Cards or loan?

[SilverSparkle]

Hi, i was wondering whether someone might be able to help me come to a decision.

I currently have 1 credit card and 1 store card. The total debt is approx £3200. The monthly payments for both combined is approx £144.

The credit card is 0% interest until June 2009.

My question is, am i better off staying as i am for now and trying to transfer the credit card to another 0% in June and in the meantime to not use it or would i be better off taking a loan for the total value of the debt and paying both cards off. The monthly loan replayment would be £140 for 3 years.

I'm not sure what to do for the best.

Loans I think always work out slightly better than cards which are torturous.
Good luck! x

i would transfer it all to a new 0% interest card. if you can afford to pay £140 or thereabouts a month you'll get rid of it a lot sooner without any interest to worry about

Message withdrawn

Hi everyone,

Thankyou for your replies.

I think i'm going to get them both onto one 0% card and continue to pay the £140 per month and i should get them cleared a year earlier than the loan if all goes according to plan.

Thankyou so much for your advice.

Does the 0% card transfer incur a fee?

I'm not sure whether my existing card would incur another fee but if i were to transfer the whole lot onto another 0% so that i have at least a year then it would be an average fee of 2.9%