Help with sums! Balance transfers to get better rates?!

Anwen_2

Hi all, if anyone could help me work out if the following is worth doing, it'd be great!

Right, I have the cards listed in my sig (I think that shows the APR, if not they are all currently on 0% and will go up to around 15-16% in late Nov/early Dec). the HSBC card can apparently offer me 9.9% APR on a 'competitor balance transfer' for six months, but there is a 2% fee (blimey, didn't know they did those on non-0% offers!) so I don't know if it'd be worth it. I have applied for a couple of 0% deals and been refused, hence looking at this one.

So, my current credit limits/balances are:

£1817 on HSBC, new credit limit of £3500
£1850 approx on Egg, credit limit £2050
£1050 approx on JLP, credit limit £2000

Would it be better to transfer as much as possible from the HSBC to the other two cards (so that would be about £900 to the JLP and £170 to the Egg) then back the other way, plus BT around £1600 from the Egg to the HSBC, which would mean tehre was still around £777 at 15.9% on the HSBC underneath the amount at 9.9%, and there would also be a total of about £80 in charges? Or should I just leave the cards as they are?

What I mean is

£1817 - £900 (moved to JLP, £18 fee) - £140 (moved to Egg, £5 fee) = £777 balance on HSBC
£1990 balance on Egg
£1950 balance on JLP

Then £1950 (£39 fee) from JLP plus £700 from Egg (£14 fee) moved back to HSBC in addition to the balance of £777, which would be stuck at 15.9%.

Oh, except I'd be doing all this in late October when another two monthly payments will have gone so the balances should be at roughly
1450
1775 and
980

So, er... £950 to the JLP (£20 fee) and about £200 to the Egg card (£5 fee) and I guess I could probably shift the other £250 to Egg Money for a day or two. Then £1930 back from the JLP to HSBC (£38) and about £1500 back from the Egg cards? (£30) So I'd have the following balances, more or less

£3430 (might leave it a bit lower) on HSBC at 9.9% for six months, after which back to 15.9%
£320-odd on Egg card. (including the fees, like).

Is it worth it? I've had a bit of a play at whatsthecost.com and I *think* that the interest savings would be less than the fees paid...

Snaggles

Hello! Bit complicated for me I'm afraid (at this time of night and after half a bottle of red wine ) but will bump so someone (hopefully someone with a clearer head) can have a look and see what they think.