Credit Card Debt - Loan?

iamtheoneneo · 20 Mar 2012 at 21:47

[FnG]magnolia;21516198 said:
Not sure how anyone can argue that moving to an interest fee card immediately and thereby reducing interest payments to zero is not a wise and sensible choice. Genuinely confused.

People are assuming he will get the new card - I'm gonna say he won't. So all advice in the thread is crap. The best action here would be to work with hs current card company and get the interest stopped based on payment promises.

JBod · 20 Mar 2012 at 21:56

Anyone know if Virgin Money credit card is online only with e-billing?

[FnG]magnolia · 20 Mar 2012 at 22:00

iamtheoneneo said:
People are assuming he will get the new card - I'm gonna say he won't. So all advice in the thread is crap. The best action here would be to work with hs current card company and get the interest stopped based on payment promises.

He's already making payment, what further promises can he make and why should they turn off the very lucrative interest rate?

InvaderGIR · 20 Mar 2012 at 22:04

iamtheoneneo said:
People are assuming he will get the new card - I'm gonna say he won't. So all advice in the thread is crap. The best action here would be to work with hs current card company and get the interest stopped based on payment promises.

Why not? The OP appears to be able to pay off the debt quite easily but just wants 0% interest/a lower interest rate.
I had a couple of cards with interest running and balance transferred both onto a BarclayCard Platinum 0% for 22months card (found via MSE's 0% List). The total I transferred onto the card was marginly less than the OP and I was provided with a limit much, much higher than required.

[FnG]magnolia;21517208 said:
He's already making payment, what further promises can he make and why should they turn off the very lucrative interest rate?

Exactly.

JBod said:
Anyone know if Virgin Money credit card is online only with e-billing?

I was a customer of theirs until about Oct last year and they gave paper statements along with OLB and I think the choice to go paperless (when I set it up it was paper only).

[TW]Fox · 20 Mar 2012 at 22:13

iamtheoneneo said:
People are assuming he will get the new card - I'm gonna say he won't.

We don't have enough information to say whether he will or won't. If he isnt missing payments his credit rating won't be adversely affected by his outstanding debt - it'll just depend on whether his debt/income ratio is appealing to card issuers or not.

If he cannot get it he cannot get it but he wont know until he tries.

So all advice in the thread is crap.

lol

The best action here would be to work with hs current card company and get the interest stopped based on payment promises.

'Hi yea, the card I'm currently having no problems paying at 18%? Well can we totally freeze the interest? Ta!

lol