Are there any downsides?
Hi, I have a BT Barclaycard with a balance about £1300.00, a DD to pay £40.00 a month and about 18 months left on the 0% offer. I was thinking that if I spend just under £40.00 a month on this card then the whole DD will go towards covering the spent because it is the interest incurring part of the balance. In this case the balance will remain relatively constant for the next 18 months when I'll either have to move it somewhere else or pay it in full. The overall balance of my CCs is not big at all so this won't hurt me in that aspect. Are there any downsides in doing this that I haven't thought of yet? I'm pretty much sure that such questions have been answered over the years so if someone feels uneasy of me asking again, please accept my apologies.
The journey of a thousand miles begins with one step.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors
- All Categories
- 341.8K Banking & Borrowing
- 249.7K Reduce Debt & Boost Income
- 449.2K Spending & Discounts
- 233.9K Work, Benefits & Business
- 606.1K Mortgages, Homes & Bills
- 172.5K Life & Family
- 246.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.8K Discuss & Feedback
- 15.1K Coronavirus Support Boards