Next directory

[Layla30]

I have stupidly run £2000 on my next directory account. Didn’t really think about the interest until recently then realised £37 of what I am PayPal my every month is just for that. I applied and got a credit card with 0% interest for balance transfers but when I phoned up to do it they said no credit cards allow balance transfers from catalogues to credit cards.
I cancelled the credit card but now feel I have nowhere to turn to help me get this account cleared.
Any advice?

Try a money transfer card, tesco does them. And make sure you cancel the next account so you can't run up a balance on both.

This is consulted but could you pay your next account with another credit card then transfer the balance from it to your interest free one?

or what hamiltoes said which sounds much easier.

You can pay your Next account with a credit card, I always do this every month. This would also avoid any balance transfer fees.

But it may not have an interest free period on the credit card that way

I have never had a credit card in my life so really didn’t know anything about them. I realise now I should have applied for a purchases one with 0% for the term and not a balance transfer one.

Will look into the tesco one though, thanks.

I’m not being goady but how do you do that? Run up a £2k debt without knowing? How is it possible to keep spending money you don’t have?

No you need one with allows (ideally 0% introductory) money advances to your current account, not 0% on new purchases or balance transfers. Get the cash transferred to you, pay the debt and set up a decent direct debit to the card to pay off within the 0% period.

This works if you are disciplined and CUT UP THE CARD. Seriously don't use it for anything else.

Also, set up your payments for NEXT in future so that the direct debit clears your balance every month. That way you won't spend more than you can afford in any one month. It's not so hard to wait a few weeks to buy something if you've already spent that month.

BTW it can be hard to find a good cash advance deal on a credit card -you might do better with a small loan. Sainsbury's do 3.2% at the moment which is still better than next interest rates.

Badass I don’t mean I didn’t know I was running up a £2000 debt I meant I didn’t realise the interest rate therefore didn’t know that £37 out of the £100 I was paying back every month was just interest.

So stupid to not realise that but I didn’t!

RJ fair point. I haven’t used a 0% card in a while but must have been 0% interest on purchases as well as, or maybe in addition to, balance transfers.

Asper’s suggestion of 0% transfer to current account is also a good one. With Next Directory you don’t need a physical card to purchase, so can’t cut it up, but remember to cancel the account once it’s fully paid off so you can’t run up any more spend.

So a 30 month 0% interest for that term purchases card wouldn’t work then? I thought if I got that then used it to pay the directory then just paid the card every month that would work.
Never heard of Money advance will look into it.

Definetely cancelling account as soon as it’s paid off this is the first time I have run up debt like this and I am so annoyed at myself about it.

Layla don't beat yourself up, you're not the first or the last person to do this! Most of us have at one time or another.
I agree the cash advance card is the way forward - Barclays are doing a good one at the moment at 0% until October. If you've not cleared the balance by the time the 0% comes to an end, then you take out another with a 0% balance transfer deal and simply transfer the balance. Next should also be able to block any further spending on your account until the balance is cleared in full (just phone them and ask).
I second PP who said DO NOT use the card for anything else - purchases or cash withdrawals will attract interest, which will mount up behind the 0% debt if you don't pay it off in full each month.
And set up a direct debit to make at least the minimum payment each month, you can top-up the payment via phone/online bank transfer - but if you fail to pay the minimum payment on time you'll lose the 0% deal and you'll find it difficult to get another card to transfer the balance to.

So a 30 month 0% interest for that term purchases card wouldn’t work then? I thought if I got that then used it to pay the directory then just paid the card every month that would work.

I think it would work in the way that you describe as Next allow balances to be full via credit card through the online portal.

I find next really handy -I live rurally but can get bits and pieces delivered for the kids with ease. But you do have to be disciplined as the interest is outrageous. After falling foul of it in the past, setting up a direct debit for the WHOLE balance every month works for me. It's easily arranged, and no interest incurred in this way.

You can pay your Next account with a credit card. I do this every time as I get cashback on my credit card. So you get a 0% on purchases credit card and you pay off Next in full. Make sure it is in full as well because Next are cheeky buggers and if you leave even a 1p balance they will charge you the full interest payment still. Destroy the credit card so you can't spend on it and set up a direct debit for the payments so you don't miss any and end up being charged.

Next are crafty buggers!!! i am so not impressed with their lack of ethics towards their customers!! their statements do not show the interest rate, you have to look online to find it. Neither do they give you an estimate of next months interest charges!!! I have a couple of other store and credit cards which have next months interest charge plus the interest rate there in black and white for you see. They are vultures!!!