What Would You Do?

simonleblank

I have got my CC debt down from £38,000 to £20,508. This has been achieved in a number of ways following advice from this forum. My current situation is:

£10,395 0% Halifax-1, finishes 5th June 05
£4,943 ?% Barclay, I pay £18 pcm interest but have to spend £25pcm
£5,170 3.9% Cap-One Life of balance

£20,508 TOTAL CC Debt

£3,500 Spare cash in the Bank

I have just got Abbey CC 0% 9 months for £9,500

I have just got M&S CC 0% 9 months for £7,000

I will only send off Abbey signed forms mid May For Halifax to max-out the 9m

I intend to BT the £4943 Barclay, The £10,385 Halifax and Cap-One £1,172 (leaving a balance of £4,000)

My cash in bank gives me a feel-good factor (Or a feel-less-worse factor!)

Should I put £3,000 into a 5.35% Abbey postal ISA? OR should I pay it against the Cap-1.
My worry is that come 9 months time, these kind of offers on 0% may not be available, hence should I keep the CAP-1. I can afford the payments for both ways. What would you do ? Egg nil Balance with £10k limit, aniversary November 05

Reaper

The cash ISA pays you more in interest than Capital One will charge you, so you would better off putting the money in the cash ISA.

realaledrinker

Slight downer is that Abbey are withdrawing their 5.35% ISA & replacing with one at 4.9% but there are better deals out there (A&L on-line ISA)

ps_live

realaledrinker wrote:

Slight downer is that Abbey are withdrawing their 5.35% ISA & replacing with one at 4.9% but there are better deals out there (A&L on-line ISA)

You could always put it into First Directs ISA at 6.25% until October. In October, review your options again

cheers

Pete

simonleblank

I understand you can get Abbey ISA 'till Saturday 30 April

fatboyonadiet

I'd sort out the Barclay's firts then the Halifax (once it run's out) best to stick all your cash in a high interest account and in November use your Egg for a BT if it's needed if not SBT it