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Balance Transfer
bluespire2013
Posts: 15 Forumite
in Credit cards
is it worth transferring £1200 to 0.00 for 27 months 2.99 fee from a/c with lifetime rate of 0.4775% per month? I will be Ble to pay this off over 27 months. THANK you
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Comments
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bluespire2013 said:is it worth transferring £1200 to 0.00 for 27 months 2.99 fee from a/c with lifetime rate of 0.4775% per month? I will be Ble to pay this off over 27 months. THANK you0.4775% per month is approximately 5.9% APR. Beer-mat calculation means you would pay a total of about £75 interest on £1200 over 27 months (I think - but it's a long time since I was in school). £2.99 instead of £75.....hmmmm....Or I am over-simplifying this?0
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Thanks so i would save a little bit by doing it.0
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I'm pretty sure the fee will be 2.99% rather than £2.99 so just shy of £36 but still a reasonable saving.reliquit said:bluespire2013 said:is it worth transferring £1200 to 0.00 for 27 months 2.99 fee from a/c with lifetime rate of 0.4775% per month? I will be Ble to pay this off over 27 months. THANK you0.4775% per month is approximately 5.9% APR. Beer-mat calculation means you would pay a total of about £75 interest on £1200 over 27 months (I think - but it's a long time since I was in school). £2.99 instead of £75.....hmmmm....Or I am over-simplifying this?0
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