cheap loan from credit card

steve17_2

I've foollowed martins guidance and got the above from a british airways amex card at 4.9%, and I've put the money against my offset mortgage at 5.2% (calculated dailey),just so I know I'm on the right track, can anyone confirm if I pay the minimum amount each month on the amex card, and dont touch the money thats offset, I will be making a profit.

grumbler

steve17 wrote:

...can anyone confirm if I pay the minimum amount each month on the amex card, and dont touch the money thats offset, I will be making a profit.

I can . The profit is about 0.025% :eek: of your Amex balance every month (0.3% of the average balance p.a.)