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Rate for Life?
amj236
Posts: 18 Forumite
in Credit cards
Can someone help please I have a barclaycard with a great limit and I want to transfer a 4,500 balance to it the only offer they are giving me at the moment is 6.9% for the life of the balance? How can I work out what my monthly payments would be. Have got a good credit file but cant seem to find a card that will offer me 0% with the transfer limit I need. Thanks in advance.
0
Comments
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You multiply the statement balance by the minimum payment percentage!How can I work out what my monthly payments would be.
So, assuming you won't pay a BT fee and there's exactly one months interest to be added, your first minimum payment will be:
£4,500 + (£4,500 x 0.5576%) x 2.25% = £101.81
Where 0.5576% is the monthly equivalent of 6.9% APR0
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