proper planning prevents poor performance

Wilkco123

Hi, before anyone asks, I know I've got ages to wait, but 'proper planning prevents poor performance'

I started my 1st steps to Snoozing recently and applied for a Money Transfer card with MBNA, I got £3000 interest free for 24 months, the money came in today and I've transferred it straight to a recently opened TSB Current Account which is offering 5% on the £2000 and I put the remaining £1000 in a savings account which is offering 1.2%.

My question is, I don't know what to do once the Money Transfer offer ends. Do I;

* Pay off remaining balance and open a 0% purchase card
* Pay off remaining balance and open a 0% Money Transfer card
* Balance Transfer the remaining balance and continue to pay minimum until offer ends?
* Or is there any other options I haven't thought about?

Your thoughts will be greatly appreciated.

Candyapple

All 3 choices depend on your circumstances in 2 years time as to whether things have changed in your life (e.g applying for a mortgage therefore would need to clear debt) and also whether money transfer and balance transfer cards will still be available and if they are, if the fees will make it worthwhile continuing carrying on stoozing.

Out of interest, how did you transfer £3k when your limit was £3k and you're only allowed to transfer 95% of your balance?

YorkshireBoy

Wilkco123 wrote: »

'proper planning prevents poor performance'


I put the remaining £1000 in a savings account which is offering 1.2%.

These two statements don't sit well together.

mrs_T

1.2% is a poor performer, one option is to open the linked 5% tsb monthly saver and transfer the £1000 in at £250 a month.
http://www.tsb.co.uk/savings/monthly-saver/