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Halifax Cash Transfer - Newbie Question!
Stroodlebug
Posts: 1 Newbie
in Credit cards
Hi all
I'm new to all of this and trying to cut my debts slowly but surely. I currently have a Halifax credit car with approx £1500 on it that I'm paying interest on. I have had a letter saying I can have a cash transfer for 0% for 9 months. Is there anything stopping me from taking £1500 out and then paying it back off the card to make my debt interest free?? I do have the credit available on the card...
Thanks in advance guys!!
I'm new to all of this and trying to cut my debts slowly but surely. I currently have a Halifax credit car with approx £1500 on it that I'm paying interest on. I have had a letter saying I can have a cash transfer for 0% for 9 months. Is there anything stopping me from taking £1500 out and then paying it back off the card to make my debt interest free?? I do have the credit available on the card...
Thanks in advance guys!!
0
Comments
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Nothing to stop you doing that at all.
It won't be really interest free though - as they'll be a balance transfer fee to pay instead, but it may well still save you some money (depending on how much your current APR is, how quickly you will pay off the debt anyway and what the balance transfer fee is).A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0
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