transfer or not?

slowlinda60

Hi

I have a citibank card with a balance of £150 at 5.9% for LOB. My credit limit is £1500 and I have been offered balance transfer of 9.9% until November. I was going to transfer balance of a higher interest card. The problem is that at the end of the time the rate goes to 24%. If I hadnt paid it all off would everything revert to 24% or would any of it remain at 5.9%.?

Rafter

Depends on the terms, but Citi probably pay off your lowest interest rate balance first - so there would be none of your 5.9% balance left and any of the balance you transfer at 9.9% would get repriced to 24% unless you could move it elsewhere.

Suggest you only transfer as much as you know you will be able to pay off in the next 5 months.

R.