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Help with Balance Transfer
Ikpo1979
Posts: 21 Forumite
Hi,
Dont want this to be a long story so I'll keep it as simple as possible.
I have a bad credit record ( defaults from a few years ago). I have 2 credit cards that I am paying interest on & have recently been accepted for a Capital One credit card with 0% on balance transfers till may. I already have another Capital One card with about £450 (and I understand that I wont be able to transfer this balance to my new Capital One Card).
The other card I have is a Barclaycard and the balance on that is approximately £2300.
I am currently paying about £40 a month off my Capital one card and about £60 a month off my Barclaycard. I cant really afford to be paying much more than this.
Can anyone give any advice on how best to use the 0% facility on my new capital One Card. Obviously i need to have cleared the Balance transfer card off by May before the extortionate interest rate is applied to the balance.
Dont want this to be a long story so I'll keep it as simple as possible.
I have a bad credit record ( defaults from a few years ago). I have 2 credit cards that I am paying interest on & have recently been accepted for a Capital One credit card with 0% on balance transfers till may. I already have another Capital One card with about £450 (and I understand that I wont be able to transfer this balance to my new Capital One Card).
The other card I have is a Barclaycard and the balance on that is approximately £2300.
I am currently paying about £40 a month off my Capital one card and about £60 a month off my Barclaycard. I cant really afford to be paying much more than this.
Can anyone give any advice on how best to use the 0% facility on my new capital One Card. Obviously i need to have cleared the Balance transfer card off by May before the extortionate interest rate is applied to the balance.
0
Comments
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Hi,
Dont want this to be a long story so I'll keep it as simple as possible.
I have a bad credit record ( defaults from a few years ago). I have 2 credit cards that I am paying interest on & have recently been accepted for a Capital One credit card with 0% on balance transfers till may. I already have another Capital One card with about £450 (and I understand that I wont be able to transfer this balance to my new Capital One Card).
The other card I have is a Barclaycard and the balance on that is approximately £2300.
I am currently paying about £40 a month off my Capital one card and about £60 a month off my Barclaycard. I cant really afford to be paying much more than this.
Can anyone give any advice on how best to use the 0% facility on my new capital One Card. Obviously i need to have cleared the Balance transfer card off by May before the extortionate interest rate is applied to the balance.
What's the limit on the new card?
What is the minimum payment on the new card? 1%,2%2.5%?
Don't forget you also need to factor in the BT fee. What is it?DEBT FREE AND PROUD
'Better to remain silent and be thought a fool than to speak out and remove all doubt'0
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