Cheap Credit Card Loans Discussion Area

rider543

hi i just would like to get some info im thinkink on taking an unsecured loan for 14000 if i can get it but what if i loose my job and i cant pay it back what can i do then i dont know too much about it , i have to go bankrupt or there is other ways to go when you on benefit if i loose my job

homebrl

oh welcome man.

dia343

It can be found that you can do a a cash transfer at 0% on a Virgin MBNA card to to pay off any overdraft which you have upto $2000 (I suppose), but I couldn't see the logic of that. The thing which one shall think is, will they allow me two separate balances or if I will have to pay off the highest interest debt before the other one.

jimonlyone

2 years back i took a loan of 3000 pounds on my credit card and still i am paying that.. i don't know how they calculate the interest rate, my mistake was i only missed the payment thrice and amount capitulated.. god save me.

daniel081

Cheap credit card loan?never seen a credit card loan in my life i am glad to be part of this forum,thanks.this is a lot of info about it.

market1

I also wants loan , but don't know the procedure, how i would get it??

Garbs_2

Hi there, new member here, hope you can advise me if the homework I've done is correct and is a good idea....or I'm wide of the mark and have got it completely wrong!
I have no credit cards or loans but am looking to borrow approx £7500.
I have seen virgin do the money transfer at 0% for 20 months with a 4% fee.
Virgin have given the ok to this with a credit limit of £3,300.
I have also been approved my MBNA for another card with the same limit but with a fee of 2.5%.
So if I was to 'max' these cards out and only pay the minimum payment each month, I'd only have to pay approximately £60 per month.
Please note, I would pay more than the minimum 1% each month.
Then at the end of the 20 months, I would simply consolidate both cards onto a 0% balance transfer for the longest period available.
Does this sound ok? Am I missing anything?
Many thanks for any help and advice.

alandimi

I currently have a Barclay card with 0% until November 2012 which I pay off £30 per month and currently stands at about £650. I don't spend on it. I also have a graduate account with lloyds tsb which is now charging me interest on my overdraft which currently stands at £1450. I pay £30 a month into this account but I am being charged at least £20 a month in interest and fees (don't have exact details to hand). I don't use this account for spending

My question is: what is my best option and what is it going to cost me?. Is it worth doing a 'money transfer card' for my overdraft and the rest of my Barclay card ( total approx £2100) or do I do a loan for £1500 for the overdraft and just switch my Barclay card to another 0% offer.

Desperate to pay off this debt as its costing me a fortune.

Any advice gratefully received. Thanks

bsisonu

alandimi wrote: »

I currently have a Barclay card with 0% until November 2012 which I pay off £30 per month and currently stands at about £650. I don't spend on it. I also have a graduate account with lloyds tsb which is now charging me interest on my overdraft which currently stands at £1450. I pay £30 a month into this account but I am being charged at least £20 a month in interest and fees (don't have exact details to hand). I don't use this account for spending

My question is: what is my best option and what is it going to cost me?. Is it worth doing a 'money transfer card' for my overdraft and the rest of my Barclay card ( total approx £2100) or do I do a loan for £1500 for the overdraft and just switch my Barclay card to another 0% offer.

Desperate to pay off this debt as its costing me a fortune.

Any advice gratefully received. Thanks

According to my mental approach, you should just switch your braclay card to another 0% offer.:)

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Pauleb80

Hi, I'm thinking of doing this to reduce how much I pay off a loan I took out with Santander a couple of years ago (£10k at 12% interest). I figure if I can get a lifetime balance transfer card at around 6 -7% interest then it should be better in the long term to transfer the loan over to that.

My question is, what credit limit do these balance transfer cards tend to have on them? Presumably not as much as £10k?