We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Timing balance transfers
JenSSW
Posts: 1 Newbie
I don’t know what to do for the best and am hoping someone on here has some advice or useful experiences to share.
I have 3 0% credit cards and the 0% periods finish next year (April, October and December 2020). I will be able to pay one of them off but I won’t be able to pay the balance off the other 2 by the end of the 0% periods. My original plan was to transfer whatever balance is left to another 0% card. I am also due to renegotiate my mortgage next Summer.
I’m worried my credit card debt and number of cards are going to have a negative impact on my mortgage agreement. I’m also worried that post Brexit I won’t be able to get a 0% balance transfer deal. I am working hard to reduce my debt and the balance owed but it is hard going.
Should I transfer now to stretch the 0% periods further or stick to my original plan and wait until next year? Any thoughts welcome!
I have 3 0% credit cards and the 0% periods finish next year (April, October and December 2020). I will be able to pay one of them off but I won’t be able to pay the balance off the other 2 by the end of the 0% periods. My original plan was to transfer whatever balance is left to another 0% card. I am also due to renegotiate my mortgage next Summer.
I’m worried my credit card debt and number of cards are going to have a negative impact on my mortgage agreement. I’m also worried that post Brexit I won’t be able to get a 0% balance transfer deal. I am working hard to reduce my debt and the balance owed but it is hard going.
Should I transfer now to stretch the 0% periods further or stick to my original plan and wait until next year? Any thoughts welcome!
0
Comments
-
Balance transfers will still be available post Brexit.
It's just pesto, croissants and pizza which will be banned0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.2K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards