We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Minimum repayment on a Money Transfer credit card
Options

bumblingbee_2
Posts: 3 Newbie
in Credit cards
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
0
Comments
-
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.[FONT="][FONT="] Fighting the biggest battle of my life.Started 30th January 2018.
[/FONT][/FONT]0 -
Great! Thanks so much. Stupidly hadn't thought to look in the terms and conditions! Just checked and you're right - 1%. Thanks again0
-
[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.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.8K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.8K Work, Benefits & Business
- 598.7K Mortgages, Homes & Bills
- 176.8K Life & Family
- 257.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards