Am I in trouble

A question about : Am I in trouble

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Best answers:

• Yoouve been a good boy and are not in any trouble, as you have a saving pot which covers the main interest bearing debts.
  If I were to make changes it would be to ditch the annual fee cards in favour of no fee cards.
• I personally would get rid of any credit cards (Amex and BA) that you have to pay an annual premimum for as you're are just paying them and getting nothing in return. You will save Ј215 P.A.
  Of course its better to be in no debt - make sure your savings are earning a good interest rate - perhaps an internet bank - and then use the interest to pay off the Barclaycard.
  Depending on whether you need the overdraft - you'd be better paying of the Ј200 on the barclaycard at the 18.9% limit - and owing it on the overdraft at 0%
  If you're going to Paris - use a credit card that doesn't charge fees for foreign transactions - like Nationwide or London Victioria.
• Not sure if this is good advice...but I'd say you're not in trouble...but why not use your savings to pay back the outstanding amount on credit cards and if you need cash in savings - do a BT with 0% interest to get the cash back, allbeit for a short period?? just a thought
• Thats a no brainer as the Americans would say. Your Ј200 is gromwing fast with Barclaycard at 18.9% and you'll never get saving at that rate. So yes, put that extra towards that and you'll be gaining every month. Of course, you could clear the majority with your savings which would benefit you even more!
  And of course, ditch the fee paying cards, this is also a no brainer!
  Hope that helps!!
• [quote]I think that the Ј125 a year a pay in total each year (Golg Charge Card is Ј95 and I get the American Express British Airways Premium Plus Card for Ј30 because I have another of their cards) is worth it.[quote]
  But that Ј125 would pay your BCard off in one go!
  Quote:
• I'm with the others - cancel fee paying cards & pay of credit cards with savings.
  I'm impressed you think Amex's customer service is worth Ј125 a year - are the other companies that bad?? How often do you actually need to speak to them?? For that price, you could get say a flight to Europe.
  Why do you feel nervous without savings?? Surely if you needed funds in a hurry, you could use a (Non-fee charging) credit cards??
  Banks & CC companies LOVE customers like you!! They make money in interest on your credit card, and give you much less in interest on your savings. You even pay annual fees for privilege of carrying cards! You don't even use all your interest free overdraft.
  To be a moneysaver, you have to play them at their own game, and not let companies make money out of you. Obviously it is up to you whether you do this.
  You can happily keep going as you are, you are in no means in any serious trouble, you may need to tighte the purse strings a bit.