What order would you pay these debts in?
Any help or advice would be appreciated.
I have three credit cards.
HSBC - £1,874.60 (£6,000 credit limit)
21.9%
Halifax - £2,790.38 (£3,400 credit limit)
0% until 05/07/2022
Then 26.66%
Barclaycard - £5,989.18 (£7,400 credit limit)
£3,881.07 - 0% until 01/07/22 then 18.68%
£366.33 - 0% until 01/08/22 then 18.68%
£1,752.78 - 0.5566%
£1,800 of the Barclaycard is stuff I bought on my mums behalf, and she pays £300 off of that a month - which covers the minimum payment and then some for the next six months.
Then, taking into account minimum payments for the other two, I can afford an additional £450.
I currently only have 0% balance transfer offers on Barclaycard (for £670) and Halifax (£371).
I have a £450 payment to make for May and I’m not sure which credit card to focus on.
Comments
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It's much of a muchness really. Since the HSBC is accruing interest right now I'd probably focus on getting that put to bed, then move to the Halifax.1
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I would focus on HSBC too.I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment 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.1
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