Offer with Halifax

magpies79

Is it possible someone could help me out with some maths please I’m shocking lol
I currently have this offer available 

It’s also the same offer for money transfer I have £1000 left to pay on my closed Zable card that doesn’t except balance transfers currently paying £65 a month so my thinking is do the money transfer pay if off but what would my interest charge Be a month at 5.9% 

thanks as always 

sammyjammy

no it would be 5.9% divided by 12

magpies79

Oh right told you I was terrible lol so is that not far off 0% offer again sorry if these are stupid questions there’s a reason I work on the railway and not on anything that’s to do with maths or working out lol

eschaton

It depends on how long you need the money for. If 12m then go for the 4% fee, if longer go for the 5.9%. 

Worth looking at other banks. I’d never pay fees so only do BT’s on 0% fee free cards. 

Santander and NatWest are my usual destinations for 12m. Recently Virgin were doing 13m but I didn’t want to add another bank so went with Santander. Monthly payments are also only 1%. 

magpies79

Ok thank you for clearing that up for me 

saajan_12

How long do you need the money for? 
* If 6 months, then £1000 @ 5.9% pa x 6/12 = £29.50 interest, better than £40 fee. 
* If 8 months, then £1000 @ 5.9% pa x 8/12 = £39.33 interest, around same as £40 fee.
* If 12 months, then £1000 @ 5.9% pa x 12/12 = £59 interest, worse than £40 fee.
* If 12 months, then £1000 @ 5.9% pa x 24/12 = £118 interest. The 4% fee option would have terminated so depends on what offer you get at the time.