help needed so i dont mess up please

alanco15

hi guys, i am thinking of trying to use some of my available credit to offset mortgage. but want to now the best way.

i have a oneacount with approx £42,000 remaining at 6.1%

I have just received a abbey zero c/c with 3400 limit with no b/t fee for first month and 0% until may 09.
Is it straight forward to transfer into one/a. and legal to do.

also i have another abbey card with £8200 limit but a 3% transfer fee.0% until may o9.

and another mbna card £4900 limit , 3% fee 0% until may 09.

All cards have zero balance at present, so what do guys suggest is the way forward and how much do you think i could save .

any help would be much appreciated.

ps do i need to get one of those egg cards for this, mind you i only have a couple of weeks to take up the abbey zero deal, I think i have a good credit rating so could probably apply for other cards if need be.

Richard019

The Zero card is worth doing if you can get Abbey to transfer it to your account. They seemed to stop doing that last summer, but it was a bit hit and miss as to whether they allowed it afterwards. When I got my card for example they would let me do it but only to a current account with another bank. Other people who had tried before me were told they'd stopped altogether.

The normal Abbey card and the MBNA card aren't worth doing as the 3% fee is higher than the 6.1% interest will be over the 5 months.

I also thought Abbey had changed their T&Cs so that you could only have one card with them?