Paying off Next Account

Sue1975baker

I'm looking for suggestions on the best way to pay off, completely, my Next account and close it down, it currently stands at £3700.

born_again

You can't use a CC for a balance transfer. So if looking for a CC you need one with a Money Transfer offer which allows transfer to your bank account & then pay next from your bank account.

RBYHS

born_again said:

You can't use a CC for a balance transfer. So if looking for a CC you need one with a Money Transfer offer which allows transfer to your bank account & then pay next from your bank account.

How about a purchase credit card?

grumbler

RBYHS said:

born_again said:

You can't use a CC for a balance transfer. So if looking for a CC you need one with a Money Transfer offer which allows transfer to your bank account & then pay next from your bank account.

How about a purchase credit card?

I think it's even better because for a money transfer you usually pay some fee.

For the OP -

• Best 0% credit cards

WillPS

born_again said:

You can't use a CC for a balance transfer. So if looking for a CC you need one with a Money Transfer offer which allows transfer to your bank account & then pay next from your bank account.

You can use a purchase credit card to buy Next gift cards which you can use to clear your account.

You could also use an existing credit card to do the same then balance transfer.

grumbler

WillPS said:

born_again said:

You can't use a CC for a balance transfer. So if looking for a CC you need one with a Money Transfer offer which allows transfer to your bank account & then pay next from your bank account.

You can use a purchase credit card to buy Next gift cards which you can use to clear your account.

https://zendesk.next.co.uk/hc/en-gb/articles/4408921074065-Ways-to-Pay

• Log in to My Account...
• Select ‘payments’ from the menu on the left-hand side.
• Choose your preferred method of payment.

We accept all major credit and debit cards such as Visa, Visa Electron, MasterCard, Maestro and American Express. The card must be registered to the address where your Next Account is held.

[Deleted User]

As above, a money transfer card would be best, you will likely pay a fee and no guarantees you get a limit big enough for this but at least will allow you to clear some and lower interest

Ebe_Scrooge

Deleted_User said:

As above, a money transfer card would be best, you will likely pay a fee and no guarantees you get a limit big enough for this but at least will allow you to clear some and lower interest

I'm afraid I have to disagree with you here.  As per the link posted by @grumbler , their website says you can pay by ordinary credit card.  That being the case, why would you choose to use a MT card and pay the associated fee?  Just use an ordinary credit card and have done with it.

Of course, this doesn't get rid of the debt, merely moves it from one place to another.  The "best" way to pay it off (as per the original question) is simply to use cash, cheque or online banking.  I'm not entirely sure why a credit card was suggested, to be honest.  But if it suits the OP for whatever reason, then that option is available to them.

born_again

What you may find paying via a CC is that it is charged as a cash purchase. Thus incurring charges & interest from day one.

[Deleted User]

Ebe_Scrooge said:

Deleted_User said:

As above, a money transfer card would be best, you will likely pay a fee and no guarantees you get a limit big enough for this but at least will allow you to clear some and lower interest

I'm afraid I have to disagree with you here.  As per the link posted by @grumbler , their website says you can pay by ordinary credit card.  That being the case, why would you choose to use a MT card and pay the associated fee?  Just use an ordinary credit card and have done with it.

Of course, this doesn't get rid of the debt, merely moves it from one place to another.  The "best" way to pay it off (as per the original question) is simply to use cash, cheque or online banking.  I'm not entirely sure why a credit card was suggested, to be honest.  But if it suits the OP for whatever reason, then that option is available to them.

My reading of it was that the OP was struggling to pay it hence the MT option, not disagreeing with you

eskbanker

Sue1975baker said:

I'm looking for suggestions on the best way to pay off, completely, my Next account and close it down, it currently stands at £3700.

If, as above, your question is effectively how to refinance a store card balance by taking on debt in another form, then much will depend on your credit status, i.e. your options may be constrained by how likely you are to secure more debt, especially at decent rates.

https://www.moneysavingexpert.com/loans/check-free-credit-report/ will let you see what your credit files look like.

https://www.moneysavingexpert.com/eligibility/credit-cards/search/ will give an indication of how likely a credit card would be.