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Daft question
tesuhoha
Posts: 17,971 Forumite
This is a daft question. I've got an extra £600 to throw at one of my cc debts this month. All of them are 0% but the choice is between either my Capital One Card and my M&S Money card. The 0% runs out in August on both and I owe £4174 on the Capital One and £3345 on the M&S card. I just cant decide which one to pay, the Capital One because its the highest or the M&S because it will be paid off first. Its purely for pyschological effect really as there doesnt seem to be any advantage. They will both be about the same APR when the 0% goes. What would make you feel better?
The forest would be very silent if no birds sang except for the birds that sang the best
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Id pay off the M&S one. Then it will be pretty much almost gone. then you only have one big one to overcome. I think that would make me feel better.
However, if they are both smaller, ie half of the money to each, would that make it more likely you could transfer two "smaller" ones onto another 0% card. I suspect it would. Anyone any other thoughts?:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0 -
Actually scrap that. throw to the M&S card.:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0 -
id deffo go for the m&s one - theres no greater feeling than paying off a credit card. when that final statement comes with a nil balance!!!!
Hurrah to self!!!!!!!!!!!!0 -
Thanks Lynz. Thats the way I am inclined so I can target it to be paid off first. I do have other cc debts but these are the 2 that lose their 0% first. Hope you are feeling a bit better.The forest would be very silent if no birds sang except for the birds that sang the best0
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Which one does the 0% end on first? Go for that one so there's no chance of you missing the end of the deal!!!Debt free 4th April 2007.
New house. Bigger mortgage. MFWB after I have my buffer cash in place.0 -
The thanks button has disappeared so thanks gazza too. My mind is made up now.The forest would be very silent if no birds sang except for the birds that sang the best0
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Thanks emmzi but they both end the same time.The forest would be very silent if no birds sang except for the birds that sang the best0
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Cool, gotta be M&S then
Glad you are having a better day today.
xxDebt free 4th April 2007.
New house. Bigger mortgage. MFWB after I have my buffer cash in place.0 -
If they are both on 0%, I would stick it in a savings account, and let it earn interest for you whilst your debt is 'free' so to speak... that is what I am doing with my overpayments towards my debt at the mo (its all on 0%)Highest Debt (Sept 04) -> £41,300
Debt Free - August 2006!!
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Hmmm, back to indecision.The forest would be very silent if no birds sang except for the birds that sang the best0
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