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What to do for the best

(11 Posts)
MyPreciousRing Sun 09-Nov-14 18:19:27

Message withdrawn at poster's request.

FantasticMrsFoxx Sun 09-Nov-14 23:10:04

How much are Barclays offering as the credit limit on your new cards?
Are both you and OH being offered the new cards?
What is the balance transfer fee? (usually a % of the amount to be transferred).
Is the Barclays deal the longest 0% and lowest fee (I've not checked, but I doubt it).
You need to concentrate on clearing your debt. IDEALLY, although I appreciate it may not be possible, you want to set up a monthly Direct Debit so the balance due is paid off within the 0% period.
The moneysavingexpert website has great, and more succinct, advice.

MyPreciousRing Mon 10-Nov-14 00:32:14

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antimatter Mon 10-Nov-14 00:38:45

for the privilege of transfer you need to pay 2.5% of the transferred amount which adds up to 140 pounds.

Do you know what is the interest you are paying at the moment on your cards?

MyPreciousRing Mon 10-Nov-14 06:01:05

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antimatter Mon 10-Nov-14 09:23:34

I don't quite follow what the situation is but would transferring balance for which you are already paying interest 19.9% and 4.9% free some money?

i.e. - do you pay interest on of your debt of 9K and 5K?

MyPreciousRing Mon 10-Nov-14 10:07:48

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antimatter Mon 10-Nov-14 10:10:36

I think you will be best off not to transer anywhere if you pay 0% at the moment.
This is just a loan for the duration of that offer. Pay off as much as you can!

MyPreciousRing Mon 10-Nov-14 10:22:46

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FantasticMrsFoxx Mon 10-Nov-14 19:54:24

If you are currently on a 0% deal, stick with it. About 6 months before the 0% period ends, start looking round for another 0% deal. Even a balance transfer fee of 2.5% is less than the APR for most personal loans / credit cards.

MyPreciousRing Mon 10-Nov-14 20:44:43

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