Want 0%BT card to fund current account - NOT MBNA one, my options?

CannyJock

tirlittan wrote: »

What I was thinking was getting the Santander Zero card and Egg Money card, so being able to transfer the money to current account. Obviously I'd need to get both for this to work and therefore, which way would it be better to apply for them or at the same time?

If the objective is to get funds into your current account, personally I would stick to the SBT cards you originally asked about. To use the Egg Money and Santander Zero cards you're relying on 2 successful applications - it makes little difference which order you apply for them because if you don't get both you can't do what you're talking about - but if I had to apply for them, I'd apply for the Santander first to try and get the largest credit limit possible.

tirlittan

Ok, thanks, I need to go back and check and think about it. The objective is to get funds into my current account, otherwise it doesn't really work for me atm.

EDIT: Went back and just read the earlier posts in the thread. I got bit confused about who was talking about what, but will now go and have a look at the SBT cards. Thanks CannyJock.

YorkshireBoy

tirlittan wrote: »

The objective is to get funds into my current account...

The full objective was to get funds there for less than a year wasn't it?

Why pay 3-4% for something you could get for a 1% fee?

Post #4 gives the cheapest option if 10 months is long enough (you didn't answer the question posed).

tirlittan

Will have a look at the M&S thing, if it's 0% without the interest I could probably do it in 10 months. Thanks for pointing that out again,so much to think about.

tirlittan

Ok, I went to read online on this thread http://www.stoozing.com/forum/YaBB.pl?num=1159043738/15
that YorkshireBoy supplied on another thread, so if I'm correct, I need to apply for a &more card with M&S? Then I can buy the TCs and off I should be. This sounds good.

tirlittan

Ok,so haven't done anything about this yet. And I started thinking about my options today and I think I need to give more of a background on what I'm trying to achieve. This is the whole story.

So I have around £4k on S.loan and near enough £5,800.00 on CC. I can't afford to have 2 cc's even if the other one is 0%. I did my transfer to Virgin life of balance in October (?) last year,so credit check has been made.

Now, even if I leave s.loan where it is, it should be paid in Nov/Dec this year, but with 7% interest till then.
One way I can pay this off earlier is to apply for M&S &More card, buy travellers cheques which are 0% with 1% fee, pay them into my current account and pay off s.loan. Obviously depends on what credit limit I'd get.

Second option is applying for the Santander Zero card, 0% balance transfer, 0% fee and transfer Virgin CC on that. It's 15 months so say it would take me to May '11. I wouldn't be able to pay all of it off, but by that time other options should be available. Again, depends on what credit limit they'd give me.

So don't know what to do...Then today I was thinking, I would save 6.9% pa on interest on the £5,800.00 (I could pay off about £2440 before end leaving balance of £3800) so should I apply for Santander Zero? And if I get it and it'll cover the whole £5,800.00, could I then still try for the &more card and pay my s.loan off if I get it?

Thanks.

CannyJock

tirlittan wrote: »

So don't know what to do...Then today I was thinking, I would save 6.9% pa on interest on the £5,800.00 (I could pay off about £2440 before end leaving balance of £3800) so should I apply for Santander Zero? And if I get it and it'll cover the whole £5,800.00, could I then still try for the &more card and pay my s.loan off if I get it?

Keep it simple

Pay as much as you can off the highest APR debt using the cheapest finance available.

The cheapest finance is the Santander 0% card with 0% fee for existing Santander/A&L customers. You can only use this to pay the virgin C/C.

Apply for that first. Then apply for the &More card.

tirlittan

That's what I thought. Thanks. Will update how it goes.