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One account ??
Arryz
Posts: 1 Newbie
Newbie here
Hi advice needed , or any pit falls on a one account .
ive a 90k mortgage 50k interest only on endowment .
ive got about 6 years until the endowment matures giving me the 50k
ive got about 6k savings and monthly salary of 2k ...
Now I know the whole point of this account is to keep as much Money in it as poss to reduce the interest on the ammount owed .
so if i take this account but also take a credit card that offers me 0% on all purchase''S for 12months etc put all my spending on the card as i do at the moment (and at present pay off in full) would i not be getting this as an interest free loan but also saving the interest on my mortgage each month come the end of the year pay it off then take out another 0% card etc.. as at the moment with x2 cards we spend 20k a year ..
any thoughts ?
Hi advice needed , or any pit falls on a one account .
ive a 90k mortgage 50k interest only on endowment .
ive got about 6 years until the endowment matures giving me the 50k
ive got about 6k savings and monthly salary of 2k ...
Now I know the whole point of this account is to keep as much Money in it as poss to reduce the interest on the ammount owed .
so if i take this account but also take a credit card that offers me 0% on all purchase''S for 12months etc put all my spending on the card as i do at the moment (and at present pay off in full) would i not be getting this as an interest free loan but also saving the interest on my mortgage each month come the end of the year pay it off then take out another 0% card etc.. as at the moment with x2 cards we spend 20k a year ..
any thoughts ?
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