Card Tarting?

jimcameron

Hi Guys,

I recently got accepted for a 'super' balance transfer card. Which i'm using to pay off my current account overdrafts. The 0% interest period is for 20 months - Would it be better to setup DD/SO's to pay off 1/20th of the the amount transferred per month over the 20 month period (therefore having zero debt at the end of the period). Or just pay the minimum (or little over it) and pass the remaining debt onto another BT card at the end of the 0% interest period? Should i worry that there might not be 0% interest BT cards in 20 months time?

Cheers
Jim

glawster_2

I'd be surprised if 0% cards come off the market.

Pay the minimum each month, put the rest of the payments into a savings account. Just before the BT period ends pay off the lot from what you have in the savings account and walk away with the interest you've earned from the savings account. Virgin do an Easy Acces E-saver at 2.85%, just £1 needed to open, or there is a 1 year saver with West Brom at 4.1% (min £10 a month deposit, 1 year term)