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Moving loan to CC, worth doing or not?
Comments
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Well, I learned something today. Thanks all for the correction, apologies for my misconception
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Unless you can clear it in 18 months I am not sure it would be worth it as you need to take the balance transfer fee into account and if you cannot get a further 0% deal then you may need to BT it again or the credit card interest rate would be way higher than 5.9%. Personally for me that loan is too high to move on to credit cards. I would focus any extra money you have on paying it down quicker to save on interest.I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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