What would you do?

Burnley_Lad

I have just cleared the balance of one of my credit cards. The person I spoke with said they have got an offer on at the moment for existing customers - 12 months interest free (ends September 2014), no balance transfer fee and 7.9% APR after the interest free period.

I have currently got a £2,000 balance on another credit card, and the interest free period ends in May 2014, with the APR rate being 15.9% when the interest free period ends.

I am not likely to be paying off the full balance of £2,000 before May 2014, so do you think it would be a good idea to transfer some of that balance to the other credit card. If so, how much?

[Deleted User]

All of it?

afly

Does that offer expire? Sensible thing would seem to be to move the whole balance over as late as possible before May. Even if it must be right now its a no brainer

I'd be going over the t&c's like a hawk tbh

Herbalus

Burnley_Lad wrote: »

so do you think it would be a good idea to transfer some of that balance to the other credit card.

Yes!

Burnley_Lad wrote: »

If so, how much?

All of it.

Though essentially what you want is that in May 2014 you owe no money to the card that charges 15.9% APR, so if you really wanted you could transfer everything minus the amount you can pay off to reduce the balance on that card. That'd make your minimum payments go up though as you'd have them on two cards.

chattychappy

I think I'd double check the deal!

Existing customer deals where it's 0% for 12 months and zero fee are pretty unusual.

Are you sure it wasn't a deal on (new) purchases?

Gold_bullion

I'd be amazed if they're offering you 0% on a BT with no fee these days. I haven't had an offer like that for years. New purchases, yes. Even new cards don't offer that. Which card is it?