Overpay or money transfer?

weeperson

Hi everyone,

Looking for some advice please....

I (very stupidly) took out a loan in August 2014 with BOS to consolidate various debts = £6000 at 12.9%.
This would not have been my only option as i have a good credit rating but i was pre-approved and didn't think it through properly

Luckily its a flexible loan so since then and since i have no other debt, i have been making large overpayments and the settlement figure today is £2473 (=£2898 overpaid).

I have overpayments plotted to continue and based on this my end date is May 26th 2015 (39 months early).

However, I've been reading about money transfer cards and have done the eligibility checker and think i would get this at 4% so the transfer fee would be £100.

My question is:
Will I save more than £100 in interest if I transfer now and pay off the 0% card in the same time frame, or am I as well just continuing with overpayments until end May? I've been saving pennies galore for these overpayments so don't want to pay a £100 balance transfer fee if its not beneficial (says the girl who took out a loan at 12.9% APR!!!!! :mad: - I've had a LBM believe me!)

Interest per month is £50ish but this is reducing as the balance does..... ! Will the answer depend on when i make the rest of the overpayments?? If so it's too much for my head to work out I'll be paying this as follows:

End Feb - £800
End March - £450
End April - £400
End May - £400
(There may be a small balance leftover but I've had to work it out as I go and will add to the May OP if need be to ensure £0 as at 26th May).

The biggest risk i see is i may not have quite the same motivation if it moves to 0% but I'm determined to get rid once and for all :j

Any thoughts?

Thanks :beer: