30%apr to 27.5% what's the savings.

Dandytf

Cap 1 276@30% apr

Is it worthwhile t/ferrying to Tesco bank@27.5 apr.

Not a great deal of savings I think though I could then close Cap 1 card.

What other mser's think?

molerat

£276 ?? The difference will hardly be noticeable, about 50p a month if the balance is not reduced.

Paully232000

Also, is there a balance transfer fee to take into consideration?

Dandytf

Thanks for the replays which make sense, I didn't; get the chance to check balance t/ferr fee visa Tesco before I posted.

I posted as I intend to bring both Cap 1 and Tesco to 0 balances if possible next 3mths.

I think I maybe more motivated if I t/fer to Tesco and close Cap. Card as I've recently got a 1000 limit via Luma, it's my way of avoiding multiple high limits which I did have prior to 2011.

Dandytf

Tesco 3% minimum balance t/fer fee.

Is it more sensible to continue to pay off Cap 1 then close i.e. No balance t/fer required?

TheShape

Dandytf wrote: »

Tesco 3% minimum balance t/fer fee.

Is it more sensible to continue to pay off Cap 1 then close i.e. No balance t/fer required?

You'll pay £8.28 to transfer the balance. If you're paying it off in the next three months that will be more than you'd save by transferring.

Dandytf

thanks for all replys

That's all my questions answered this evening.

I'll continue to pay cp1 with intention of closing it approx 2-3 months.

I set myself a 'limit' of no where near 1 months wage with total cc usage.

At least ive managed to get into my emergency only mindset this year, e.g. 1 tyre Luma card. Approx 50 paid 1 or 2 months time.
Cap 1 took the biggest use earlier this year during bathroom emergancy.

Tesco card is 137 -25 minimum payment If I find extra 10 or more that will also reduce.

Paully232000

Dandytf wrote: »

Thanks for the replays which make sense, I didn't; get the chance to check balance t/ferr fee visa Tesco before I posted.

I posted as I intend to bring both Cap 1 and Tesco to 0 balances if possible next 3mths.

I think I maybe more motivated if I t/fer to Tesco and close Cap. Card as I've recently got a 1000 limit via Luma, it's my way of avoiding multiple high limits which I did have prior to 2011.

Not worth the transfer, just keep paying the card you currently have if you intend to pay it off in about 3 months.