Balance Transfer Offer

[Fergie76]

I have two credit cards, one Barclaycard with a balance of £4230 and am currently paying £250 per month and a Capital One with a balance of £1550 and currently pay £154 per month. I think interest on both cards is about 30%.

I have three balance transfer options with Barclaycard 0% with a 1.9% fee until 1 Jan 17 (option 1), 0% with a 2.4% fee until 1 May 17 (option 2) or 6.9% plus a 2.9% fee until paid in full (option 3).

So it is my intention to transfer the Capital One £1550 to Barclaycard and increase the amount I pay to £400-450 per month, but was wondering would option 2 or 3 would be the best?

Thanks.

[nightwatch]

Re: Balance Transfer Offer

never was much good at meths, sorry Maths. option 2 would give you slightly longer to clear the transferred balance, but as long as you can make the payments each month to clear it,there's not much in it,

is there no 0% balance transfer cards that you could apply for instead of moving it to Barclays?

[Fergie76]

Re: Balance Transfer Offer

I only have an ok credit rating according to Noddle and Clear Score and am hopefully looking at buying a house shortly (have an agreement in principle), so don't want any searches on my credit report, until after that is sorted.

[nightwatch]

Re: Balance Transfer Offer

fairy nuff, choice is yours then xx good luck with the house xx