loan or life of balance

kaw_3

Hi
I have an approx total of £7000 on a couple credit cards. I want to raise another £7000 to fund a partial loft conversion. Not sure which way would be the best, either transfer to a life of balance credit card then using a 0% card to finance the work then swap this to a life of balance card, or get one of the 5.8% loans torepay the cards and finance the conversion. If this is the option the cards will not be used after the balance has been paid. Any thoughts
thanks.

Rafter

All depends on the APR and your ability to get one of the 5.8% loans. I have a great credit record but still finding it tough to get them to say yes!

If you are paying interest on the £7000 credit card debt at typical rates of 15%+ then definately worth getting the rate down through a loan or life of balance deal though. As you say - just make sure you don't fill the cards up again with purchases.

Good luck

R.