Redemption - The journey of a recovering gambling addict.

Lonelygambler

Another week without a gamble. 

This is the only place I can really share this and I’m looking forward to reading back in a few years time. 

Money wise have a lot on for November 

broken the £500 mark. 

Will now wait for my switch bonus to hit my nationwide switch account. 

londoner2019

Those numbers in your signature are seriously impressive.

And congrats on the continued gamble-free stretch. We don't know you personally but we're all proud of you.

mark55man

well said Londoner and seconded

alt80

really good to see you doing so well mate.

Lonelygambler

Evening all - some positive updates for my journey. 

8 Months without a bet.

Attending this charity has been a godsend for me: https://gamfam.org.uk/

Natwest - Credit Card Cleared - This is massive for me. I am pretty pleased with this today. 

Time to snowball my MBNA balance. 

I also have a decision to make about my Tesco Loan. I can money transfer from my Barclaycard CC on 0% for a fee of 3.3% for 18 months. I'm not sure if I should do this.

Purplelady65

That’s excellent news re clearing your credit card and 8 months without a bet! You should be really proud of yourself! 

Re the Tesco loan what is the interest rate? How much would you save in interest by doing a balance transfer? 

Lonelygambler

The tesco loan is I think around 5.1% front loaded interest. 

I have checked and the early settlement figure is £8075.74

Final payment date on the loan is April 2030!

I can easily money transfer this from a BC Credit card with a 3.3% fee £242ish 

Say roughly overall cost of moving to BC Credit Card £8317 

Saving around £900 until I would need to BT again in August 26

If I continued paying £150 a month the balance would be around £5167 when I would need to take another BT

I think this is a sensible option...

kezzygirl

Lonelygambler said:

The tesco loan is I think around 5.1% front loaded interest. 

I have checked and the early settlement figure is £8075.74

Final payment date on the loan is April 2030!

I can easily money transfer this from a BC Credit card with a 3.3% fee £242ish 

Say roughly overall cost of moving to BC Credit Card £8317 

Saving around £900 until I would need to BT again in August 26

If I continued paying £150 a month the balance would be around £5167 when I would need to take another BT

I think this is a sensible option...

Hi lonelygambler, I did the same with a loan. Did a money transfer at 3% and will need to move it again if it isn't paid off by May 26. Cost a little to do this, but saved more in interest. Do it if you can!

FacelessNumber

I'm sure you've checked already but you may be able to get a 0% fee 0% interest for balance transfers, that's what I've been doing!

Congrats on 8 months and clearing one of the cards, 2 massive achievements!

Lonelygambler

Update

- I've requested a money transfer so will be clearing the debt from my loan and sticking on a 0% card for 20 months. 

LG