advice please

blueye

hi can i have your thoughts please

my oh has £5275 on halifax card the limit is £5250, so he is over the limit again despite not spending on it and paying £130 a month off it, the interest and over limit fees are just canceling the payments out.
what are the chances of getting them to hold the interest for say six months so he can get the balance down? and what is the best way to go about this

Poosmate

Hi Blueye and welcome to DFW.

I know this is probably not quite the right answer but could your other half ask them to raise the credit limit to £5500 or even £5300. I know it's unconventional but at least it would maybe stop the over limit fees?

Or the only other way is to check the statement online if you can and make sure there is enough funds in there to absorb the interest. That's what I've done in the past to ensure no bank charges. Your current statement will show what interest and charges are due to be put onto the account and when. If he's not using the card then it shouldn't be too hard to keep an eye on it.

I just think they are more inclined to up the credit limit by a couple of hundred than freeze the interest.

Just a couple of suggestions.

Poo

blueye

lol i should have also said he has alot of other cards that are maxed out too, i just recently took out some cards myself so i could move his debt to 0% so we can try and sort this mess out no-one wants to give him credit. i did have a plan to move the debt around but barclaycard didnt allow a balance transfer for him after i cleared that card for him so its left us a bit stuck

in2deep_2

I have been over my limit once with Halifax and the next month they put up the limit without me asking.

Also a while ago i emailed them via there 'secure message service'(is it still going.?) and said something along the lines of, as I've been on the standard rate for some time would it be possible to have a lower rate for a short time.....Please..... i got 6 months at 0% on my current balance...!!!

Poosmate

Hmmm. That wouldn't have been too bad with only one BT fee (if applicable on the Barclays one). Could you move something from another of his cards to the 0% card then move some of the Halifax balance to the one he's just transferred from?

Has he tried asking for just a little bit of extra breathing space? I mean surely it's in their interest that he pays off the debt and not just their charges forevermore!

Poo

blueye

0% card is maxed out its a card i got to clear barclaycard so he could then transfer halifax to barclaycard, but bc have refused to transfer the balance so stuck now. halifax have upped the limit from, i think 3k to 5.25k in the last 6months i fear if they up the limit again the money will just be spent again i dont realy want him to have spare credit, the bcard already has £300 spent on it, taken and hiden it now