Should i do it? (transfer)

experience08

Hi, i've got a Egg card with £9,888 @ 17.9% pa. I can only pay the min. every month. I will be able to pay a lump sum of £3,000 at xmas. Marbles has offered me 4.9% until 31/03/2009 (3% fee). Should i move my balance over? Thanks

Staciep88

I would def. Its cheaper interest so you'll be paying more of your debt off rather than just interest. Just remember that 3% is £296.64 but in the long run you will save. However you will save more if you can get a 0% balance transfer interest card, have you looked into this? Virgin offer a good one

GeorgeUK

I work out that you will save about £200 by making the transfer (Assuming minimum payment each month is £247.21 (2.5%))

Pity it's only a 6 month offer - but then egg may be able to make an offer after you have cleared the card and take advantage of the marble rate. I estimate you will have about £5,900 left to clear by then.