full image - Repost: Credit card debt - looking for advice (from Reddit.com, Credit card debt - looking for advice)
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I’m looking for some advice on credit card debt that I have built up.I’ve currently £6400 across two separate cards.Currently in a job where my salary is 36k.The monthly payments on each cards is currently £134 each month and then the other card £116. Each month with interest I am getting around £50 added on for each card.I’m hoping to save towards a house for next Spring and wondering how best to tackle this debt. My credit score isn’t great either so trying to save as much as I can towards a house deposit too. From looking online I have a few optionsGet a balance transfer card, pay all the debt and just have the one monthly payment saving me a lot of money on interestGet a personal loan to wipe out the £6400 in one go and then just pay off the loan over the next year or lessKeep paying the min payment on both cards each month, don’t put any money towards the house deposit and just keep hacking away at the debt. I can pay around £800/900 off in one go on top of the min payment each month if I focus on one card at the time. If I do this option, I’ll have it paid off in full by the end of the year.I’m leaning more towards option 3 as with my credit record and planning to get a mortgage, I’ll need to get rid of the debt and improve my credit score.Any advice/help is greatly appreciated
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