Balance transfer offer

YorkshireBoy

glen70 wrote: »

i have just received a virgin cc and have 2600 overdraft with tsb i have to decide wether to transfer it to my card?if so what would be the monthly minimum?

First one £80.32 then £25 per month.

glen70

thanks i am sure i asked this before sorry is this a good idea or not?

YorkshireBoy

glen70 wrote: »

thanks i am sure i asked this before sorry is this a good idea or not?

Your other thread, and my reply at the time to this question, is here...

http://forums.moneysavingexpert.com/showthread.html?p=12412303#post12412303

NickX

jangor wrote: »

Thankyou for all your responses. I did actually wonder whether the new amount borrowed would be paid off first rather than the original debt with the high interest. My balance on the card at present is £2300. I have a card with MBNA and an Egg card.

OK both Egg and MBNA are Super Balance Transfer (SBT) cards, but your plan won't work due to the "allocation of payments" clause in the Terms and Conditions.

You could transfer the debt from one card to another and back again to the 0% deal, but you will incurr 2 Balance Transfer fees so you need to weigh up if it is going to worth it.