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2 cards have arrived at once!

bittennails · 2004-12-16 14:36:06

Dear All I'd welcome some advice. I've already got a credit card with a balance on it at zero percent interest. This introductory rate ends in January. I applied for one card (HSBC) to transfer this balance to, but the process was taking quite a while, and I was also doubtful they'd give me a large enough credit limit, so…

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Martinslovechild Posts: 1,560 Forumite

18 December 2004 at 1:39AM

1. Keep all the cards.
2. Max them out.
3. Stooz the lot into a High Interest Savings Account.
4. Pay minimum payments only on the 0% cards until the BT end date.
5. Repay the full balance from the Savings.
6. Pocket the Interest.

Mortgage Feb 2001 - £129,000
Mortgage July 2007 - £0
Original Mortgage Termination Date - Nov 2018
Mortgage Interest saved - £63790.60
ISA Profit since Jan 1st 2015 - 98.2% (updated 1 Dec 2020)
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