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Paying off a balance?
Benthosboy
Posts: 417 Forumite
in Credit cards
Hello all.
I've recently b/t'ed £2200-ish from my Halifax CC onto my Virgin CC which is 0% for the next 9 months. (When I got the Virgin CC, it coincided with the Halifax giving me a 0% for 6 months deal, hence the unused 6 months of the 15 month, 0% Virgin deal).
I want to pay the balance off in full by the end of the 9 months but can't afford to pay it off in one go so what's the best way to do it and hopefully make a couple of pounds at the same time? I'm guessing that I should divide the total by 9, (approx £250) then pay the minimum monthly payment (approx £70) by DD from my current account each month and put the remaining £180-ish somewhere where it can earn some interest?
If that make sense, thanks in advance, but if anyone has a better suggestion, thanks again.
Martyn.
I've recently b/t'ed £2200-ish from my Halifax CC onto my Virgin CC which is 0% for the next 9 months. (When I got the Virgin CC, it coincided with the Halifax giving me a 0% for 6 months deal, hence the unused 6 months of the 15 month, 0% Virgin deal).
I want to pay the balance off in full by the end of the 9 months but can't afford to pay it off in one go so what's the best way to do it and hopefully make a couple of pounds at the same time? I'm guessing that I should divide the total by 9, (approx £250) then pay the minimum monthly payment (approx £70) by DD from my current account each month and put the remaining £180-ish somewhere where it can earn some interest?
If that make sense, thanks in advance, but if anyone has a better suggestion, thanks again.
Martyn.
LBM: 12.2.08.
Debt-free as of July '09 :j and determined not to go there, ever again :mad:
DFW Nerd Club #902 Proud to have dealt with my debts.
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