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  • FIRST POST
    • Dandytf
    • By Dandytf 10th Oct 16, 9:09 PM
    • 437Posts
    • 237Thanks
    Dandytf
    30%apr to 27.5% what's the savings.
    • #1
    • 10th Oct 16, 9:09 PM
    30%apr to 27.5% what's the savings. 10th Oct 16 at 9:09 PM
    Cap 1 276@30% apr

    Is it worthwhile t/ferrying to Tesco bank@27.5 apr.

    Not a great deal of savings I think though I could then close Cap 1 card.

    What other mser's think?
    sc dmp 2012 13k

    Jan 2016 5219 paid.
Page 1
    • molerat
    • By molerat 10th Oct 16, 9:16 PM
    • 15,034 Posts
    • 9,383 Thanks
    molerat
    • #2
    • 10th Oct 16, 9:16 PM
    • #2
    • 10th Oct 16, 9:16 PM
    £276 ?? The difference will hardly be noticeable, about 50p a month if the balance is not reduced.
    www.helpforheroes.org.uk/donations.html
    • Paully232000
    • By Paully232000 10th Oct 16, 9:18 PM
    • 2,037 Posts
    • 1,394 Thanks
    Paully232000
    • #3
    • 10th Oct 16, 9:18 PM
    • #3
    • 10th Oct 16, 9:18 PM
    Also, is there a balance transfer fee to take into consideration?
    • Dandytf
    • By Dandytf 10th Oct 16, 9:31 PM
    • 437 Posts
    • 237 Thanks
    Dandytf
    • #4
    • 10th Oct 16, 9:31 PM
    • #4
    • 10th Oct 16, 9:31 PM
    Thanks for the replays which make sense, I didn't; get the chance to check balance t/ferr fee visa Tesco before I posted.

    I posted as I intend to bring both Cap 1 and Tesco to 0 balances if possible next 3mths.

    I think I maybe more motivated if I t/fer to Tesco and close Cap. Card as I've recently got a 1000 limit via Luma, it's my way of avoiding multiple high limits which I did have prior to 2011.
    sc dmp 2012 13k

    Jan 2016 5219 paid.
    • Dandytf
    • By Dandytf 10th Oct 16, 9:38 PM
    • 437 Posts
    • 237 Thanks
    Dandytf
    • #5
    • 10th Oct 16, 9:38 PM
    • #5
    • 10th Oct 16, 9:38 PM
    Tesco 3% minimum balance t/fer fee.

    Is it more sensible to continue to pay off Cap 1 then close i.e. No balance t/fer required?
    sc dmp 2012 13k

    Jan 2016 5219 paid.
    • TheShape
    • By TheShape 10th Oct 16, 10:05 PM
    • 445 Posts
    • 224 Thanks
    TheShape
    • #6
    • 10th Oct 16, 10:05 PM
    • #6
    • 10th Oct 16, 10:05 PM
    Tesco 3% minimum balance t/fer fee.

    Is it more sensible to continue to pay off Cap 1 then close i.e. No balance t/fer required?
    Originally posted by Dandytf
    You'll pay £8.28 to transfer the balance. If you're paying it off in the next three months that will be more than you'd save by transferring.
    • Dandytf
    • By Dandytf 10th Oct 16, 11:10 PM
    • 437 Posts
    • 237 Thanks
    Dandytf
    • #7
    • 10th Oct 16, 11:10 PM
    • #7
    • 10th Oct 16, 11:10 PM
    thanks for all replys

    That's all my questions answered this evening.

    I'll continue to pay cp1 with intention of closing it approx 2-3 months.

    I set myself a 'limit' of no where near 1 months wage with total cc usage.

    At least ive managed to get into my emergency only mindset this year, e.g. 1 tyre Luma card. Approx 50 paid 1 or 2 months time.
    Cap 1 took the biggest use earlier this year during bathroom emergancy.

    Tesco card is 137 -25 minimum payment If I find extra 10 or more that will also reduce.
    sc dmp 2012 13k

    Jan 2016 5219 paid.
    • Paully232000
    • By Paully232000 11th Oct 16, 10:52 AM
    • 2,037 Posts
    • 1,394 Thanks
    Paully232000
    • #8
    • 11th Oct 16, 10:52 AM
    • #8
    • 11th Oct 16, 10:52 AM
    Thanks for the replays which make sense, I didn't; get the chance to check balance t/ferr fee visa Tesco before I posted.

    I posted as I intend to bring both Cap 1 and Tesco to 0 balances if possible next 3mths.

    I think I maybe more motivated if I t/fer to Tesco and close Cap. Card as I've recently got a 1000 limit via Luma, it's my way of avoiding multiple high limits which I did have prior to 2011.
    Originally posted by Dandytf
    Not worth the transfer, just keep paying the card you currently have if you intend to pay it off in about 3 months.
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