balance transfer query

northern_monkey_3

i have £1400 on one of my cards which I intend to bal transfer

anyone good at maths?

i have 2 options

- 0% bal trans fee but 5.9% rate
- 3% bal trans fee (£42) however better rate of 3.9%

I intend to pay off at £150 a month

i reckon 2nd might be best but am i right?

thanks in advance
ben

CLAPTON

to repay 1400 at 5.9% paying 150 per month will take about just over 9.6 months and cost approx 1440

to repay 1400 at 3.9% etc will take just over than 9.5 months and cost 1,425 but you also pay bt fee of 42

Clariman

I have written a Balance Transfer Calculator designed to answer questions like this. It should help.

Clariman