Balance Transfer Advice

photonbucket

I am coming to the end of the Virgin 0% deal. I stoozed almost £6500 at 0%. I'm not sure what to do now that I owe £5800 and the deal ends in March.

I have a Barclays Platinum Card that I used to get 2% cashback, (that deal has now ended). So I asked them what balance transfer deals they have.

They offered a 0% £5000 transfer until July for a 1.25% fee.

Is this a good deal, or do you all think I should switch to Abbey zero or similar? I already have a Capital One Card for cashback and an Amex which I recently closed.

Thanks

BoGoF

Where is the stoozed cash and what rate are you getting on it?

photonbucket

It was party in a 6% ISA and partly in a LLoyds Savings account earning 6% down to aorund 4% once the base rate dropped. The Lloyds deal is now over, so I will probably end up switching to A&L 3.9%.

Unless there are better rates out there......

That probably means that I will break even but have the benefit of the cash in the meantime.

YorkshireBoy

photonbucket wrote: »

They offered a 0% £5000 transfer until July for a 1.25% fee.

Is this a good deal, or do you all think I should switch to Abbey zero

So the two choices are:

4/5 months 0% for a 1.25% fee, or

6 months 0% for no fee.

Seems an easy decision to me.

photonbucket

Fair comment! I didnt want to use up too many of the banks if you see what I mean. I will go with Abbey Zero. Thanks guys:j