Capital One offer letter 0% for 6 months - is it worth it for me?

Dazza

Hi all,

Received a letter from C1 this morning offering me 6 months 0% with a 3% fee. The letter quotes:

" Act now to be considered for 0% interst from after your September 2007 statement until your March 2008 statement. Please note you would pay interest at your current rate of 14.93 from the day a BT reaches your account until your Sept 2007 statement."

Bacisally I was wondering it is worthwhile for me to transfer say 2000k from a Nationwide card @ 15.9% and 2.9K from a cahoot card @ 10% into this 6 months deal?

Thanks for any help

Dazza

Milarky

With both cards you can at least balance transfer back the debt after 6 months for no fee. Also (this may not be for you) cahoot still treats bts like purchases - meaning that you can bt from 'A N other' card to cahoot for up to 46 days fee-free/interest-free provided you can pay the statement balance in full by the due date. Works best with a direct debit set up to collect the full balance.

On the capital one offer, it will save you money since 3% over six months equates to about 6.5% pa. On that basis alone you should use it.