0 percent. next move?

wellsy07

My Barclaycard 0 percent finishes in March
5k limit, paid it down to 350.quid,
Is it worth switching it to my other cards; virgin or Halifax
Who both have balances on Halifax 250, virgin 1844
But have 0 percents until march 2015 and December 2015

Or if I leave it will just revert to a standard card, I'm a bit confused
On how the intrest operates after the 0 percent.so while o have time
To make moves I am hoping your wisdom can show me the way

I had planned to clear the barclsys card this month but
Paternity pay packet has killed that idea.iv Got some decent cash coming in after
March but it's the run up to that which im a bit if a crossroad

Any advice or opinion would be hugely welcome! Thank you

forgotmyname

It will revert to the cards standard rate.

If you switch it as in a balance transfer there will probably be a fee. Are the other spends 0% on purchases?

Use the 0% free card for shopping from now til march and use the shopping money to clear the card completely. No fee then.

wellsy07

The Halifax is a spend and transfer, virgin is not a spender but
Has a existing customer deal for transferring until January
For new transfers, that my payments would favour
That new balance first as opposed to the 1844 already there

Just to clarify, I understand reverting to being intrest card
But the intrest is 18.9% per yesr so divided per month/statement?
Or am I misunderstanding how intest kicks in?

If it's only going to be small intrest a month, I thought maybe foucus
On the larger balance for a bit? Or is that unwise?

YorkshireBoy

18.9% APR equates to 1.4531% per month, so a little under 3% for 2 months. How does this compare to the BT fees you'd pay to shift it to one of your other cards?

longtermplanner

wellsy07 wrote: »

My Barclaycard 0 percent finishes in March
5k limit, paid it down to 350.quid,

You said it was down to £253 when you posted about the 0% expiring a couple of weeks ago - are you spending on this card?

wellsy07

Had a unforseen expenture, which as I get paid on 28th
It was one I couldnt afford outright.so onto the card it had to go
So I will be paying a chunk off on pay day. But not all as it wouldn't leave much cash short term until march when I'm getting a small inheritance
But I wont be able to clear it as planned beforehand due to the 2 weeks paternity pay Being so poor,
Because iv made some bad decisions in past I'm finally
Seeing what genuine people say rather than just Google articles.

longtermplanner

ok, but you are trying to switch TINY balances. As I said on the previous thread, it's really not worth the hassle as the monthly interest on c. £250 is peanuts.

I can't tell if you have lost sight of the bigger picture here and are obsessing about small stuff that really doesn't matter because everything will be fine in a few months OR if you really have a crisis looming.

Unforeseen expenditures and just about to have a new baby suggest that you may be approaching crisis territory and you are try to avoid addressing this. If this feels like it might be you, then you need to sit down with your partner and look at a very realistic Income / Expenditure sheet. if this doesn't look good, then you need to ask for help now before disaster strikes. Call National DebtLine or Stepchange.

wellsy07

That's the answer that's cleared the cloud on my mind

I was overtinking the intrest , as I'm so determined to have the balaNces
All low, Iv been getting a bit drowned with reading abiut
How intrest rockets after the 0percrnt, and I guess that's
What's really been my bug bear of using the deal wisely but not
Getting burned.

Unforseen wouldnt of been a problem but as a monthly paid
Job it's been 6weeks since pay packet hence the low funds.
Just one if them freak UN foreseens that ess much more important
Than other things in life, all good noe though! : )

In two months it will all be settled,it's just I Just over think everything
and hate it when I gey stung

Thank Yiu for the answer, its ticked all my concerns in my plan