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Should I transfer the balance
judy2357
Posts: 3,744 Forumite
in Credit cards
Trying to reduce our monthly payments and have two 0% credit cards, Cap one and Barclays. If I transfer the balance of the Barclays to the Cap One would the monthly payment be the lower than the two added together as they are. Thank you.
2008£3002009£13002010£15002011£41952012£21942013£1494
2014£24402015£10222016JAN£20FEB£210MAR£80APR£26tMAYWillowPouchBag£65BathPillowCrCardcover,Curry
JUN£10m'shakeJULpennywellAUGCameraFootproducts£27SEPMiniBBQOCTB'let£45Jarm£4Jacket£80GoodyBag£40NOVmealfor2Ace,ScarfTotes£100DECChocs,AsterixDVD,DVD&bk
JUN£10m'shakeJULpennywellAUGCameraFootproducts£27SEPMiniBBQOCTB'let£45Jarm£4Jacket£80GoodyBag£40NOVmealfor2Ace,ScarfTotes£100DECChocs,AsterixDVD,DVD&bk
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Comments
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Trying to reduce our monthly payments and have two 0% credit cards, Cap one and Barclays. If I transfer the balance of the Barclays to the Cap One would the monthly payment be the lower than the two added together as they are. Thank you.
Depends what their min payments are but, the real answer answer is not really!
You should try the Beans on Toast route to reduce both cards and pay them off faster.0 -
Minimum payments are £103 and £12 at present but I think you are right it wont make a difference, just a thought though. Thanks anyway.2008£3002009£13002010£15002011£41952012£21942013£1494
2014£24402015£10222016JAN£20FEB£210MAR£80APR£26tMAYWillowPouchBag£65BathPillowCrCardcover,Curry
JUN£10m'shakeJULpennywellAUGCameraFootproducts£27SEPMiniBBQOCTB'let£45Jarm£4Jacket£80GoodyBag£40NOVmealfor2Ace,ScarfTotes£100DECChocs,AsterixDVD,DVD&bk
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Barclaycard requires a minimum payment of 2.25% of the balance shifted, whereas Cap One asks for 3%. So, if you transferred the lot to C1, your minimum payment would be higher;)People who don't know their rights, don't actually have those rights.0
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...and don't forget the 3% BT fee Capital One would charge.0
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