Credit card transfer or not????

garyjis

Hi, i have a lloydstsb gold credit card and i usually have trouble getting other credit cards all though lloydstsb throw them at me. I have just managed to get the egg card 0% for 9 months and then the following year u get 5 months and the year after another 5 month at 0%. Waiting for it to arrive, the only problem i am not sure what to do is at the minute my card has approx £2800 on it so i want to transfer the balance to the egg card. Problem is the egg card balance starts at £1250 so i cant transfer it all.
Would it be worth me transfering £1250 and be left with the egg card at 0% owing £1250 and the lloyds card with the remaining balance??? or would having 2 payments work out more expensive????
Any idea's???

Bokken_2

what interest rate would the balance on the LTSB be at? 15%?
You could move a balance to egg at 0% but you would need to clear this within the 0% period or it reverts back to Standard variable rate at 15.9%.
in my opinion I would leave it all on LTSB and direct your payments at LTSB to reduce the interest and outstanding balance.
I would use the offers on egg for a balance that you could be sure of paying off.ie car tax,house insurance or something else.it is upto you.
Don't forget there is also a transfer fee.
have a look at the other forums where the egg benefits are discussed.
hope this helps.