Active discussions

Please or to access all these features

Talk
AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To ask you to please help me sort this financial mess!!

61 replies

MoneyMare · 29/11/2025 19:32

DH and I have two credit cards. One is on 0% and has a balance of £3040. The other card has is not on 0% and has a balance of £3228.

We have been paying as much as possible off the one that isn’t 0%, each month, to minimise the interest payment and have just paid the minimum on the other. I have just realised the 0% runs out mid December and am afraid we are going to get hammered in interest. DH is refusing to apply for another 0% card and do a balance transfer, as he is sick of having credit cards. I get it, but it’s going to cost us loads if we don’t. I can’t get as good a deal as my earnings are a lot lower than DH’s (I’m working on that).

We currently have £4,000 in our current account, but have about £1,500 of bills to come out of that. We have other financial commitments as well as this, this is just the direct debits.

What should we do? Please help.

OP posts:
GentleOlive · 29/11/2025 19:47

Is he stupid? Like dense? He doesn’t want to apply for another interest free card and pay upto 30% interest on this balance?

ImDuranDuran · 29/11/2025 19:40

MoneyMare · 29/11/2025 19:37

He just wants to get rid of these cards and get on with our lives, without debt. Which I understand. Especially since we seem to always have this debt following us around. I think he’s just snapped and thinks we haven’t done enough to be rid of this; and he’s right.

Ok and what solution is he offering?

ScaryM0nster · 29/11/2025 19:38

Sounds like you need to sit down and have a grown up conversation about how you’re managing debt in the household, and forward plan to manage the remaining debt.

Taking a debt that you’re struggling to pay down and letting it switch from 0% interest to 27% interest is madness if you have literally any other options available to you.

Can see why no more credit cards appeals, but that should probably be applied to spending on credit cards rather than them as a way of getting credit until the balance is cleared.

If either of you can get a 0% balance transfer then that’s probably the cheapest option. Transfer the balance, cut the card up so it’s never used, and focus on clearing your debt before the zero interest window expires.

If cant get a zero percent balance transfer then look for a sensible loan to cover it and pay down the loan. Christian’s against poverty, step change ane citizens advice all go good quality, free debt advice.

Original poster
MoneyMare · 29/11/2025 19:37

He just wants to get rid of these cards and get on with our lives, without debt. Which I understand. Especially since we seem to always have this debt following us around. I think he’s just snapped and thinks we haven’t done enough to be rid of this; and he’s right.

OP posts:
Woliverine · 29/11/2025 19:37

You need to do a balance transfer on to another card with a 0% rate. There will be a small fee to transfer which will be added to the balance. Then work out how much you need to pay each month to have it all paid off before the 0% term ends.
Secondly, work out how this situation has happened and see if you need to make any changes to you spending/outgoings to ensure you’re not building up the debt again.

Erin1975 · 29/11/2025 19:37

Apply for a personal loan for £5000 to be repaid over 12 or 24 months (whatever you can afford). Go on one of those comparison websites like Compare The Market and see what the best offer you can get is.

Whatever it is the interest rate is guaranteed to be lower than the credit cards will charge you.

Then pay off both cards, cancel them and pay down the loan as fast as you can.

Lookingforthejoy · 29/11/2025 19:37

Ask DH what his suggestion is for how you deal with it?

Shoutygouty · 29/11/2025 19:37

if dh does want credit cards then the next o interest one could be the last. At 20% plus interest you will otherwise have the cards for longer. A flexible repayment consolidation load could be better (if you can get one) if he won’t be sensible. Then get rid of those cards ( just keep one - somewhere hidden for payments where you need the extra insurance) .

ImDuranDuran · 29/11/2025 19:35

So is your DH suggesting you use the money in your current account to put towards the outstanding balance?

Original poster
MoneyMare · 29/11/2025 19:35

For context, we have £27,000 in savings that we can’t access. We don’t have a car loan and don’t own our own house. This is the only debt we have.

OP posts:
Original poster
MoneyMare · 29/11/2025 19:33

I’m also wondering, how will it work with the 0% running out. Will that be reflected in the end of December bill? I also don’t know how to work out how much interest we would pay a month. I think the APR is 27%.

OP posts:
Swipe left for the next trending thread