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Loan or money transfer card
I'm having a new kitchen fitted in the summer. I've bought it from Wickes and I've managed to get it over 2 years on 0% interest. It will cost me £220 a month. My original plan was to borrow £10-11K but I decided the offer from Wickes was too good to miss out on.
I now have to find £6k to pay the builder and electrician. I will have £2500 saved by then but am obviously short by £3500.
The only debt I currently have is my car loan and my mortgage (I owe my parents £800 but that will be paid off by July). I've looked at a loan but because I want to borrow less that £7k the rates are 10% +++
Virgin (who I have my mortgage with) are offering a 0% money transfer card for 36 months with a 2.9% fee (which works out about £100). If I paid it over 2 years it would be £145 a month which is manageable along with my Wickes payment.
This seems a much better option than a loan. Can anyone offer me any words of wisdom? Would they offer me £3500 on the card?
I now have to find £6k to pay the builder and electrician. I will have £2500 saved by then but am obviously short by £3500.
The only debt I currently have is my car loan and my mortgage (I owe my parents £800 but that will be paid off by July). I've looked at a loan but because I want to borrow less that £7k the rates are 10% +++
Virgin (who I have my mortgage with) are offering a 0% money transfer card for 36 months with a 2.9% fee (which works out about £100). If I paid it over 2 years it would be £145 a month which is manageable along with my Wickes payment.
This seems a much better option than a loan. Can anyone offer me any words of wisdom? Would they offer me £3500 on the card?
0
Comments
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Its pointless taking a loan when a card with a low apr would be the better option.0
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Thanks. I've looked on the virgin website and they have pre-approved me. So money transfer card it is.0
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Hope you have a lovely kitchen at the end of it to show louby40. Before and after pictures wouldn't go amiss!
Savings as of April 2023 Savings account - £26460.50(14474.88)Current account - £2140.24(4576.79)Total - £28600.74(19051.67) £1010 (£65pm CS/BS) £250 CS/BS/JS0
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