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Credit Card vs. Loan - which is best for spending?
sandy98uk
Posts: 12 Forumite
in Credit cards
Hi all
This may be a stupid question
but am I right in thinking if I want to borrow about £2000 over 24 months i would be better off getting a credit card with a long term low interest rate (i.e. Barclaycard Simplicity at 6.9%) is better than getting a £2000 loan at a 7.9% APR?
As I say, it seems obvious to me that the card would be the better option but I'm wondering if I'm missing something?!
Thanks
This may be a stupid question
but am I right in thinking if I want to borrow about £2000 over 24 months i would be better off getting a credit card with a long term low interest rate (i.e. Barclaycard Simplicity at 6.9%) is better than getting a £2000 loan at a 7.9% APR?As I say, it seems obvious to me that the card would be the better option but I'm wondering if I'm missing something?!
Thanks
0
Comments
-
With Barclaycard Simplicity, your standard APRs are variable. B'card reserves the right to vary your standard rates, up or down, at any time.People who don't know their rights, don't actually have those rights.0
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