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Confused re credit card shuffle and interest rates
MissyS
Posts: 24 Forumite
in Credit cards
Hi
My H and I have the following credit card debts
Card Balance Limit Current APR 0% offers received
Capital One 7600 8000 19.9 for 9 months
MBNA 7600 9100 0 til Oct for 12 months
Bcard 10250 14900 0 til Dec for 12 months
HSBC 0 2750 for 23 months
So what I thought I would do is transfer 2500 from Cap one to HSBC making it 0% and then 4500 from cap one to Bcard making that 0%. Then move MBNA balance in Oct to Cap one making it 0% and then in December move 7500 from Bcard to MBNA if the 0% is still available.Does that sounds sensible?
If I do this then in December I will then have 4500 on the Bcard which will be 0% until Dec 2013 and probably 9000 left on the Bcard which will not be 0% - if I transfer 7500off the Bcard at this point as planned will it be the 0% balance that transfers off or the balance that is no longer 0%??? Does that make any sense at all?
Sorry for the muddled post and thanks for any help
My H and I have the following credit card debts
Card Balance Limit Current APR 0% offers received
Capital One 7600 8000 19.9 for 9 months
MBNA 7600 9100 0 til Oct for 12 months
Bcard 10250 14900 0 til Dec for 12 months
HSBC 0 2750 for 23 months
So what I thought I would do is transfer 2500 from Cap one to HSBC making it 0% and then 4500 from cap one to Bcard making that 0%. Then move MBNA balance in Oct to Cap one making it 0% and then in December move 7500 from Bcard to MBNA if the 0% is still available.Does that sounds sensible?
If I do this then in December I will then have 4500 on the Bcard which will be 0% until Dec 2013 and probably 9000 left on the Bcard which will not be 0% - if I transfer 7500off the Bcard at this point as planned will it be the 0% balance that transfers off or the balance that is no longer 0%??? Does that make any sense at all?
Sorry for the muddled post and thanks for any help
Consumer debt £18,897 left / £33,729
LBM December 2019
Hoping to be debt free by May 2022!
LBM December 2019
Hoping to be debt free by May 2022!
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