Credit card debt help

[OneForTheRoadThen]

Hi,

I've got a big debt on my credit card - about 5k (combination of 2 maternity leaves and changing to part time work). I can afford to pay about £150 off a month but at the moment this is just the minimum repayment so I'm kind of stuck.

I've looked into balance transfers but most won't accept me because of my part time salary. Does anyone have any advice? We don't have any other debts.

Would my bank actually help or is it in their interest to keep me paying the minimum?

TIA

Have you checked what cards you would be eligible for on money saving experts elegibility calculator? This search doesn't affect your credit score and gives you a percentage rate of your changes of being accepted so you pretty much know beforehand whether you'll get the card or not.

If it helps, I was desperate to transfer £5k worth of debt onto a 0% credit card and the option I got was HSBC credit card with a 40% change of acceptance. I was desparate, as I was spending about £55 a month on interest alone, so I applied and got accepted!!!!!!

What I mean to say is it's worth applying, even if you think your changes of acceptance are low.

Another thing is that Aqua and Capital One credit cards are pretty much available to everyone no matter how bad their credit score is. Even though they'll only give you about a grand for 6 months on interest free, it's still worth it taking and transferring what you can over to that.

Try those.

@NotSuchASmugMarriedNow1 thank you, that's really good advice! I will go in MSE now and see if anyone will take me.

Sainsburys and Halifax acvepted mine for. Similar amounts and I'm unemployed. But it asked total Household income so I put dps. Approved I was very surprised

Have you asked your bank for a loan ? The % rate will be a lot lower than what you are paying now .

If you can’t get a loan or another card then just keep paying the £150 each month. Pretty soon it will start eating into the balance as the minimum gets reduced.