Help with choosing which credit card!!??

Hi

I have the odd debt floating around and would like to transfer all this onto one card. Debt includes other credit card, small loan, catalogue accounts. I've tried to read through the different cards that are available but I'm a bit confused.

Do I get a standard credit card with a 0% interest rate? Or would I apply for a balance transfer credit card?

Any help would be great!

Thanks

Replies

  • zx81zx81 Forumite
    35.3K Posts
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Forumite
    Neither. Sounds like you need a money transfer option.
  • MallyGirlMallyGirl Forumite, Senior Ambassador
    5.9K Posts
    Ninth Anniversary 1,000 Posts Name Dropper Intrepid Forum Explorer
    Senior Ambassador
    or a combination.

    A 0% purchases card could be used to cover normal buying so that you could divert the money you would have spent on those items to paying off debt. Slower but it can address loans and store cards like Argos that can't be settled by Balance Transfer (BT).

    A 0% BT card would allow you to transfer debt from another credit card and from some store cards but not all. It could not be used to pay off a loan. There will usually be a fee - a percentage of the amount transferred.

    A 0% Money Transfer card puts the money straight in your bank account so you can direct it where you like to pay off debt. There will be a fee - a percentage of the amount transferred - and the length of 0% is often shorter than with either purchase or BT.
    I’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
    & Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing [email protected].
    All views are my own and not the official line of MoneySavingExpert.
  • saver00saver00 Forumite
    2 Posts
    ahh I see thank you for the reply!
This discussion has been closed.
Latest MSE News and Guides

Who can suggest a top-notch bed?

This Forumite's mattress is in need of a base

MSE Forum

Top theatre lotteries

How to grab £10-£25 tix for Cabaret, Matilda etc

MSE Deals