Credit Card vs Loan

afletcher30

We recently signed up for a timeshare and the application form included an application with Barclays for the loan on a credit card with a rate of approx. 18%. HMC Loans who are affiliated with Barclays have since sent me an application for a loan to pay off the credit card with their loan rate about 12.6%, however there are all sorts of admin costs (£50) transfer costs (£100) etc. etc.

I need to make a decision.

I thought I would keep the Barclays and transfer it to a 0% as soon as I have paid off my last 0%, this would result in a fee greater than the admin costs for the loan, but would mean that I would get a period of interest free.

What do you think I should do?

Rufus_348

Could you clarify your situation?

Do have a balance on the Barclaycard or are you just considering borrowing for the timeshare? How much are you/are you planning to borrow and over how long do you think you'll be able to pay it back?

Without this info it's quite difficult to give you advice.