Can one use the old card after transferring its balance to a new 0% card?

julie777

2e0arr said:

julie777 said:

Does anyone know if the minimum repayments will be more or less than his current card.
I'm thinking they could be higher if they want him to pay off within 16 months?
But if it works much the same as most cards they will not require that - in which case the required 
monthly amount would be lower as no interest. He will pay as much as he can of course but I don't want to 
encourage him to take a card that will demand way more than he can manage.

Julie how much do you need to loan him  ?if he is a real friend why not clear his debt as a gift instead of a loan ?

I wouldn't be able to clear his present debt . I am not that wealthy.
Also he is relatively young and it's good that he learns a lesson about minimal use of credit cards and also
have the self-esteem from essentially getting himself out of trouble by his own efforts (as far as possible).
The other factor is that what's mine is also my husband's so I wouldn't just give it away unless he was fully on
board.

2e0arr

follow your husband avoid this friend be smart