Barclays balance transfer

Granville23

I have £3800 on another card and need to bt it ASAP, I have barclaycard 0 balance and they are offering 0% bt @ 3.9% for 19 months which is roughly £148, in the scheme of things is this a cheap loan for the 19 months. I have the funds To pay it off but will reduce my cash flow considerably, I am also at present unemployed due to redundancy.

Just like to here other people's opinions.

Thanks

InsideInsurance

Granville23 wrote: »

bt @ 3.9% for 19 months which is roughly £148, in the scheme of things is this a cheap loan for the 19 months. I have the funds To pay it off but will reduce my cash flow considerably, I am also at present unemployed due to redundancy.

What are your employment prospects looking like?
What interest are you getting on your savings?
How long will your pot of monies last you if you dont get employment?

Job market in some areas is very strong at the moment, others its still terrible. If you are highly confident of finding new work and can last a fair length of time without it then paying it off makes sense as I doubt you are getting close to that in savings rate.

Obviously if the market is worse in your area/industry then it may be prudent to do a BT to ensure your pot of money lasts long enough even if the long term is better to pay it off now instead