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LoAn v credit card
Princessmissy
Posts: 1 Newbie
in Loans
Hi there any help would be appreciated.
I currently have a loan with sainsbury's and there is 3 years left on the loan and a settlement figure of £3850.
I have a mortgage at the moment and hope to move soon and would be looking to increase my mortgage. I know this debt will affect my mortgage increase and I also have the option to transfer the balance onto a 0% credit card for 12 months.
What I'm wondering is what is my best option? Do I continue with the loan or transfer to credit card which is 0% and allows me to pay more towards it. Which is considered a better debt to the bank?
Thanks
M
I currently have a loan with sainsbury's and there is 3 years left on the loan and a settlement figure of £3850.
I have a mortgage at the moment and hope to move soon and would be looking to increase my mortgage. I know this debt will affect my mortgage increase and I also have the option to transfer the balance onto a 0% credit card for 12 months.
What I'm wondering is what is my best option? Do I continue with the loan or transfer to credit card which is 0% and allows me to pay more towards it. Which is considered a better debt to the bank?
Thanks
M
0
Comments
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Depends if you can super balance transfer/ pay by CC to get rid... either way, a debt is a debt.. I could be wrong but I don't think it makes too much difference if its a CC debt or a Loan0
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