Re: Typical bank loans...

"Hank" <Hank77@xxxxxxxx> wrote in message
news:u83o03henqvjae18ot9og0utscjc7pmonq@xxxxxxxxxx
On Thu, 29 Mar 2007 13:39:12 GMT, "MrCheerful" <nbkm57@xxxxxxxxxxx>
wrote:

first do any zero percent balance transfers if possible. abbey charge 7.9
percent so that is a pretty common sort of value, see if you can nudge
your
bank to that. the least hassle is nice, but not cheapest usually. the
fixed payment with an end in sight is a good thing I have found. look to
the shortest possible time scale 18months 10000 is 880 a month.

Yes, I always do that when possible. Trouble is, this is usually only
available to newly-opened card accounts, and I have already exploited
that to the max; I don't think there are any card-issuers left that I
don't already have cards with who would give me much credit. My credit
rating isprobably not that good since I lost my steady job, I have
only been paying the minimum payment on all my cards each month.

I owe about £50,000 on cards. A good portion of that is on a good
rate, such as 5.9% for the life of the balance. But about £10,000 is
on higher rate cards. One of them will go up from 3.9% to 27% if I
don't pay it off by May. I often juggling of balances to take
advantage of balance transfer rate offers, but card companies
typically charge a 3% service charge on balance transfers now.


I hope you`re doing your sums correctly to check that you`re saving money by
transferring the balance, that 3% can make a VERY big difference to whether
it`s a good idea to do it or not.

Do you own a house, or have any other significant assetts?

--
Items on ebay:
http://search.ebay.co.uk/_W0QQsassZscousesifinQQhtZ-1


.

Loading