Balance transfer offers - which is cheapest?

[Justme1981]

Hi all

I have £1000 which im going to transfer to another card as 0% ends 31st may.
Ive had 2 offers 0% 12 months with 3% fee or 4.9% 36 months 0% fee.
Im going to be paying 50-100 off each month.
My brain can't do the maths!!
Thank you!!

Depends on how quickly you pay it off.

Obviously, the first option means a fee of £30 up front.

Second option, if you pay £50 per month plus interest, then roughly you have an average balance of £500 for 20 months, 500 x 4.9% x 20/12 = £41 in interest (but spread over nearly two years).
If you pay £100 per month plus interest, then it's going to be half that, ie £20 or so interest.

So there may not be that much in it. The 3% offer has the downside that you have to pay it off in 12 months to avoid further interest.

Thank you, appreciate you doing the maths 👍

I recently transferred £1600 to a 0% Barclaycard, I didn't pay a fee and paying it off at £50pcm. Must remember to transfer again when 0% period is up.