This is a strange question, and i am almost certain i know the answer, but here goes..
I have 4 credit cards with an income of £260 to pay them off.
HSBC £1840 @1.671 Per month Approx £30 Interest and £50 Min
Halifax £232 @ 27.45 Per annum Approx £6 interest and £11 min
BarclayCard £2444 @ 7.8% Annual Approx £16 Interest and £57 Min
Mbna £892 @2.2071% Per Month Approx £22 Interest and £31 Min
Total over all cards £5408 (rounded up) £74 per month interest and £149 per month Minimum Payment. plus £110 to throw at what i can.
So I should concentrate taking down MBNA as quickly as possible, followed by HSBC? There is a Balance transfer available with Halifax, the APR is 16% and im not sure that is a good idea :(
I can withdraw cash from my Barclaycard account, (at 15.8%) is it worth withdrawing the cash needed to clear the MBNA balance?
Basically this is my question!
This is so depressing, I need to clear it as quickly as possible, i consider a loan buy thats going to be with an apr of 29%
according to experian i have a good credit score :(
I have 4 credit cards with an income of £260 to pay them off.
HSBC £1840 @1.671 Per month Approx £30 Interest and £50 Min
Halifax £232 @ 27.45 Per annum Approx £6 interest and £11 min
BarclayCard £2444 @ 7.8% Annual Approx £16 Interest and £57 Min
Mbna £892 @2.2071% Per Month Approx £22 Interest and £31 Min
Total over all cards £5408 (rounded up) £74 per month interest and £149 per month Minimum Payment. plus £110 to throw at what i can.
So I should concentrate taking down MBNA as quickly as possible, followed by HSBC? There is a Balance transfer available with Halifax, the APR is 16% and im not sure that is a good idea :(
I can withdraw cash from my Barclaycard account, (at 15.8%) is it worth withdrawing the cash needed to clear the MBNA balance?
Basically this is my question!
This is so depressing, I need to clear it as quickly as possible, i consider a loan buy thats going to be with an apr of 29%
according to experian i have a good credit score :(