience again.

Reading about various credit cards, a consolidation loan and then more credit cards is already showing you're on a slippery slope, before your current DMP even finishes. You're kidding yourself thinking it's under control and haven't learned.

[Deleted User]

Dandytf said:

Mser's
One overdraft, not in use.
One loan=option soon to pay in full, though not guaranteed, going to work and forget Finances for some time.
@Deleted_User
Don't have latest card details, a few 0% offers. Generous and lower limits, only 618 to pay-Zero Interest.
15$% loan is a decent product which can work well.
prob won't need use from all cards, though can make use of one or two over next year or two.
thanks each reply, appreciated.

It is good that your road to recovery is progressing but I would offer one bit of advice:
Sit down and take 30 minutes to list all your debt and available credit (on the assumption you could, in theory, run every card up to 100%) on a spreadsheet. Look at your incomings and outgoings. Then decide if you can afford to pay off all the credit cards if you ran them up in some emergency situation. If you can't, consider closing 1-2 of the cards with low balances (keep the oldest ones ideally) keeping 2-3 that have good limits and / or advantages like cash back and then you will be in a firm position to decide on how to keep going.

Dandytf

@Deleted_User
Thanks , not re posting via this thread for some time, new job commitments.
Finances are going through some change which will take time.

adamp87

Dandy I think people are just concerned seeing your consolidation and recovery that you may fall back into the red that’s all.

It does feel every time you have a thread it’s to open a new account of credit. However saying that what I find more bizarre is actually that creditors are giving you it, so there’s obviously faith in their systems that you can deal with it on paper anyway.

I do wish you the best of luck but I heed caution myself too for the best reasons.

Dandytf

@adamp87
Barclaycard is my last product during 21'
Nice 0% 3 mths purchases if req. maybe Car upkeep.
Surprise 6.9% balance t/fer until 31st March, not going to use, I only have 618 on rbs zero interest .so no need to split over to BC
I did post my initial Genuine Amazement of Jan 21 when mainstream credit products started to be accepted again.
Maybe I applied too early with Lendable loan@15%
though very happy with these terms across 3.5 years.
Every other card is Cleared, only Tesco for Groceries.
Good luck message appreciated! 

Dandytf

@Deleted_User
Thanks, I'll need a  few days or calculations are going to be next week at the earliest.
Not sure I'll find your suggestions Motivating, though no harm I'm sure.
Maybe Tesco card wont survive, I have started using New Day Amazon for online small spends, to be paid in Full.
Appreciate your excellent response, appreciated.

[Deleted User]

Dandytf said:

@Deleted_User
Thanks, I'll need a  few days or calculations are going to be next week at the earliest.
Not sure I'll find your suggestions Motivating, though no harm I'm sure.
Maybe Tesco card wont survive, I have started using New Day Amazon for online small spends, to be paid in Full.
Appreciate your excellent response, appreciated.

I don't know about motivating but I bunged all mine into a spreadsheet for a couple of months and it allowed me to tweak how much I could put into savings and still cover all the outgoings. I will look at them again in April after my biggest one ends and I may run it down to just having 1 regular saver until September and then decide. Main motivation is a new bike for my birthday and getting a card limit increase so I can pay in one go on the card then BT it over!

Dandytf

Good luck @Deleted_User
I could try a spreadsheet, though continue to use mser Budget excell.

ste_coxy

Defaults drop off people's records after 6yrs, so most companies, as far as I'm aware, will allow you to have credit with them again after this time. 

In relation to how best to manage your finances - rather than a spreadsheet, why not use the likes of www.moneydashboard.com or download apps like Emma, Lumio, Yolt etc. These are great as they allow you to see all of your accounts in one place - including all of your transactions, which get categorised to help you see where you're spending and to help budget better. Also, the credit reference apps such as Clear Score, Credit Karma, Experian, Totally Money etc allow you to keep across your accounts too.