📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

moving debt to credit cards?

studded_kitty
studded_kitty Posts: 10 Forumite
in Debt-free wannabe
So Ive heard people talk about moving debt onto interest free credit cards?

Does this work?
If so how does this work
How many credit cards?

Comments

  • VitaK
    VitaK Posts: 651 Forumite
    I've been Money Tipped!
    edited 10 May 2012 at 4:58PM
    You pay interest on your debt. You pay a balance-transfer-fee to transfer to an interest free credit card (Note that the cards do not stay interest free forever).

    It is favorable when the interest you would have paid is greater than the balance-transfer-fee.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.4K Banking & Borrowing
  • 253.3K Reduce Debt & Boost Income
  • 453.8K Spending & Discounts
  • 244.4K Work, Benefits & Business
  • 599.6K Mortgages, Homes & Bills
  • 177.1K Life & Family
  • 257.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture