Calculator?

frivolous_fay

Edit: this is now a moot point, but thank you for looking


My lovely O/H put an engagement ring on his credit card this month Now the card statement has arrived Not too much of a shocker but possibly worth putting on ice! We do have the money available which is currently earning 2.8%. (Not amazing)

Does anyone know of a calculator to tell me if it would be worthwhile using a balance transfer offer I have available? The fee is 3% and it would be 0% til October. If the benefit is peanuts then I'll save myself the trouble!

Also... can I take on a balance from a card in his name?

Many thanks

frivolous_fay

OK, a quick look which I should have done earlier unearthed this calculator
http://www.moneysavingexpert.com/cards/stooze-cash-credit-cards#calculator

If anyone knows about transferring debts between account holders I'd still like to know

Edit: Ok, the fee is over £50, more than the interest So I won't be bothering

aliasojo

You can transfer from your OH's account as long as your account and his are from different providers. So ok from his Barclaycard to your Halifax card for example but not from his Capital One to your Capital one iyswim.

Congrats on the ring.

frivolous_fay

Thanks Jo

I am moderately shocked that the balance transfer idea has worked out to be so pointless... see my 2nd post
Feel a bit stupid now... obviously the AER on the savings would have to at least beat the fee % to even have a prayer of making it worthwhile If only he'd asked me which card to put it on... ho ho... Actually the boy done good and it was a total surprise

YorkshireBoy

frivolous_fay wrote: »

OK, a quick look which I should have done earlier unearthed this calculator
http://www.moneysavingexpert.com/cards/stooze-cash-credit-cards#calculator

That's a very basic stoozing calculator (as MSE freely admit). For future reference, this one is much better...

http://www.stoozing.com/calc.php

It won't change the fact that this one's a non-starter for you though.