Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

0% Credit Card

Options
  • 16-03-2005 2:07pm
    #1
    Tash
    Closed Accounts Posts: 1 ✭


    Hi,

    I currently have a MBNA credit Card with a balance of €1,300.00 in credit. The last few payments I have made have just basically paid the interest so I can't seem to get the debt lower. :( I have heard that I can transfer my balance to other credit card companies for 0% for 6 months but I don't know who they are. Has anyone got any suggestions?

    Thanks a mil


Comments

  • Options
    #2
    MrPudding
    Registered Users Posts: 9,788 ✭✭✭MrPudding


    Most will have a sweetner to get you over. Ulster Bank offer 9 months interest free on their normal card and 6 on the zinc card. I think 6 months is fairly standard.

    MrP


  • Options
    #3
    JTMan
    Registered Users Posts: 5,540 ✭✭✭JTMan


    Tesco will give you 6 months free and pay your 40 Euro tax.


  • Options
    #4
    Merrion
    Registered Users Posts: 1,421 ✭✭✭Merrion


    If you think you can pay 1,300 off in 6 months get a bank loan and do just that - the intrest will be quite small.
    If you don't think you can pay it off in 6 months then transfering to the interst free thing is going to encourage you to ignore the problem and be no better off in the long run.

    I got to stg. 10,000 before the above became plain to me.


  • Options
    #5
    kazzer
    Registered Users Posts: 865 ✭✭✭kazzer


    Be aware that you may have to apply for the credit card first, and then the balance transfer later. The bank may not give you a sufficient credit limit (i.e. €1300 for you) at the end of it all.


  • Options
    #6
    is_that_so
    Registered Users Posts: 32,136 ✭✭✭✭is_that_so


    0% is Ok but you will have to give up using the card plain and simple to clear it otherwise you think your bill is low and you'll spend more. Take a year or more to clear it if you need.
    TBH a bank loan would be better in this case, a 12 month loan would be 100 or so a month and very easy to get.
    Alternatively if you are in the CU they will do it but they ask you to surrender the card.


  • Advertisement
Advertisement