Store card debt...shall i put it on a credit card with 0% interest for 6 months..?

I have got a debt of 鎷?00 on a store card. Would it make more sense to transfer this to a credit card that has 0% on balance transfers and 0% interest for 6 months and pay it off via this instead of the store adding a ridiculous amount of interest on top of the debt. I am not a silly spender and i%26#039;m looking to pay this back and cut up my card and learn from this.

I am not financially able to pay off the whole sum but could definately pay off 鎷?00 a month. I was looking at the HSBC credit card.

Just want to know if there would be any catches or anything, as i was told that if i payed off the store cards minimum amount each month i would not be charged any interest, this hasn%26#039;t been the case, they just say anything to get you to have one.

If anyone has any other ideas of how i could repay this debt, that would be much appreciated.

thanks!

Store card debt...shall i put it on a credit card with 0% interest for 6 months..?

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Store card debt...shall i put it on a credit card with 0% interest for 6 months..?

It would make more sense to cut down on your spending and pay it off completely

Store card debt...shall i put it on a credit card with 0% interest for 6 months..?

Transfer it then hop to another card when the 0% period is coming to an end

BUT

Only do it if you have the self control to not use the card

Store card debt...shall i put it on a credit card with 0% interest for 6 months..?

Yes I would as it makes sense not to pay ridiculous store card interest.

There is lots of info on best 0%cards at www.moneysavingexpert.com

Store card debt...shall i put it on a credit card with 0% interest for 6 months..?

no dont do it...

..after the 0% apr runs out your looking to pay a huge amount of interest on to that account and before you know it you would be opening another credit account to pay for the one you currently have open...

...could you not just have an overdraft of 鎷?00??

speak with your current bank

they shouldnt charge you interest either with an overdraft - they only do this if you borrow over your current overdraft limit without letting them know

Store card debt...shall i put it on a credit card with 0% interest for 6 months..?

I would transfer it to a 0% credit card (you will probably be charged a balance transfer fee) Would recommend shoping around as there are many companys that offer different deals (i.e no balance trns fee) and probably try for longer 0% interest just in case you need extra cash one month.

Store card debt...shall i put it on a credit card with 0% interest for 6 months..?

No, just pay it off monthly and don%26#039;t put in on another credit card. You have to eventually pay it off. Longer you stretch it more interests and fees you%26#039;ll pay. There%26#039;s just no magic to it.

Store card debt...shall i put it on a credit card with 0% interest for 6 months..?

Definately switch to a credit card. Store cards rip you off big style - I always tell em to shove em where the sun don%26#039;t shine when they ask me every time I shop!!

Credit card providers will charge you a fee to transfer, usually 3%, so you would pay 鎷?8 on 鎷?00 to switch. However, there are loads of cards out there that offer 12 months at 0% and many that are better than HSBC, check out websites like the ones below for the best deals

Store card debt...shall i put it on a credit card with 0% interest for 6 months..?

Hi, you sound sensible enough to do this to pay off your debt, so transferring it to a 0% interest card may be a good move as long as you CAN and do pay it off - i%26#039;m not sure about any catches, you need to read the small print very carefully, and if you don%26#039;t understand any of it then ask for it to be explained.

As for the store card, if you feel you were mis-sold it you should be writing to them to let them know - tell that that you will take further action if they do not refund any interest you had to pay. They are very likely to pay up to avoid any bad publicity or possible court action.

If i were you i%26#039;d seek advice from consumer direct http://www.consumerdirect.gov.uk/ and also the FSA who regulate financial services http://www.fsa.gov.uk/

Good luck with sorting it out - and learn from it so you don%26#039;t end up in more debt - if you do get into debt don%26#039;t ignore it!! get help from citizens advice bureau http://www.adviceguide.org.uk/ or consumer credit counselling http://www.cccs.co.uk/

Store card debt...shall i put it on a credit card with 0% interest for 6 months..?

You didn%26#039;t supply enough information. did you max out your store card? are you concern about the euro spent or your credit score?

euro spent:

sounds great if you can do it. unless you don%26#039;t pay it off on time.

credit score problem:

If your first card is max out and you actually get the second for the total of the first, the report will appear that you%26#039;ve max%26#039;ed out the first card and paying off your second card. chances are your credit score will drop points. and its best advised that you try not to do anything with your credit until you%26#039;ve controlled the small credit card problem

I%26#039;m from the US, but I%26#039;m sure its mostly the same.

Store card debt...shall i put it on a credit card with 0% interest for 6 months..?

Hi,

Yes put it onto a 0% card. Shop around tho because some companies will charge you a percentage of the amount to do a balance transfer. Once the money has been transfered onto the 0% card CUT THE CARD UP!!!! (the store card and the new one) this will stop you spending on the new one. Then set up a standing order for 鎷?00 per month and then it will be cleared in the six months.

Hope I%26#039;ve helped.