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overdraft payoff?

glen70
Posts: 82 Forumite
in Credit cards
hi.
i have an overdraft of £2600 with lloyds.paying £25 charges a month would i be better off getting a virgin card and tranfer £2600 onto it for the 15 months 0%?also can somebody tell me what the minnimum payment would be for that ammount on that card?
thanks.
i have an overdraft of £2600 with lloyds.paying £25 charges a month would i be better off getting a virgin card and tranfer £2600 onto it for the 15 months 0%?also can somebody tell me what the minnimum payment would be for that ammount on that card?
thanks.
0
Comments
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...would i be better off getting a virgin card and tranfer £2600 onto it for the 15 months 0%?also can somebody tell me what the minnimum payment would be for that ammount on that card?
thanks.
Do not use the card for purchases after you've made the BT.0 -
thanks for the responses.i am going to cut up the card so will only be using it for the balance.the first payment will be because of the fee i guess?0
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Yes, it's recovered with the first payment.
Calculated as 3% of the balance (which will be £2,600 x 1.0298).
EDIT: Don't forget though, that if you only pay the minimum then at the end of the Virgin intro period you will still have £2,250 of debt.0
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