BT or not?

Staciep88

Hi everyone,

Just wondered weather it would be worth transfering my outstanding balance (see my signature) to a Abbey Zero card (which offers 0% Balance Transfer for 6 months with no fee!) I should be able to pay the balance off in full within these 6 months no probs. I have already cut up my capital one card with a massive 30.5%APR!!! Not sure what my natwest interest is (this is my bank) - somewhere similar I guess. My credit rating is good atm, does it affect my credit rating to switch to a 0% BT card? Should I cut up the Natwest card also or is it good to keep it as its with my bank or doesnt it make the slight bit of difference?

Thanks x

clio

Doing a BT won't affect your credit rating, infact it does not affect anything apart from saving you some money.

exel1966

Switching to a card offering a 0% deal has no greater bearing than one having an APR of 20%.
Either way you would be credit searched which does have an impact along with the credit limit allocated by any new if you're successful.
Your debts on the two cards are very low so you shouldn't be paying too much interest currently, but that will depend on the size of your current payments. In your shoes I would certainley shift the debt to Abbey ASAP as the chance to alleviate any interest whatsoever should be taken.