To BT or not to BT ??

Ginnser

Hi

I have 7k on Capital One at 6.9% life of balance, I have the offer of moving that 7k to Coop credit card at 5.9% for 6 months, but its got the 2% or £25 quid charge to move.

Question would it be better to move it a nd pay the £25/2% charge and them BT it back to Capital One once 6 Months is up? Captial Once will not chrage me to BT to them.

Cannot work out the maths !

Regards

Ginnser

Twopints

So you could save 1% of £7,000 - i.e £70, but it's only for 6 months so halve it - £35. If the balance transfer costs more than that, don't do it (is £25 a maximum ? ) ALSO, what happens when you transfer it back ? Does it still qualify for the life of balance rate of 6.9%?

Seems the best you can do is save a tenner, but only if there are no charges and you still get the 6.9% when it goes back. Why not apply for a 0% card transfer it there and save the whole 6.9% ?