Which one to pay into?

Cyrus

Looking for a bit of advice.

I have two credit cards on the go moment:

CC 1 - £4076 0% interest and spending until July

CC 2 - £2013 0% interest until November

I'll be getting a bonus from work in a couple of weeks and will probably be about £1500 after tax/ni/student loan.

My question is which credit card do you think is best for putting the bonus into?

I will be doing a balance transfers on both these cards at some point to continue my 0% interest run.

Thanks in advance.

getmore4less

none, stick it in savings and get some interest.

pay the min payment till the rate changes from 0%

Cyrus

Is it worth it for 5 months?

weebit

what will the rates be after the 0% ends?

Cyrus

Think around 18% but not really sure as I have no desire to still have the card when that happens.

Bublin1

If you're going to move them both onto a 0% after the end dates then I would pay down on cc2. That way you have one card that is nearly all paid off. Debt busting rules are always to pay off the smallest balance first.

Cyrus

Bublin1 wrote: »

If you're going to move them both onto a 0% after the end dates then I would pay down on cc2. That way you have one card that is nearly all paid off. Debt busting rules are always to pay off the smallest balance first.

Cheers mate.

getmore4less

Cyrus wrote: »

Is it worth it for 5 months?

yes.

it's less to transfer when the time comes.

the real rate is not 0% as you have transfer fees every time you move the money.