£4K credit card...transfer it?

mini_lidi

Hi all,

I have £4K on my Halifax credit card and am paying it off roughly £6/700 a month. But the APR is around the 18% mark. So every month getting a small chunk added back on.
Therefore what are my best options to clear the credit card ASAP and the cheapest way.

I already hold 2 other CC both cleared and not been used for a while. Barclays CC (0 balance and not been used for years) and MBNA everyday card ( 0 balance not been used in months. Only used for a trip to USA)

I can transfer the balance to MBNA and only pay 8% APR or is there a better option??

[Deleted User]

A 0% BT would be a better option.

grumbler

mini_lidi wrote: »

...

I can transfer the balance to MBNA and only pay 8% APR or is there a better option??

You save very little by transferring to 8%.
The BT is likely to cost ~£120
You save on the interest (over ~8 months that you need to pay off £4K) ~£2000*(18%-8%)*8/12=£150

Possibly still worth doing if you can't get a 0% card.

Doctor_Duke

Have you tried the MSE eligibility checker to see if you might be suitable for a 0% balance transfer card?

tripled

Have you got any interest free balance transfer offers on your Barclaycard?

cheesetoast

Are any of the unused cards offering balance transfer offers?