0% credit card?

[medoitmama]

I have about £4500 on 2 seperate credit cards. I'm paying loads of interest. I'm really, properly skint at the moment, buty have been making the minimum card payments.

I would love to move my cards to a 0% card but don't think they'd have me! I'm a stay at home mum and and my DH had to declare himself personally bankrupt a few months back due to his business going under.

Any advice much appreciated.

There are plenty of 0% cards that you could apply to. Your husband's bankruptcy probably does affect your credit rating but there's nothing to stop you making the application.

Do read the T's & C's very carefully, however, because the 0% is usually for a limited period, the ultimate APR may be higher than you're currently paying and there is always an up-front transfer fee.

In the meantime, whatever spare money you have available make a massive effort to pay it off the CC costing you the most interest. Even if you only pay £10 or £20 above the minimum payment you'll bring down your debt a lot faster than if you stay on the minimum. Good luck

MSE email this week had a 0%deal for 17 months.

Thanks, but this deal requires a minimum income of 20k which I don't have! Also, I could just apply for deals and hope one excepts me, but have been told in the past that this can affect your credit ratinf negatively if you get turned down for stuff. Plus I'm dyslexic, so although I'm capable of filling in forms I would rather avoid it unnecessaly as it fills me with fear!!

Anyone aware of a 0% or failing that just a low % CC that doesn't require an income?

chi1234 thanks for advice on paying above min. payment. Although I guess I know I should be doing that, it sounds more manageble when you talk about just £10 - £20 a month. I'm going to make a huge effort with this as I'm fed up of being in a financial mess!!

Ok, I've applied for a Vigin CC after mad ramblings of my last post. Re-read chil1234 and had missed link first time round (doh!) Virgin looked OK and gave me the Homemaker option in job section. Also allowed me to declare my £0 annual income without malfunctioning!

7-10 day wait now. Fingers crossed!

While you're waiting those 7-10 days, start keeping a spending diary or spreadsheet tracking your expeditures really closely so that you know exactly where your money is going. Being 100% aware of spending usually results in spending less. Then go through any DDs and SOs that come out of your bank account and ask yourself a) what are they for? b) are there any I can get rid of? and c) are there any I can reduce? Comparison sites are always worth checking on a six-monthly basis to make sure you're not paying over the odds for utilities, insurance and other regular items.

If/when you get your 0% card it's really important to pay off as much of the balance as possible before the interest kicks back in. Then you'll get the benefit from the change. Good luck :)