Credit Card Debt?

itsnever2lateisit?

dmsu86 wrote: »

I will get her to do the questionnaire, but looking at the scenario what are her chances of getting a 0% APR card?

- This card with the debt was her first and only credit card
- £1800 debt left to pay
- Only missed a couple of payments as far as i know
- 22 yrs of age living with parents
- Employed full time on a reasonable salary
- The fact i will pay towards the debt also

What are her chances honestly?

Each Credit Card co scores differently, which is why I suggest using the smart search. The fact that you will contribute will not be considered by any CC Co.

After she has done the smart search dont apply through that site though. Sign up to the likes of quidco and then see if you can get a card via that site, it gives cash back:D

Lizalu

If it will be paid off within a year then the Tesco card should cost you less as it has a lower transfer fee than others, including the Virgin card.
I'd just get your girlfriend to apply online.

Make sure she sets up Direct Debit payments so that a payment is never missed, then pay off the extra on top.

TurnaroundSue

Check with quidco and see if any of the cc companies give you cashback. Also do this for any insurances you wish to purchase (can get large cashback on these) and for any other purchases.

www.quidco.com

dmsu86

TurnaroundSue wrote: »

Check with quidco and see if any of the cc companies give you cashback. Also do this for any insurances you wish to purchase (can get large cashback on these) and for any other purchases.

www.quidco.com

sorry for sounding dumb, but how do they give you cash back on credit card payments? cash back on what????

Lizalu

They don't give you cashback on the payments - but on the application.
I got £20.50 for a post office card, and £41 for a goldfish.

But you have to remember to go for the card with the best 0% deal for you, on the 2.98% fee with virgin you'll pay £53.64 and Tesco 2.5% (£45).

Also, it's worth bearing in mind that cashback is not guaranteed, although quidco is very reliable. Post office offers 20.50 cashback and a fee of 2.75% - (£49.50) for 13 month at 0% so may be the best option for you.

dmsu86

Lizalu wrote: »

They don't give you cashback on the payments - but on the application.
I got £20.50 for a post office card, and £41 for a goldfish.

But you have to remember to go for the card with the best 0% deal for you, on the 2.98% fee with virgin you'll pay £53.64 and Tesco 2.5% (£45).

Also, it's worth bearing in mind that cashback is not guaranteed, although quidco is very reliable. Post office offers 20.50 cashback and a fee of 2.75% - (£49.50) for 13 month at 0% so may be the best option for you.

the post office one, would i have to go through quidco to get that cashback?

Could she apply for the post office one actually in the post office then or do it online etc?

Thanks for everyones help

TurnaroundSue

Sorry didn't explain myself very well. If you register with quidco.com you can purchase loads of things, e.g., credit cards, home insurance, car insurance, general shopping, electrical goods etc. You then go onto the merchants website through quidco and if you purchase whatever you want from them, they then give you cashback for buying from them basically.

We have just had £100 cashback from Churchill for our car insurance. Was £208 for the year, but with cashback effectively it is £108. Go to the website and hopefully that will make things a bit clearer for you.

I have only started using quidco, but I know loads of people had made £100's from buying through them. There are also other cashback sites, greasypalm is another one, not sure of the names of them all, but worth looking at.

So going back to your original question, you don't actually get the cashback on the credit card payments, but cashback on the original purchase. Be careful though that you are buying the right item and not just buying it for the cashback!! i.e., noticed a cc on there with HSBC and you would get £20 cashback, however, not really suitable for your situation as 0% is only on purchases for 12 months and the rate is 2.7% for balance transfers. What you really need to be looking for is a 0% card on balance transfers - so make sure you are getting the right product for your individual needs.

Good luck!

Lizalu

Sorry, that doesn't seem to make much sense - what I mean is, if she gets a Post Office card, she'll have to pay the £49.50 fee, but should get £20.50 back from Quidco, making it the cheapest for her as Tesco Credit Card doesn't seem to offer cashback.

Lizalu

dmsu86 wrote: »

the post office one, would i have to go through quidco to get that cashback?

Could she apply for the post office one actually in the post office then or do it online etc?

Thanks for everyones help

Register for the site, online, then click through their link to the post office site (this is very important) and apply online.

They take a £5 admin fee each year, but if you buy things online a lot this is covered pretty quickly.

TurnaroundSue

Also make sure you clear your cookies BEFORE applying. Apparently this ensures you can track and get your payment. Dont understand the intregacies (sp?) of clearing cookies, but that's what it says on the site.