Struggling with debt? There are things that you can do
Cardeo is designed to help people escape the credit card trap. But even with the best tools, situations can change, leaving people facing financial difficulty.
If you are worried about making credit card repayments, we will do what we can to help. We can’t advise on debts other than those related to your connected credit cards, but we can recommend free services that help with money and wellbeing.
If you find the single monthly payment unhelpful, you can stop it at any time. It’s a convenient way of paying your credit cards, not a payment plan.
Cardeo’s single monthly payment is for people who can comfortably make the minimum monthly repayments on their credit cards, and keep up with other bills and credit commitments. It helps them to repay their credit cards consistently each month.
If you stopped your single monthly payment, you would still need to repay your credit cards some other way. If you feel you are getting into financial difficulty, contact your card providers to discuss your situation.
If you reduce your credit card balances by transferring borrowing to Cardeo Credit, you may then be able to spend more on your credit cards. It may be possible to transfer more of that spending to Cardeo in the future, depending how much headroom you have under your Cardeo Credit limit.
We encourage all of our customers to be responsible in using credit. Stay aware of how much you owe in total, and don’t go beyond your means. Only borrow more when you understand, and can afford, the cost of repayments.
When you accept Cardeo Credit, you are contractually liable to us for Cardeo Credit repayments. If you missed a repayment, we would ask you to contact us to discuss your options, to keep you within the terms of the Cardeo Credit agreement.You might also be charged a £12 late payment fee. Missed repayments are reported to credit reference agencies, which could affect your ability to get credit in the future.
If you already have Cardeo Credit and are worried that you might miss a repayment, please get in touch. We will kindly discuss ways to help you make your repayments.
Free money advice
Look after yourself
Struggling with money can be very stressful, and connected to other things in your life. These free services can help you get through it.
Find the right help for physical ill health and recovery
List of helpful charities, and an urgent helpline
Help and support for mental health difficulties
Charity offering 24/7 support for any issue you’re facing
Anonymous message service for instant mental health support
Advice on homelessness and losing your job
Help for the bereaved, by the bereaved
Support and resources for carers
Free, legal advice on many issues, including relationship breakdown
24/7 support for victims, including domestic abuse