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Which card to switch
Wardie23
Posts: 2 Newbie
in Credit cards
I've got a card with £10k on at an ageeed rate of 6.9% for 2 years and one with £5.5k on at the same rate. I can switch £3.5k to a 0% but which one? Reduce the largest balance first or nearly get rid of the smaller one and clear the rest over the next few months?
0
Comments
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You don't say but assume the other card is at that rate for 2 years also?
If not then transfer the monies from the card with the least time at the low rate, if they are then it makes no difference.
Which would you consider better psychologically, nearing clearing one card which would then leave you having only one debt, or reducing the larger debt which might make you feel that you are making better inroads into Becoming debt free?0 -
Whichever one is most likely to give you a decent offer once the debt starts going down.0
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