Should I transfer balances?

DarrenW_2

Hi
This is my first post and I'm hoping you can offer some advice. Currently I have the following credit cards
Virgin - Balance of £6419 @ 17.9% , but £1918 of this is at 3.9% until Feb 09
HSBC - Balance of £3116.7 @18.9%
Barclaycard £2698 @ 0% until Feb 09, then standard rate (not sure what that will be)
HSBC (Wife's) with balance of £1410 @16.5%.
The question I have is this...I was going to transfer the balance of both HSBC cards to the virgin card who have offered 3.9% until August 2009. This would cost me £135 in fees, but I've calculated that the monthly interest on the HSBC balances would be reduced from £70 to about £14 and I would save about £300 over the 10 months.
All sounds good so far...but I'm concious that a large chunk of the existing virgin balance is on purchases (17.9%) and this won't get paid until the existing (and any new)balance transfer amount is gone. I've looked at the snowball calculator (which I think is brilliant!) but although it allows you to enter promotional rates and lengths, it doesn't allow you to specify how much of the balance is at the promotional rate.
Am I best to transfer or keep them on separate cards?
Thanks!

Darren

Moggles_2

If I were you, I'd keep your BTs and purchases on separate cards.

Have you or your wife considered Halifax? 13 months 0% on BTs is currently available to new customers. There's a 3% handling charge. Remember not to spend on the card

http://www.halifax.co.uk/creditcards/pluscard136.asp