Cheap Credit Card Loans Discussion Area

urbanviking

Hi all, I hope this is the right place to ask as I am quite new to this forum. I'm currently right at the end of my £2500 overdraft and have been for a number of years now, I'm doing everything I can to reduce the costs of everyday living but am now at the point where my income only just breaks even with my outgoings if I'm lucky, part of the problem is the interest and charges I'm accruing whilst so deep into my overdraft (usually between £30-50 monthly). I am looking at some of the advertised interest rates on these cards with 0% rates and thinking that I could be better off by transferring the balance from the card to the overdraft and repaying a fixed amount a month until the introductory rate ends then just swapping cards to another 0% card until I repay the debt off, can anyone tell me if this is possible and what are the pitfalls/in's and out's of it all please?
Thanks

DevCoder

Only a really good credit score (and thats internal, not experian scoring etc) will get 0%

And getting more credit to work your way out of credit virtually never works.

I suggest popping over to the DFW (Debt Free Wannabe) section and posting a SoA (Statement of Affairs) for some good advice.

urbanviking

I shall head over there shortly and make a post regarding my situation. Thanks very much for the advice

nick_acca

Hi guys, im new to this forum and to get a personal loan as well... so i need some help from you guys.... i need some quit a lot of money so i feel like i can take too much loan from a bank so is it possible to take loan from two different bank at same time or am i not allowed to do that... please give me some advice.... many thanks

jill729

I only have £1,000 in this year's ISA. Is it possible to get enough 'free' money to top this up?

vaytructuyen

Oh well, onwards to normal loans.

john_Rockie

I am confused.
If you take out or try to take out secured loan and have a mortgage them surely your existing mortgage lender has got to have a say in this.

In my view a mortgage is a secured loan based upon part or all of a property. If you are going to take out loans that give other parties a claim on the principal asset then you are inviting a conflict if a disaster should happen.

mistygrant

You have to aware using credit cards..

serry

Seeing as though scenarios such as this stay on the credit report for so long, will I find it hard to get a good APR rate loan for the near future?

dpase

Can anyone help....

I have a loan of £4000 payable over 48 months, with monthly payments of £188. This means that I will be paying around £9000 at the end. I intend to pay this off asap and alot sooner.

I was thinking of getting a credit card with 0% interest and transferring this loan. Is this possible? and can anyone suggest the best way of doing this please?

Many thanks,

D