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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

To not know how this works?

9 replies

Soitis83 · 15/07/2023 19:38

So my partner has 2.5k of credit card debt. We can manageably pay it off each month, however, interest on it is another 100 pound a month. I've asked him if he can somehow change it so there is no interest and he said no as it's taking too long to pay it off. Admittedly he knows more about this stuff than me but I can't help but think there must be a way he can do this?

OP posts:
Purplerainpurplesky · 15/07/2023 19:39

Balance transfer to a 0% credit card

Sickofchangingmyfuckingusername · 15/07/2023 21:11

Really? He knows much more about it? Suggest he changes to 0% credit card transfer and you pay it off before the deal ends. Make sure you see him destroy the card in front of you and check statements to ensure he isn’t continuing to spend.

VimFuego101 · 15/07/2023 21:14

The only reason this wouldn't be possible is if he's got late payments/ a bad credit rating so wouldn't be able to secure a 0% card. (Don't take out a card in your name on his behalf if that's the case!)

Thunderisntnicebythebeach · 15/07/2023 21:15

Why is his debt your worry?

ManchesterLu · 15/07/2023 21:17

I did a lot of credit card tarting when I got my house and needed furniture etc. Ended up never paying a penny interest, and didn't have to wait to save up for anything. Definitely switch to 0% interest card.

Silverstreaks · 15/07/2023 21:19

You research 0% balance transfer. Give him the info. Expected a change and if nothing happens rethink.

ThinWomansBrain · 15/07/2023 21:22

If he was such a financial whizz he wouldn't have run up debt on a high interest credit card that HE can't afford to repay.
Why are you repaying it?
Google interest free credit cards - or get him to, transfer the balance and work out how quickly HE can pay it down.
If he can't transfer because he has a low credit rating, be very careful about taking on shared finance and responsibilities.

doingthehokeykokey · 15/07/2023 21:24

We can manageably pay.

He can pay. Don’t get sucked into this.

xyz111 · 15/07/2023 21:45

He clearly doesn't know. Unless he can't get accepted for one if he has bad credit, he should be able to move to a 0% balance transfer card

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