We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
To tart or not to tart?
Daddy_Bear
Posts: 25 Forumite
in Credit cards
I have run up a balance of £8,000 on a 0% credit card. The money is happily gaining 6% interest in a savings account until Dec and the 0% deal ends in March.
My question is whether I should pay off the credit card or pay £8,000 off my mortgage. My fixed rate mortgage is 5.49% and I'd only need to pay 3% for a balance transfer. I have this mortgage rate for another 2 yr and 3 months, what do people think?
My question is whether I should pay off the credit card or pay £8,000 off my mortgage. My fixed rate mortgage is 5.49% and I'd only need to pay 3% for a balance transfer. I have this mortgage rate for another 2 yr and 3 months, what do people think?
If national debt is increasing and we're in a global recession, who exactly are we borrowing money off? Aliens?!
0
Comments
-
Can you guarantee that you will get another 0% rate for the 8K in March ? If not, keep saving. After all, you don't want to pay 8K off the 5.49% mortgage then find you have to pay 13% or upwards on that 8K...
(obviously this was written by someone who is fairly risk averse
) 0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.2K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.2K Work, Benefits & Business
- 603.8K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards