Quick advice please! Confused!

refereeeye

I have a credit card with a £2,500 balance on. The interest rate on it is 18%.

I need to buy a couple of items worth approx £1,000.

Shall i buy them with this credit card - and then secure a new 0% card (like the Nationwide one) to transfer the new, fuller balance of £3,500?

Or, shall i apply for the 0% card first - transferring the existing £2,500 on it - and then buy the £1000 worth of goods on this.

I'm worried that if i buy the £1000 of goods on the £2500 - i may get rejected with the 0% offer - and then end up with even higher interest payments.

Any advice please - I'm a newbie! :money:

lisyloo

Are the items essential or discretionary?
Best advice would be to save up and wait, but without knowing what they are it's difficult to offer advice.
But generally it's a VERY good idea to live within your means.
This is not only because of lower interest costs, but also you don't get into issues if you get sick or made redundant.

SCO

refereeeye wrote: »

I have a credit card with a £2,500 balance on. The interest rate on it is 18%.

I need to buy a couple of items worth approx £1,000.

Shall i buy them with this credit card - and then secure a new 0% card (like the Nationwide one) to transfer the new, fuller balance of £3,500?

Or, shall i apply for the 0% card first - transferring the existing £2,500 on it - and then buy the £1000 worth of goods on this.

I'm worried that if i buy the £1000 of goods on the £2500 - i may get rejected with the 0% offer - and then end up with even higher interest payments.

Any advice please - I'm a newbie! :money:

Best applying for new card first. Dont buy the goods on the new card as this would be classed as purchase not balance transfer. If you get the new card buy the goods on the current card and transfer the 3.5k over.