Fed up

wigglers

I have £333 of a 6k limit I can transfer to the 0% virgin card should o transfer another 300 off the Halifax card while I can get a 0% deal?

wigglers

Also now that the capital one and barclaycard are clear should I ring them to close the account or will that affect my credit in the future?

[Deleted User]

wigglers wrote: »

I have £333 of a 6k limit I can transfer to the 0% virgin card

Not understanding this :huh:

Are you saying you have £333 of debt, on an interest charging card, which you could BT to a 0% Virgin card?

Or are you saying your have £333 of available space on a 0% Virgin card, onto which you could BT £333 of debt from an interest charging card?

LandyAndy

wigglers wrote: »

Also now that the capital one and barclaycard are clear should I ring them to close the account or will that affect my credit in the future?

Yes, close them, it won't affect your credit.


An important part of dealing with them is not starting to use them again.

wigglers

Yeah I have already done a BT for 5500 which is the barclaycard and capital 1 to 0% virgin card but have 333 available space on virgin card

[Deleted User]

Whether to BT another £333 to a 0% card, will depend on how much interest you will save, compared to how much you will pay in fees to BT it.

That will depend on the current APR, and the rate at which you are currently paying it off.

wigglers

I'm lost?? lol I have my Halifax card with 780 on at 20% butI could BT 300 odd at 3.5% then it would be 0% until April 16

wigglers

Ok it won't hurt my credit to close the account but will it look better than leaving it open? at some point we would like a mortgage

[Deleted User]

wigglers wrote: »

I'm lost?? lol I have my Halifax card with 780 on at 20% but I could BT 300 odd at 3.5% then it would be 0% until April 16

OK, this may get a bit complicated, but stay with me.

Firstly, put the current details (of this one debt) into the Snowball Calculator, and see how much interest it'll cost (at your current rate of paying), to clear it.

Next, put in the current amount, minus the amount you wish to BT, together with the monthly amount you would pay, after you had BTd.

Make a note of how much less interest you would pay.

Is the interest saved, more or less, than the charge for BTing?

If it's more, BT.

If it's less, don't BT.

wigglers

mega lost!! lol