cash or balance transfer - what;s the catch?

Flugelhorn

Am looking to get 0% rate for about 6.5k - (reduced it from 12.5 so getting there)

Barclaycard have offered either 0% to July 2014 for 3.9% fee as a balance transfer
or as cash to current account 0% to October 2014 for 2.9% ... is it OK to take the cash and pay the other CC off? - looks cheaper ? or is there a catch?

Cycrow

you would have thought it would be the other way around.

just make sure you are reading it correctly first, but you might as well go with the one with the lowest fee

[Deleted User]

If your figures are correct, then the cash option would be cheaper. Though that is unusual.

The only potential catch is if your go to rate on cash is more expensive than the BT rate, which would make it more expensive after the promo period.

Paully232000

I feel like i am promoting this card as just mentioned it in another thread. :-)

But try Lloyds TSB, BT 15 months with a 1% fee, or 21 months with a 1.5% fee. Better than the one you are looking at

Flugelhorn

Thanks for comments all - looks like I am reading it right and seems better deal with cash!
Cheers for note re other card paully - v good deal but have decided I will stick to the two I have and avoid applying for any more (too much temptation)

pjread

was that an advertised deal, or an existing customer one? (14 month 0% cash for 2.9% sounds crazy?)

Paully232000

Flugelhorn wrote: »

Thanks for comments all - looks like I am reading it right and seems better deal with cash!
Cheers for note re other card paully - v good deal but have decided I will stick to the two I have and avoid applying for any more (too much temptation)

More sensible than I would have been in the past, although am now down to 3 CCs :-)