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Credit card to a loan?
I have around £5,700 on my Barclaycard and am only making the minimum payments or just a little more and extra if I can. I have a loan with Cahoot of £7,700 on a flexible loan which I pay a little more than the miniumum amount each month, that loan had been down to £5,700 but I topped it up to pay 2k off the Barclaycard. So I am in a dilemma, should I try and take out another loan to clear the Barclaycard? Had thought about approaching cahoot with a mind to clearing both the debts with one new flexible loan!
I have actually cut up my Barclaycard so cannot use it, the best decision I've taken in 3 years.
Any ideas would be appreciated.
I have actually cut up my Barclaycard so cannot use it, the best decision I've taken in 3 years.
Any ideas would be appreciated.
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Comments
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What's your credit rating like?
How about applying for eg. a Halifax 0% for 9 months credit card and transfering the balance from your Barclaycard......pay off what you can (without any interest!) and then six weeks before the nine months is up, apply and transfer the balance to a new 0% card?
Just a thought.....it's cheaper than a loan!
BTW....check out the credit card boards before you go down this option....you MUSTN'T spend on any card where you are 0% balance transferring, or you will accrue interest.....which defeats the object!"One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
Because by then you've blown your chances. That's it."0 -
Thanks for that, not sure about my credit rating as I have a credit card with Capital One which I use for my business and that has about 7k on it, naturally I am a little worried that if I apply for another card I will get turned down and so effect my credit rating. The card I use for the business will become redundant soon as I will have an account with this supplier, it's possible I may just have to wait for a month or so and then look at a new card and do balance transfer.
My own fault for not being able to keep my card in my purse!0
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