Advice on credit card repayments

lolly2025

Hi so I am
brand new to this. I have a credit card just short of 3k that I’m paying back minimum payments each month so it’s not going down. On 20th feb I will be paying 27% interest rate. I was wondering if it’s possible to get another card to pay it off; and start again so I’m not paying interest? What can I do 

Brie

If you have a good looking credit history you may be able to get another card and then do a 0% balance transfer.  If the current card has £3k on it you'll been more on the new card - maybe £3300? - because you can only BT about 90-95% of your credit limit.  And there needs to be room to add a fee (might be 4% of the total or similar).

But if you are struggling to pay off one card it may be that another card won't be available or have a deal on it because the bank is going to want to know that you are a good risk and can afford to pay off over £6k.  

The crux of the problem comes down to why are you struggling to make payments?  If you go to the top sticky you'll find a statement of account (SOA) template.  Fill that in with all your financial details and the crowd here will be able to help you find ways to tighten your budget to make paying off the card more affordable.  

CliveOfIndia

As above yes, you can transfer to a 0% BT card in theory.  Whether your application would be accepted, no-one here can hazard a guess.

I'm a little confused about this, though :

lolly2025 said:

I have a credit card just short of 3k that I’m paying back minimum payments each month so it’s not going down.

If you're paying the minimum each month then the balance should be reducing - albeit very slowly.

lolly2025 said:

On 20th feb I will be paying 27% interest rate.

That implies that you're currently on a low or 0% promotional rate, is that correct?  If that's the case then your balance should be reducing - still pretty slowly, but more so than if you're paying the minimum on a standard interest-bearing card.  Or are you spending on it as well?