Minimum repayment on a Money Transfer credit card

bumblingbee_2

We are having some work done on the house and will be short by £3000, which we'd planned to use a money transfer from a 0% interest credit card. This will just be until next summer when we re-mortgage. Our monthly outgoings are already tight, so before I apply, does anyone have any idea what the minimum monthly repayment would be (approximate)? Given that we plan to pay the whole debt off next summer, I'm not too bothered about reducing the debt, we just need a cheap way of borrowing until then. Many thanks

jayII

Most of ours are 1% of the balance (including balance transfer fee), so approx £30 on a £3000 balance.

Our Tesco card is 2% of balance.

They should have their minimum payment % in the T&C when you apply for a card.

bumblingbee_2

Great! Thanks so much. Stupidly hadn't thought to look in the terms and conditions! Just checked and you're right - 1%. Thanks again

molerat

[STRIKE]Anywhere between 1% and 2.5% seems to be the norm. Read the T&Cs[/STRIKE]. Have you factored in the MT fee ? If it is for purchasing large items then a purchase card could be better / cheaper.

edit : cross posted.