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A&L credit card promo rate?
sashanut
Posts: 3,252 Forumite
in Credit cards
Hi all
Just hoping this doesn't sound too stupid for someone to give me a little help with this one
We have several credit cards with large balances ( M&S, Egg x 2, Virgin, LLoyds TSB x 2) & are now in the process of snowballing to pay off all the debts. Have just paid off the 2 smallest cards (with the highest % rates) & now need to tackle the bigger guns. Do have a Virgin 0% deal that is coming to an end this month & would love any help to get some of the debt onto 0%, even for a short while I am sure it would help.
We have managed not to rack up any more debt on the cards for some time now; & as I said am actually managing to pay off some of them. Now for my stupid question........ In the past DH had an A&L credit card, CL was for £9700. Interest rate was huge so it was one of the first ones we switched onto another card & never used it again.
Just recently they have been sending DH letters to say 'You have a promotional rate of 0% on card purchases' until Oct 09. Now they do not mention BTs anywhere so presumably this 0% is just for things bought on the credit card, which we don't want to do. Is there any way i can use this to my advantage or should I leave well alone?? TIA for any advice:D
Just hoping this doesn't sound too stupid for someone to give me a little help with this one
We have several credit cards with large balances ( M&S, Egg x 2, Virgin, LLoyds TSB x 2) & are now in the process of snowballing to pay off all the debts. Have just paid off the 2 smallest cards (with the highest % rates) & now need to tackle the bigger guns. Do have a Virgin 0% deal that is coming to an end this month & would love any help to get some of the debt onto 0%, even for a short while I am sure it would help.
We have managed not to rack up any more debt on the cards for some time now; & as I said am actually managing to pay off some of them. Now for my stupid question........ In the past DH had an A&L credit card, CL was for £9700. Interest rate was huge so it was one of the first ones we switched onto another card & never used it again.
Just recently they have been sending DH letters to say 'You have a promotional rate of 0% on card purchases' until Oct 09. Now they do not mention BTs anywhere so presumably this 0% is just for things bought on the credit card, which we don't want to do. Is there any way i can use this to my advantage or should I leave well alone?? TIA for any advice:D
New start JAN15 - NOT BUYING IT 2015 :eek:. Long haul DFW #145 : 2011 DEBTBUSTING : £5500 OD GONE, £2000 OD - GONE £93,610.30 cc & loan debt - GONE 27.6.14 FINALLY DEBT & MORTGAGE FREE :happyhear
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Comments
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If interest rate is still huge I would leave it alone,if not use it for purchases but pay every penny into cards wi higher apr. if they put apr up in October ask to close card on existing aprI have a deep burning indifference0
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