Credit card balance transfers - help needed please

judi24

Ok credit card balance transfer question - bear with me its a bit complicated (hence the reason I can't work out what to do!) but I have no doubt some bright spark on here will be able to make sense of it!


I have been offered a 0% balance transfer on my Barclaycard but only until 1st May 2015 however I have very little spare balance to use. I have an empty Nationwide CC with 12.9% APR.
My balance on the Barclay card is £1038 at 6.89% (LOB) and £5345 at 17.88% APR. My Tesco CC has a balance of £4549 at 16.9% APR


My question is should I:


Transfer the £5345 of the barclaycard to the Nationwide (fee is 2.4%) then move the balance on the Tesco card to the Barclaycard (fee 1.9%)


I am paying around £800 a month off the credit cards - so not sure it is worth paying the fees or should I just keep paying down the balances hoping that Nationwide might offer me a better rate at some point!!!


Confused!!!

rehanmalik3030

Sounds like a good plan you have I would go with it!

judi24

Thanks I'm just struggling to work out whether I will pay less in fees to do the transfers than the interest I would pay of i didn't and just paid sown the balances where they are.

Williamsze

I think you area planed all, but i have only one credit card from Alliance Bankcard , so i have not any requirement for Credit card balance transfers. but your plan is so good plan , on future i will go with it. thanks