Small Loan advice

[iamtheoneneo]

In my experience people who get more loans to cover a bad loan end up in even more debt.

If you dont cancel that credit card you are going to be in deep doodoo.

 

[Semple]

In my experience people who get more loans to cover a bad loan end up in even more debt.

If you dont cancel that credit card you are going to be in deep doodoo.

Yeah you've gotta be disciplined not to continue using any available lines of credit, but ultimately there's no logic getting shafted by high credit card APR rates, or overdraft penalties.

If that's the lowest APR loan you can get, then that's your best position to be in. You're always better off borrowing that little bit more to get rid of any high APR debts. Overdrafts were never really intended to be used as a major line of credit, and banks have been stinging people for years for going into them.

 

[Squink]

This.

No need to pay interest if you can avoid it. Try doing a pre credit check to see what cards are available before getting a full check on your file.

Iirc Moneysavingexpert have a tool that does a pre check on each major card provider, so the OP should be able to target the ones he’s most likely to be accepted on.