Lloyds TSB V RBS

Chrissybh0y

I am currently with lloyds tsb and have a credit card with them i have recently opened a bank account with RBS, i no nothing about balance transfers , im paying through the nose on interest with lloyds sumthing like £65 a month on interest, i can maybe do a balance transfer to RBS there saying interest free for 13 monthx if i transfer, The question im asking is is it worthwhile changing to them or will they milk me dry as well ?

NickX

Well if you are paying interest now and RBS are offering you an interest free balance transfer then take it !

Why pay interest when you don't have to ?

But get a plan together for 13 months time to either pay the debt off or move it to another promotional rate, otherwise RBS will just hike up your interest rate again and you will be back to square one.

But 13 months at 0% interest is a good deal :beer:

Chrissybh0y

Balance Transfers0% for 13 months (on balance transfers made within the first 3 months)

is that wat that means ? sorry to sound thick

NickX

If you make a Balance Transfer in the first 3 months (since you got the offer), then you will not be charged any interest until 13 months (again from the offer date I would think).

Just make sure you make the minimum payments and don't pay late otherwise they will not only you charge you a fee but probably remove your 0% promotion aswell.

Chrissybh0y

I would be payin about £100 every month i think to try a huge chunk of the the balance b4 the 13 months are up