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Another credit card question

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  • 28-05-2008 2:37pm
    #1
    Keano
    Moderators, Recreation & Hobbies Moderators, Social & Fun Moderators, Sports Moderators Posts: 12,802 Mod ✭✭✭✭


    Sorry to start a new thread but I am looking for the best option. I am currently with BOI and have a credit card with over 3k owed on it, bought house last year and stupidly spent what I didn't have. That is history now but I want to start clearing the card but all I am paying is the interest.

    Would it be worth my while moving to Halifax? Although reading other threads doesn't inspire me to move to them.

    No doubt a few have been in the situation and have seen the light.

    Cheers


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    #2
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    Depends on how your credit grade is at the moment. If you go for a restructure loan to pay off the credit card they may tell you to close the credit card or reduce the limit. They may not look for you to get rid of your credit card if your credit history is good. At the end of the day it's all about the repayment capacity. Decide what you can afford to pay per month and go for a loan that meets your requirements.


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