Paying for car on CC, then Balance Transfer - fee's?

longwalks1

Silly question i think, but not with it today, am paying a balance of £2.5k on a credit card tomorrow for payment of a car, but wont be able to clear it completely for maybe 5 months, so would it be better to transfer it to a new 0%BT card i have for 13 months, or leave it on my 'everyday' ccard (LLoydstsb duo)

What will work out cheaper overall?

Thanks in advance

YorkshireBoy

Two and a bit months at circa 1.3% per month interest = one 3% BT fee does it not?

ie, you're 'in pocket' at some point during month 3.

longwalks1

Thanks Yorkie, sorry im dim today, bloody night shifts so it'll be cheaper for me to BT it @ 3% if i wont be paying it off before 3 months?

Thanks again

YorkshireBoy

Yes, but make a little money along the way by only paying the minimum on the 0% card and saving the rest.

That way, the interest earned will go some small way towards the cost of the dealer's card fee(?) and the BT fee.

longwalks1

Thanks again, whoops forgot to say yes the dealer is charging 2.5% fee

YorkshireBoy

Might have been cheaper to make the purchase via an SBT card money transfer then...for a 3-4% fee only. Then again you'd have had no section 75 protection so you've probably gone the right way.