Credit cards - which is best

skysky69

I am not sure whether I have posted this in the right place or not but I put it here because I am a DFW so here goes.

I have at the moment got £7000 on a Tescos credit card which I transferred from all my other ccs at a rate of 6.9% fixed for the life of the balance with no transfer fees.

I am only able to pay the minimum amount at the moment which is £230.00 but have fixed it so that this is the amount that always goes out so won't always be the minimum.

I have been offered a M&S card and this is 3.9% fixed for the life of the balance but with a 2.5% handling fee - which is the better deal, should I stay or should I go to M&S (which may be irrelevant anyway as my credit limit may not enable me to transfer the whole balance but we shall see).

Your help is much appreciated.

bananakinz

Hi!

If you put the figures into http://www.whatsthecost.com/snowball.aspx and see when you'll be debt free, with the amount of interest you will pay in total

Idiophreak

hm, never used the snowball thing before, so not sure I did it right, but it seemed to indicate that you'd get there a month quicker on M&S.