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    • PollyWolly
    • By PollyWolly 12th Oct 19, 9:04 PM
    • 21Posts
    • 11Thanks
    Moving money to stay ahead of interest
    • #1
    • 12th Oct 19, 9:04 PM
    Moving money to stay ahead of interest 12th Oct 19 at 9:04 PM
    For me just now:

    Virgin cc 2.5k owed. 0% until January when interest kicks in. Currently paying 120pm.

    M&S 2.7k owed, 0% for another 20 month so not worrying about that just now and continue making payments of 80pm

    Barclaycard 550 owed and paying interest for a long period now, don't even know the rate. 50 a month being paid but it's not really making a dent.

    Argos card, 550 owed and interest paid for long period too, again 50pm being paid and an even longer road to get rid.

    Have just been accepted for 2.3k 0% for 16 month with MBMA.

    Virgin have now also offered a balance transfer of 0% for 12 month. Just now it's for the amount of my balance (credit limit they've given me to what I owe) of 1.1k.

    When setting up MBMA yesterday I transferred 500 to the Barclaycard to get rid of that.

    So what I'm wondering first is, my virgin interest is kicking in in 3 month, so can I transfer say 1.5k OUT of the owed 2.5k to MBMA for a week, then transfer so much of it back to Virgin and into the new deal they're offering of 0% for 12 month? Even though the offer is there just now, it will only last a few days and there won't be another offer for a while, this I'm sayin to watching their offers previously to me and is why I think taking it now is the right choice.

    Then do a money transfer MBNA to clear Argos?

    I hope this makes sense, it does somewhere in my head anyway.
Page 1
    • PollyWolly
    • By PollyWolly 13th Oct 19, 10:04 AM
    • 21 Posts
    • 11 Thanks
    • #2
    • 13th Oct 19, 10:04 AM
    • #2
    • 13th Oct 19, 10:04 AM
    Hiya. Have I posted this in the wrong thread or just so completely surreal that there are no answers? 😁😁😁
    • zx81
    • By zx81 13th Oct 19, 10:17 AM
    • 23,837 Posts
    • 26,507 Thanks
    • #3
    • 13th Oct 19, 10:17 AM
    • #3
    • 13th Oct 19, 10:17 AM
    You can BT out and then back again.

    There's a small risk that the Virgin limit would be cut in the interim.
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