Several years ago, I was trying to sort my finances out from utter chaos & managed to get a Barclaycard which also offered me a transfer to a 0% rate for X months. I took the card & the transfer & set a standing order to pay as much as I could over the minimum payment, regularly every month. Since then, I haven't looked back. Barclaycard always have offers on for loyal customers, the fact that I can transfer to that card & make regular payments saved me money on interest over the whole period & helped me pay off my debts, manage my credit in a more controlled, responsible manner & also to build my credit score. Periodically, they increased my limit, which allowed me to shift more debts to them, using the same "as much as you can afford, but more than the minimum payment " mantra I had adopted.
I have now brought around £25,000 worth of debt down to about £7,000 - which also includes the following purchases in the last 12 months - new oven, new boiler, a new bathroom, double glazing throughout the whole house & guttering & fascias all replaced. These essentials would have been impossible had I not been able to bring that debt down initially & the positive impact on my credit score meant that I was able to secure a mortgage & buy a house.
Even when I made a purchase on my card, customer services arranged to move that amount to a "lifetime" rate, which benefitted me as a customer.
Reviewed on: 16th May 2019
