Not Tarting just trying to save

Fishmanboy

I have a debt of £3 K on an egg card, after reading Martins tips and not being very 'up' on the world of finance I have applied to move the debt to a Texaco card. As I said in the title of the thread I'm not 'Tarting' just trying to save a bit of interest.
Have I done the right thing? or should I have gone for 0% with all the catches it brings ?
::)

Shinds

mate,

You want to go for a 0% card - So you don't have to pay any interest

However don't just apply for loads of cards in one go.

Apply for just one or two first.

Another tip - Say for example you bank with HSBC.. - Go for their 0% Credit card - As if you are a good customer they won't even do a credit search (this way there is no footprint left on ur credit history)

HTH

Fishmanboy

Thanx,

I'll go 0% then ;D

funkymonkey

always go 0% it saves you money! never give money to these companies.

me and my partner have around 10K on cards so

opened new halifax one card - 2k at 0%
Will transfer barclaycard balance to MBNA @ 15%
Will transfer Egg Balance to Barclaycard @ 2.9%
Then transfer MBNA to Egg @ 14%

pay off egg first then barlcaycard then halifax!

that way you pay less interest and clear the debt quicker!

and smiles all round!

Reaper

opened new halifax one card - 2k at 0%
Will transfer barclaycard balance to MBNA @ 15%
Will transfer Egg Balance to Barclaycard @ 2.9%
Then transfer MBNA to Egg @ 14%

er... that doesn't make sense ???

To summarise what you just said:
MBNA -> Egg -> Barclaycard -> MBNA
So you just move the money round in a circle? ???
Shouldn't you include the Halifax card in there somewhere?

funkymonkey

you are right - it doesnt, lol (and that is why i am in so much debt!)

barclaycard (1) to halifax @ 0%
MBNA to Barclaycard (1) @ 2.9%
Barclaycard (2) to MBNA @ 15.9%
Egg to Barclaycard (2) @ 2.9%
MBNA to Egg @ 14.9 %

i think thats right......