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Transfer or pay balance off

in Credit cards
13 replies 1.5K views
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  • edited 27 August 2018 at 11:31AM
    onlyfoolsandparkingonlyfoolsandparking Forumite
    1.8K Posts
    1,000 Posts Third Anniversary Name Dropper
    edited 27 August 2018 at 11:31AM
    !!! wrote: »
    Because £12k is no small sum of unsecured debt to be owing


    It's small to me!


    I have over £150k in credit limits available to me and I use about 20-30k at any one time depending on what I am buying etc so that's around 15-20% utilisation,12k on a card at 3.9% for life!!, small to me.


    Everyone's different, if a person can't afford to make a payment then £100 on a card is BIG. Fortunately I CAN afford to have 12k on a card I just like interest free and value for money.
  • It's small to me!


    I have over £150k in credit limits available to me and I use about 20-30k at any one time depending on what I am buying etc so that's around 15-20% utilisation,12k on a card at 3.9% for life!!, small to me.

    In fact, it could have been inferred from what you wrote :rotfl: I mean, one doesn't get a 16k+ limit with 3.9% APR unless s/he can definitely afford it.

    10-20% utilization/available balance is great! Kudos to you and all your hard work.
    Your cholesterol levels are not seen, or used, by your heart and arteries, so ignore it.
    :eek:.
  • gionnetto wrote: »
    In fact, it could have been inferred from what you wrote :rotfl: I mean, one doesn't get a 16k+ limit with 3.9% APR unless s/he can definitely afford it.

    10-20% utilization/available balance is great! Kudos to you and all your hard work.


    Yes I can see how it would look from my first post, I would always prefer to have no card debt but I don't like using my own cash and borrowing on a card if done well can work out very cheap and comes with bonus S75 protection.


    I don't know if my limit of £16k+ is good or bad, I have a £25k limit on my Halifax card but thanks for the post.
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