Minium payments on credit card help!

[blondebabe]

Ok so basically I've got £136 coming out on the 7th July. I then have £105 coming out on the 7th August (because it rolls over after 15th of each month.

I always pay it off full at the beginning of each month (normally the 7th) by direct debit but recently (with lo's birthday and car tax X 2 , my car insurance
And endless petrol tanks (£60 a time) I've had to put a few things on my credit card -totally just over £200-

I have some savings coming to me beginning of oct and I was wondering if it would be so bad to do minium payments for a few months?

My rate on my credit card is 12.9%



Any opinions will be greatly valued

 

[ArcaneSpark]

I feel doing minimum payment would be better than potentially missing a payment. Have you thought about consolidating to a 0% for 12 months card?

Just remember doing min payment increases the duration and value of the debt.

 

[nickibrum]

I would pay the minimum while getting a new card set up, of course you will have to work out if the 3% charge they will charge you will be better than the interest.

 

[whatwillbex]

Maybe try consolidating your credit card payments into a bank loan instead as bank loans have better rates than a credit card.

 

[nugget80]

If you don't owe loads then i would just make minimum payments for a while...

 

[Aimee4311]

Since you don't have a huge balance it shouldn't be a problem to make minimum payments for a while. The thing you want to avoid if at all possible are making late payments/skipping payments!