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el-supremo
Posts: 11 Forumite
in Credit cards
Just rang HBOS to shut down my old credit card. They are offfering me 3% fee on a balance transfer then either
4.9% for the life of the card
or
0% for 6 months
It will prob take me about 18 month to clear he balance completely.
What should I take? 0% and try and get 0% in 6 months time with my current Credit Card provider?
or just settle on 4.9% for life of card? what does 4.9% work out as per month on a balance of say £1k?
4.9% for the life of the card
or
0% for 6 months
It will prob take me about 18 month to clear he balance completely.
What should I take? 0% and try and get 0% in 6 months time with my current Credit Card provider?
or just settle on 4.9% for life of card? what does 4.9% work out as per month on a balance of say £1k?
0
Comments
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4.9% on life of card or life of balance?Bank Accounts - Barlcays Premier[/B] - £1000 o/d, HSBC - £200 o/d- First Direct - £500
Credit Cards - Barclaycard £2000 - Silver Card £1300 - Flybe £7500 - HSBC £1000 - First Direct £2500 First Direct Gold £3000
6 credit accounts closed in 2010!
Official SOS Club number 001 - Dry until 01.07.100 -
If you have a good CR go for )% deal then BT somewhere else in 6months if they cannot extendBank Accounts - Barlcays Premier[/B] - £1000 o/d, HSBC - £200 o/d- First Direct - £500
Credit Cards - Barclaycard £2000 - Silver Card £1300 - Flybe £7500 - HSBC £1000 - First Direct £2500 First Direct Gold £3000
6 credit accounts closed in 2010!
Official SOS Club number 001 - Dry until 01.07.100 -
I dont know for sure if it is life of balance or card but I wont be using the card anyway it will be gettingbroken up.
Howmuch interest would I be repaying on 4.9& per month?
I do not have a clue how it works.0 -
el-supremo wrote: »I don't know for sure if it is life of balance or card, but I won't be using the card anyway. How much interest would I be repaying on 4.9% per month?
Why not plug some numbers into this credit card calculator?
http://www.whatsthecost.com/creditcard.aspx
You can then estimate the time it would take to clear the balance using cards charged at different interest rates. You can also see the effect of increasing your payments by a few pounds
People who don't know their rights, don't actually have those rights.0 -
Cheers mate!0
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A pound a week interest approx..0
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