What is the Cheaper Option?

DCooper7

Hello,

Apologies.I think I've posted this in the wrong area...



I was wondering if I could get an answer please...

I have to pay a very large vet bill. I was going to put it all on my credit card. My friend has very kindly given me their credit card details for a part payment of £1000.

Would he accrue less interest if he payed the £1000 direct to the vets on his credit card, or if I put the whole bill on my credit card, and he payed off part of my credit card total, online? (the total is just the vet bill)

So basically, would he be better off paying the vet or gifting me the money (or would it not make a difference).

Thank you in advance.

PRAISETHESUN

You are right - this would probably be better off on the credit card board, not the stoozing board. You might want to delete and re-post this there.

I assume you are intending to pay your friend back but strictly speaking your friend would pay less interest if they didn't chip in at all - but that is because you would be responsible for the debt instead of them. It will ultimately depend on the interest rates of your credit cards as to which is most cost-effective - lower rates (obviously) mean less interest to pay. It might be worth considering a 0% purchases card, but make sure to use an eligibility checker to see what cards you may be able to get.