Clearing Credit Card debt - Eligibility Calculator
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Suzanna22
Posts: 22 Forumite
in Credit cards
Hey there (sorry for cross-posting)
I need a bit of advice. Just to set the scene, I am single and live alone in London. I work full time and have been actively looking for a part-time job to help with bills, but haven't been successful so far.
The only debt I have is a Barclays credit card, the balance is under £8K and has slowly crept up to this amount over the last few years since moving house. I have just about managed my finances, defaulting once accidentally by paying a little under the minimum and now Barclays have been in contact with me to say I have to pay much more than the minimum - £300+ month.
I am so determined to pay it off hence looking for a part time job, I looked into a loan and 0% credit card in the past but my credit score wasn't high enough. However, I did a quick search today after receiving notification of my score increasing and this is best of the offers I received.
M&S
0% period of 32 months then 19.9%
Transfer fee of £77
0.99% of £7,713
Cost to you £167
Balance repaid in 40 months
CHANCE OF APPROVAL - 6/10
Sainsbury's Bank
0% period of 30 months then 19.95%
Transfer fee of £116
1.5% of £7,713
Cost to you £272
Balance repaid in 40 months
CHANCE OF APPROVAL - 9/10
Halifax
0% period of 34 months then 19.95%
Transfer fee of £232
3% of £7,713
Cost to you £294
Balance repaid in 41 months
CHANCE OF APPROVAL 9/10
Not sure if I should put in an application for M&S because the chance of approval is so low in comparison to the others. Can anyone offer any advice about whether which one I should apply for?
Many thanks in advance
I need a bit of advice. Just to set the scene, I am single and live alone in London. I work full time and have been actively looking for a part-time job to help with bills, but haven't been successful so far.
The only debt I have is a Barclays credit card, the balance is under £8K and has slowly crept up to this amount over the last few years since moving house. I have just about managed my finances, defaulting once accidentally by paying a little under the minimum and now Barclays have been in contact with me to say I have to pay much more than the minimum - £300+ month.
I am so determined to pay it off hence looking for a part time job, I looked into a loan and 0% credit card in the past but my credit score wasn't high enough. However, I did a quick search today after receiving notification of my score increasing and this is best of the offers I received.
M&S
0% period of 32 months then 19.9%
Transfer fee of £77
0.99% of £7,713
Cost to you £167
Balance repaid in 40 months
CHANCE OF APPROVAL - 6/10
Sainsbury's Bank
0% period of 30 months then 19.95%
Transfer fee of £116
1.5% of £7,713
Cost to you £272
Balance repaid in 40 months
CHANCE OF APPROVAL - 9/10
Halifax
0% period of 34 months then 19.95%
Transfer fee of £232
3% of £7,713
Cost to you £294
Balance repaid in 41 months
CHANCE OF APPROVAL 9/10
Not sure if I should put in an application for M&S because the chance of approval is so low in comparison to the others. Can anyone offer any advice about whether which one I should apply for?
Many thanks in advance
0
Comments
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Apply for Sainsbury's and Halifax simultaneously.0
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Your chances haven't improved because your score increased.
Apply as above, but don't be surprised if you don't get the full limit you need0 -
Your chances haven't improved because your score increased.
Apply as above, but don't be surprised if you don't get the full limit you need
Oh, I clearly don't know what I'm talking about...:rotfl: Its just that zero options were available when I did soft applications a few months ago...and then now I have options.0 -
Deleted_User wrote: »Apply for Sainsbury's and Halifax simultaneously.
Oh ok, may I ask why you suggested this? Why simultaneously?0 -
You have a better chance of neither seeing that you have applied elsewhere, depending on when your files are updated.0
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Ok, it makes sense. I’ll let you know how it goes. Thanks for the advice.0
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William_jhon wrote: »Do you have credit card debt that you want to pay off quickly?
SPAM - judging by other posts0
This discussion has been closed.
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