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.

Thoughts wanted on BT offers

I have £2000 I'd like to BT.  I have the money to pay it off if needed.

One credit card offering 0% interest 3.5% fee for 18 months  so on £2,000 would be  £70 fee.  Could put this money in an 18 month bond at 6.05% AER so I calculate at the end of 18 months It would be £2185.16.  So taking the fee and the capital off of this I would potentially make £115.16 over 18 months. which works out roughly £76.77 for a year but  minimum repayments would lessen this amount.  Min repayment on this card is 2.5% so at the end I'd still have about £1200 ish to repay.

Another credit card is offering 5.99% interest 0% fee for 24 months so in a loan calculator I have calculated the amount to be repaid over 2 years WITH minimum repayments of £88.55 to clear the balance to lessen the interest chargeable after 2 years is £2,125.23.  If I put this £2000 in a 2 year bond currently available at 6.05% AER then after 2 years this £2000 would be £2249.32 .  So I would potentially make £124.09 over the 2 years which works out roughly £62.04 yrly.

I think I'd be better taking the second option but I would welcome other peoples thoughts .

Thank you


  • owl1999
    Personal preference but I would probably go with the first one just so I've got a smaller amount to pay off each month as it would feel like a much larger monthly expense. 2.5% would be £51.75, which is nearly £27 less than the second option. You could save the £27 each month and gain interest on that too

    After the 18 months I'd either pay it off as a lump sum or balance transfer again depending on my circumstances and interest rates/current offers etc, maybe top it back up to £2,000 with £800 from another purchases credit card (if you want to do some more stoozing)
Meet your Ambassadors


  • All Categories
  • 344.6K Banking & Borrowing
  • 250.6K Reduce Debt & Boost Income
  • 450.4K Spending & Discounts
  • 236.8K Work, Benefits & Business
  • 610.6K Mortgages, Homes & Bills
  • 173.8K Life & Family
  • 249.5K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards