credit card transfer ADVICE

cesami

OK I am gonna be completly honest...I NEED HELP!

I have 3 credit cards: £368.06 Balance on MINT, £1603.72 on MBNA and £3139 on BMI. WHAT do I do? I am only currently paying the minimum payment on all three cards. The Deals that the companies are:

MINT - 0% on balance transfer for 6 months and a 3% transfer fee and I can transfer £3496.00.

MBNA - 0% balance transfer until 11.11 and agind 3% transfer fee.

BMI - No deal.

Do I transfer the MBNA onto MINT? Or leave it as is?

I AM IN DESPERATE NEED OF ADVICE

MANY THANKS IN ADVANCE

[Deleted User]

How about -

MINT to BMI (no fee)
MBNA to MINT
BMI to MBNA

So you end up with everything on 2 0% cards, with the majority on the longer deal. Depending on your limits of course.

cesami

Thanks for the advice. Do you agree its best to try and knock it down to 2 cards and pay the transfer fee rather than interst of a third card?

[Deleted User]

I would think so. You're shifting over £5k to 0% for an average of 9 months, for a 3% fee. Depending on what your current rates ares, you're probably paying something like 2% a month at present?