Right. Basically, I have around £1800 on my credit card. My money being put on it every month is £380ish and is for petrol, food, presents and every so often extras such as road tax. I'm regularly (depending on car problems etc) paying off around £450 (some months it's £500 and some it's £350). I can't work out how to spend less (the only thing I could stop doing is buying presents and I don't spend that much on them) but my salary has just gone down by 10% so I'm going to be earning around £100 less in take home money and am worried that I'll never pay it off. Plus, the interest they charge has just gone up so I'm now being charged £20ish a month.
So, if anyone has knowledge of 0% balance transfers, how does it work? If I get another credit card for 6-9 months of 0% and (hopefully) the same on new purchases, can I then just easily find another deal in say 8 months time to move it to? Or, can I keep the current card and do new purchases and then move the balance back if I can get 0% on that?!
There's no way I'll clear it in that time as on average I'm only clearing off £70 at the moment, but not being charged the £20 interest should make that £90 (or, taking off the £100 less I'll have, it'll only go up £10 a month). That way, at least I know it's going down (sort of) and won't be paying someone for the priviledge.
I've always avoided this as I felt it would be a slippery slope, however I suspect it'll be less slippery than the one I'm on now! What I don't want to do is have the same debt in a year's time.
Please help!