Switching Credit Card to pay off debt

D

dub0605

Registered User
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hi all, i currently have a "be" credit card with AIB which i owe nearly €1000 to :( i am trying to get this cleared asap. i was thinking of getting one of their new credit cards the Click Visa card which states that is has the lowest APR 8.5%

would it be a wise move to get a new Click card and use that to pay off my other credit card??!!

all opinions needed, thanks :)
 
dub0605 said:
hi all, i currently have a "be" credit card with AIB which i owe nearly €1000 to :( i am trying to get this cleared asap. i was thinking of getting one of their new credit cards the Click Visa card which states that is has the lowest APR 8.5%

would it be a wise move to get a new Click card and use that to pay off my other credit card??!!

all opinions needed, thanks :)
Click to expand...

about 2 years ago i transfered my balance for BOI Master card to MBNA which seemed like a good idea at the time

MBNA offered a 6 month interest free deal wheich would ahve been great if i had to money to pay it off after 6 months but didnt and took me ages to get rid of them. and ended up using the BOI card as well so had to get a bank loan to pay both off and iv been good since wiht just one

dont forget that you would be charged 40E gov tax on each card held in a year this is charged in april for the year comming.

so if you can find a interest free card (dont know who is doing this at the moment ) it would be good but you are going to have to pay the 80 euro for the 2 cards.

it might be better to get a personal loan or if you already have one get a top up.
 
thanks for your reply. a loan isnt really an option, i already have a pretty high credit union loan and the moment so i dont want to get another top-up on that. i guess ill just keep paying as much as i can. i usually try €100 a week but some weeks this doesnt happen and at this rate it seems never ending
 
Switching from one AIB cc to another AIB cc will not be of benefit to you because you won't get the lower rate on the existing balance . Check out the cc section under the online survey heading in here. First active and Ulster bank both offer 0% for 9 months on balance transfers ( click on the product to get full details).
 
you can switch to Ulsterbank (assuming you get approval) and get 9 months intererst free on your balance transfered over. I did this and paid it off within the 9 months intererst free.

Then chop it up so you can't go into the red again.
 
I was in a similar position with MBNA.
I had a card at 14% approx, rang them and said I was considering moving to another supplier.
Suddenly I was a very special customer with a new rate of 9.9%:D and a slightly increased credit limit so I could clear my overdraft.
O/P, give your Credit card supplier a call and see what they say.
 
dobsdave said:
I was in a similar position with MBNA.
I had a card at 14% approx, rang them and said I was considering moving to another supplier.
Suddenly I was a very special customer with a new rate of 9.9%:D and a slightly increased credit limit so I could clear my overdraft.
O/P, give your Credit card supplier a call and see what they say.
Click to expand...
Would you not have been better off switching to a 0% introductory offer card?
 
ClubMan said:
Would you not have been better off switching to a 0% introductory offer card?
Click to expand...

Yes, I tried that but I needed quite a large credit limit for short periods of time,(similar to the card I had), and also had the low rate permanently.
None of the companies I tried, could match the card I had at the time.
 
thanks all for your replies, i think im just going to stick it out and get it paid off, put another €100 off this week so if i try keep it up i should be doing ok. ill just keep praying i win the lotto
 
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