Half Balance Transfer Query ?

loobyloo168

Hi Everyone.

My OH applied for balance transfer from Intelligent Finance to Santander as the were doing a 0% interest on B/T's.

We had £5200 in IF paying £100 a month but habing £50-£60 added on in interest, as we had the card for about 3 years.

We got the new CC today which says Credit Limit £3100, so were presuming this is all that was transfered from IF.

Me and the OH are trying to work out which CC we pay more to each month now ? I say the IF as thats what were paying interest on ? But hes not sure, we can afford £100 for the IF card and £50 for the new santander card (as long as that meets the minimum payment ?).

Next month ill be earning an extra £100 a month so im thinking about chucking this on to the IF card aswell.

I think the OH is disappointed that they didnt take the full amount and now were left with 2 cards but i did explain to him that they would have only taken 95% anyway, and that unlike before we just have to shred the cards not spend on them like we did with the IF card !!!!

He cant see its better to have at least some on an interest free than having all of it on a card paying interest on.

I just want the stuff we pay interest on paid off and not hanging round our necks. Feel so useless !!

[Deleted User]

You're right, and your OH is a being a buffoon. You should pay the min on the Sant-and-Dec 0% card and as much as you can at the IF.