Abbey Have I got this right

Jennywren3

I have just had all this explained to me as I got myself in a bit of a mess .
I was going to cash in an Isa to pay for a debt on my virgin credit card £5000 and paying a lot of interest .
As the isa has dropped so much, is it possible if Abbey accept me with their no balance transfer charge be a suitable place to move the debt to ,with the hope in 6months the isa goes up, or should I cut my losses and just pay off my card with the Isa

Older enough to know better but I have been really thick
Any help appreciated in financial confusion

YorkshireBoy

I wouldn't be selling investments at what *could* be the bottom (or close to the bottom) of the market...especially when there are fee-free options to keep the credit card balance at 0% for a little longer.

Just opinion...NOT advice.

jamesd

Seeking another 0% deal is the way to go, including paying 2-3% if necessary.

Selling from stocks and shares ISAs when prices are very low is foolish, it's how consumers lose their money to the pros.

Jennywren3

Thanks to both of you Got to get a good deal now and find someone to take me on quickly The interest on Virgin is running at about 50 pounds a month

JimmyTheWig

Agreed. The ISA may carry on going down for years or may pick up quite quickly. I don't know. Clever people on this forum don't know. Do you think you know?
Personally I wouldn't be cashing in at the moment.