Hi

I would appreciate if you can give me assistance with this please.

I had some various debts across various Credit cards and now I have decided to consolidate them into 1 loan and 1 monthly payment. This amount is 18.000PS (I am in the UK by the way)

My new loan has been approved and the money is in the account but before I start paying off the credit cards, I really want to use the 18.000ps for a short period of time either to generate some profits from somewhere or to improve my credit rating.

Any suggestions would be great.


Thank you
Sofia

sofia wrote:Hi

I would appreciate if you can give me assistance with this please.

I had some various debts across various Credit cards and now I have decided to consolidate them into 1 loan and 1 monthly payment. This amount is 18.000PS (I am in the UK by the way)

My new loan has been approved and the money is in the account but before I start paying off the credit cards, I really want to use the 18.000ps for a short period of time either to generate some profits from somewhere or to improve my credit rating.

Any suggestions would be great.


Thank you
Sofia

I can't understand why you would want to take a risk with the loan monies, and I doubt you will be able to beat the interest rates being charged on your credit card debt.

Pay off the credit cards !

If I have this right you want to make some cash on say 4 to 6 weeks inbetween the payment dates ?

It depends on your bank but if its with say the halifax then you could open a websaver without card which pays 4.5% this allows for instant access between your current and saver accounts,

If I were you I would open an savings account with your branch and make sure its instant transfers between current to savings, as the last thing you want to do is miss your pay by date and end up paying a lot more interest on the cards then you have made on the savings !

I agree, its not worth the risk