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Lob ????
bella123
Posts: 209 Forumite
in Credit cards
What are the benefits of a LOB transpher. :j
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0
Comments
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LOB = Life Of Balance.
So it means exactly that - you get than rate on the transferred amount for as long as it's on your card - you won't get 0% on it - but you will get a low rate - AmEx do 4.9% for example - which is lower than any personal loan.
Just be careful not to spend on the card because that will be at a higher rate and most cards will apply your payments to the lower rate debt first. So you could end up paying far more.
M.0
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