Balance Transfers with Charges

edited 30 November -1 at 1:00AM in Credit Cards
2 replies 917 views
mountainofdebtmountainofdebt Forumite
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edited 30 November -1 at 1:00AM in Credit Cards
Is there a web site that I can use to see if its worth making a balance transfer to a card but incurs a charge based on the amount transferred?

I've had a number of offers through recently offering a lower rate than I ma paying now but with this charge and I can't work out whether or not it is worth it.

Thanks
2014 Target;
To overpay CC by £1,000.
Overpayment to date : £310

2nd Purse Challenge:
£15.88 saved to date

Replies

  • ReaperReaper Forumite
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    Not as such, but the transfer charge is the easy bit as it is a one-off.

    If you intend only paying the minimum back (not recommended) then this calculator can tell you how much your repayments will be with each different card. Then you just have to consider the BT fee when you have the results.

    You might also like to look at the snowball calculator on the same site.
  • mountainofdebtmountainofdebt Forumite
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    Part of the Furniture 1,000 Posts Combo Breaker
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    This is very useful...as you can probably gather we have hefty balances on credit cards and this will help us get our act together!

    (In fact I know of someone else who will be grateful as well!)
    2014 Target;
    To overpay CC by £1,000.
    Overpayment to date : £310

    2nd Purse Challenge:
    £15.88 saved to date
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