would you class a 0% debt as a bad debt?

postingalwaysposting

cards arrived with £750.00 limit :eek: :eek: :eek: anyways i am still like :think:

izzybusy23

postingalwaysposting wrote: »

if you were able to get a 0% deal on a relitively low balance (ie under £200). However you had that balance sitting in a saving account earning 5% interest will the debt then become 'good' debt? Obvously you would pay the debt before the deal ran out? or will it be easier just to pay by savings?

Hi there

I have £500 on a 0% credit card for the next 12 months and have £1000 in savings. I am earning 6% interest on that grand so when the time comes to pay off the £500 I would had made £60 towards it.. so no, not a bad debt when the savings outweigh it.