Balance Transfer

Suzybeth

Hi

Appologies if this is in the incorrect place

I owe approx £1000 on a Thomas Cook Credit card and am looking to open a new credit card to transfer the balance on a 0%. I've looked at Martins advice and concluded that the Play.com one looks best for me.

I'm in the process of applying but wondering if I should make a payment onto the card before I get the new one.

There is a direct debit for approx 30 going out soonish but I was planning on paying off £250, my question is should I pay 250 off now or wait until I receive the new card

Thanks in advance

td_007

Suzybeth wrote: »

There is a direct debit for approx 30 going out soonish but I was planning on paying off £250, my question is should I pay 250 off now or wait until I receive the new card

Thanks in advance

Pay the £250 off, that way you will have £250 less to transfer and hence save £3.75 in transfer fees. It is not much but why pay when it can be avoided

YorkshireBoy

Assuming the Thomas Cook debt is interest bearing (why else would you want to pay a fee to shift it?) you'll also reduce the interest you're charged by them.