Please help its all confusing to me

tweetyshells

Is another cc with a 0% on balance transfers our best option?

OH has a £2700 just under on his current cc, he stupidly took cash out on this card a few times so it paying stupid amounts of interest.

Am i right in thinking the virgin cc would be a good option with the 2.98 % on bt being less than £100 still way better than what we have atm?

Bokkens

If the interest you are paying is too high then you are right to try and move it to a 0% card or to a "life of balance" card(you pay a lower rate of interest until the debt is paid off)
Virgin maybe what you want is it what you need look at other cards via Martin's links to see which is best for you.
0% for as long as possible and a card with the lowest BT fee(2%?virgin is 2.98%)is what I would suggest.
Don't forget to apply for another card when the 0% period ends and shift the debt to it if you haven't paid all the debt off.
Good luck.
Don't use the new one to withdrawl cash.

tweetyshells

Oh he wont be the card will be going in the bin as soon as it arrives, same place the last one went!

Bokkens

Okay ,
Remember to read this site often and try not to get caught out and end up paying interest on anything especially loans/debts try to pay them off as soon as you can.
Good luck with your BT

tweetyshells

Thankyou we are finally trying to be sensible and do what is best now and we are trying to pay it off. It's hard though as so much is being eaten by interest only about £20pm seems to be getting paid off!

Next to sort is the loan!

Bokkens

Make minimum payments on the lower interest loans and cards if you can then throw any /all remaing cash at the highest interest card when that is paid off do the same with the next debt very quickly you will see the balance coming down .
stick with it.
In a years or so all your cash will be yours to spend instead of the banks just think about that to keep you going.