Balance Transfer Advice Please

7roland8

Trying to clear our family debts but on benefits now its a slow job. Anyhow I have been moving sums around as best I can and wondered if anyone had the best solution for some balance transfers I have on offer at present.

The full figures owing are below -

Offers
Barclaycard offer a transfer at 7% for the duration of the transfer.
Capital One offer 0% for 9 months then 11.3%

I thought of ignoring the two lower amounts I owe on the Tesco and Amazon cards but of shuffing the figures around with the higher two or three.

I was thnking of moving the £1350 from Nationwide to Barclays and moving the Barclays (or some of it) to Nationwide - is that my best bet?

I've never liked the idea of all the debt on one card - though I suppose it doesn't make much difference.

Currently we pay the minimum on all the cards and overpay as much as we can on the Barclaycard each month.

Hubby leaves all this to me and I don't want to make a mistake and end up worse off.

Thanks in advance.

Owing
Barclaycard £3443 (19.9%)
Capital 1 £1984 (10.75%)
Nationwide £1350 (17 months from 1/4/11 0% - ends August 2012) then 15.9%)
Tesco £975 (9 mths 0% from Aug 2012 - then 16.89% I think)
Amazon £826 1.46% per month.

thenudeone

7roland8 wrote: »

TI was thnking of moving the £1350 from Nationwide to Barclays and moving the Barclays (or some of it) to Nationwide - is that my best bet?

Seems like a good idea as long as there is enough spare credit available. You may have to do it in several goes, during which time the offer might get withdrawn or your credit limit reduced, but it's still worth it.