egg card bt

n6gers

hi my friend has a balance of £3000 on a credit card 15.9 % and she was looking to know would she save money if she put it on the egg card at 6 mounths interest free egg charge 2.5 % for balance transfer thanks

tesuhoha

The egg card is good because it also has a yearly anniversary offer of 0% for 5 months. I'd say the savings outweigh the bt fee but i could be wrong. Others will advise you.

n6gers

anyone know thanks

lynzpower

Basically on 3k it will cost her £75 Id imagine shed be paying that in interest elsewhere per month, so Im fairly sure she should do it.

CLAPTON

2.5% of 3000 is £75
15.9% of 3000 for six months is £239 although in practice it is difficult to achieve six months
however what is the APR at the end of the six months and how much is your friend paying each month

she may be better to try for a low life of balance card if she is only making modest monthly payments.

n6gers

she is paying about £100 - £150 a month and at the end off 6 months it will be 15.9%

CLAPTON

she would be better off if she could get a life of balance card at arround 5% but if she can't get one then, as the eventual APR of the egg card is the same as the current card she will gain by using the egg card

lynzpower

Or move the remaining balance to a new 0% at the end of the time, if she cant bargain down the interest with egg (always worth asking)