Should i BT to capital one?

mom23

Hi have not posted on here for a while as have had probs one thing after another:eek:
Anyway am now trying to get back on track.
OH has just been accepted for cap 1 ( 0% for 18 months) and i was going to bt our barclaycard balance of 3000.00 as this has the highest interest!
I have read what i can on the boards but am still not sure if i am doing the right thing (Do not want to get any deeper in debt) am a bit thick when it comes to understanding apr etc (wouldn't be in the mess we are in if i wasn't lol:rotfl: )
Are there any downsides!
Just want reassurance really
Thanks in advance

Jessiepig

We have just done this and spent the £100 to get 18mths 0%.
We looked at all the options and how much interest we might pay on the £100 plus the balance transfer fee and it still looks a very good deal for 18 months.

CLAPTON

how much is the balance transfer fee
how much is the APR on the barclaycard?

but probabaly will be a good deal.

mom23

CLAPTON wrote:

how much is the balance transfer fee
how much is the APR on the barclaycard?

but probabaly will be a good deal.

Balance transfer fee is 2%
Barclaycard is 19.9%:eek:


Jessiepig
There is no mention of spending a 100.00 in 1st 3 months i have seen this mentioned on post's before, but i have read and reread the conditions and cannot see it mentioned

Jessiepig

Well maybe you do not have to now but we have only just done ours in the last month. The condition was 6mths 0% or spend a £100 in the 1st three months then 0% for 18 mths.
Have you looked at the online website.

Jessiepig

Just checked website and it looks like they have changed the offer but jan 2008 is less than 18 mths so swings and roundabouts

mom23

Jessiepig wrote:

Well maybe you do not have to now but we have only just done ours in the last month. The condition was 6mths 0% or spend a £100 in the 1st three months then 0% for 18 mths.
Have you looked at the online website.

Hi yes only applied last week and it's actually untill jan 2008 so not really 18 months

CLAPTON

balance transfer fee will be 60 but your savings are potentially in the hundreds of pounds (it depends how much you pay off each month) so seems a good deal to me.

ps i've looked at the capitalone web site and see no reference to spending 100 over the first 3 months (i'm sure it was like that but must have changed)

all_hours

Check that you will be able to manage the minimum monthly payment. When I had a capital one card my minimum payment for 5% per month - but that was the card for people with a poor credit rating.