First time Stoozing - advice?

Mimi_Arc_en_ciel

Hiya,

I’m confusing myself. Can someone help?

I’ve recently had to use some money out of my TSB savings account (which was nearly at £2k) and have also now got a CC (0% balance transfers for 24 months providing I move them within 60 days of account opening and also I have 6 months 0% on purchases) credit £5700.00

I have:

Natwest CC – Balance £700 (I use this monthly, anything up to around £900 but I’ve since opened Barclay card so wont be using this account any more as its APR% - I’ll max the card on “usual” things then balance transfer it to Barclay card)

Halifax Acc – for household bills

TSB Acc 1 – yearly bills – Balance £1800

TSB Acc2 – “Savings” account – Balance £700.00 (Had to take money out of this account, was near £2k)

Each month I put £350.00 into TSB Acc 1 (Yearly bill money) so I now need to move some of the money to keep the balance below £2k


Each month into TSB Acc2 I put £55 to save.

I also take £200 a month from my “normal” account for grocery shopping each month. Because the CC is 0% for 6 months i plan on putting the £200 into the TSB 2 acc each month and leaving it there until 0% runs out.

Because my CC is now 0% the normal monthly payments of (Average) £625.00 can be put in an account until the CC is due for payment to earn interest.
I assume I need to open a new account? Santander? But what do I do because Santander is interest over £4k. Do I move all my money from TSB into Santander and build TSB back up?!

So confused. Thank you in advance for any advice.

MallyGirl

1st point - be careful mixing BTs and 0% purchases on the same card. Your 56 days free on a card depends on you clearing it in full each month. If there is an outstanding BT balance on there then you won't be clearing the balance in full so after the 6 months 0% purchase you should stop using it for purchases, pay off the final purchases and just make the minimum payments on the remaining BT balance. You will need to make this payment each month to keep your 0% deal.
Use the Natwest normal card after that for purchases and pay off in full each month for your (up to) 56 days interest free.