Advantages of a balance transfer credit card versus a credit boosting credit card?

Inquisitive62

Hello, I have been offered either a balance transfer credit card of 0% interest for 6 months or a credit rate boosting credit card. They are both with the same company and there is not much in the two APR's, therefore, I don't know which would be the best for me. I want to transfer a catalogue balance of about £500 because the monthly instalment is mostly interest and it is pretty steep. However, after clearing a couple of debts, I want to start repairing my credit history. I hope that makes sense and any thoughts or advice on how I should proceed would be greatly appreciated? Thank you for your help!!:money:

glentoran99

Inquisitive62 wrote: »

Hello, I have been offered either a balance transfer credit card of 0% interest for 6 months and a credit rate boosting credit card. They are both with the same company and there is not much in the two APR's, therefore, I don't know which would be the best for me. I want to transfer a catalogue balance of about £500 because the monthly instalment is mostly interest and it is pretty steep. However, after clearing a couple of debts, I want to start repairing my credit history. I hope that makes sense and any thoughts or advice on how I should proceed would be greatly appreciated? Thank you for your help!!:money:

There is no such thing a "credit boosting card" they are simply known as that because you can get them with a bad credit record and paying a card off in full each month will help repair that, Its a no brainer get the 0% otherwise you will be paying interest on the transfer, however you may not be able to balance transfer a catalogue debt

Inquisitive62

glentoran99 wrote: »

There is no such thing a "credit boosting card" they are simply known as that because you can get them with a bad credit record and paying a card off in full each month will help repair that, Its a no brainer get the 0% otherwise you will be paying interest on the transfer, however you may not be able to balance transfer a catalogue debt

Hello, thank you so much for such a quick reply! Thats interesting! So if I can transfer a catalogue, how do they work out how much I pay each month, excluding the interest? Call me dumb, but, I just can't get my head around it!

glentoran99

Inquisitive62 wrote: »

Hello, thank you so much for such a quick reply! Thats interesting! So if I can transfer a catalogue, how do they work out how much I pay each month, excluding the interest? Call me dumb, but, I just can't get my head around it!

Will be a percentage of the balance, will be detailed in the terms of the card