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Not sure what card I need.
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andru
Posts: 125 Forumite
I'm not sure what type of 0% credit card will be best for me.
There is a possibility I maybe made redundant in the next few weeks/months. It's rumours at the moment but i want to make plans in case. I have 4k left on a loan @£517 a month therefore the max time will be 8 months. I can over pay any amount and plan to pay off as much as £1000 a month. I am looking for a credit card that will allow 0% spending on cash transfers if possible. IF I do get redundant then I plan to pay off the loan with it then reduce my monthly outgoings and pay off the card at a rate of approx £200 a month until it is cleared. Does anyone know which card would be best for this?
I hope I've explained it fully so you can all understand.
There is a possibility I maybe made redundant in the next few weeks/months. It's rumours at the moment but i want to make plans in case. I have 4k left on a loan @£517 a month therefore the max time will be 8 months. I can over pay any amount and plan to pay off as much as £1000 a month. I am looking for a credit card that will allow 0% spending on cash transfers if possible. IF I do get redundant then I plan to pay off the loan with it then reduce my monthly outgoings and pay off the card at a rate of approx £200 a month until it is cleared. Does anyone know which card would be best for this?
I hope I've explained it fully so you can all understand.
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Comments
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Money transfer card is what you need:
http://www.moneysavingexpert.com/loans/cut-loan-overdraft-costsI'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com0 -
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Sorry, that was a quick typo. At the moment I can afford to over pay up to a total of about £1000 a month.0
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Thanks, I've just applied and been approved for a MBNA transfer card that will more than suit my needs if the news is bad in the coming weeks.0
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You'd presumably be entitled to some sort of redundancy pay if the worst came to the worst, which could come in handy to settle some/all debt?0
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