Hello,
I have two debts that I am trying to get rid of as soon as possible.
GEM Visa - $1800
GO Mastercard - $1000
Is there a way to combine the debts to make one repayment with less interest perhaps? I've had a look on Google but I really don't know which way to go. I don't have cards for GEM or GO so the debt will not increase. I just want them gone.
Thanks, OzBargain :)
You don't want to be paying off CC debt over long periods, I'd contact the banks and see if you can be put on some sort of repayment plan with installments where the rate is lower. Another choice is to take out a personal loan and use it to pay off the CC debt. This is basically the highest amount of interest that you could be paying.
I will look into this. Thank you.
Get a credit card, pay off the 2 debts with the credit card and now it's 1 debt.
This principal amount is low.
Can't you wipe it out within a month or so?
You would think so. Although I am a divorced parent I work full time and receive the bare minimum of child support. I work close to 50 hours a week and unfortunately, I can't fit in another job around my current job and children.
What you're looking for is called a Balance Transfer.
Have a read through here: https://www.canstar.com.au/balance-transfers/0-balance-trans…