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  • FIRST POST
    • benchall
    • By benchall 20th Apr 17, 11:08 AM
    • 1Posts
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    benchall
    Purchase or balance transfer card?
    • #1
    • 20th Apr 17, 11:08 AM
    Purchase or balance transfer card? 20th Apr 17 at 11:08 AM
    I'm looking to get a new credit card for a large purchase (£3000) but can't decide on the best option:

    1. Make the purchase on a new 'Purchase' card - up to 30 months 0% interest.

    2. Make the purchase on an old card I've not used in years (current balance £0), then transfer the balance to a new 'Balance Transfer' card - up to 40 months 0% interest.

    The first option is simpler, but the second option gives me longer to pay the debt off...

    Is there anything else I should consider?
Page 1
    • MisterP123
    • By MisterP123 20th Apr 17, 11:42 AM
    • 25 Posts
    • 16 Thanks
    MisterP123
    • #2
    • 20th Apr 17, 11:42 AM
    • #2
    • 20th Apr 17, 11:42 AM
    The balance transfer option will probably be more expensive overall as no doubt there will be a balance transfer fee. Without knowing the fee I'd guess you're looking to repay an extra 100 pound, ish.

    Although monthly repayments will still be less. Soooo, would you rather spend more for lower monthly repayments?

    Unless of course, the balance transfer is fee free, then it depends on whether you're likely to use the card for other purchases in the future.
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