funnymunny
Registered User
- Messages
- 143
Hi,
I am looking for advice. My cc provider rang the other day (MBNA) to say that I could transfer a balance from my credit card to my current account and avail of a low rate of 3.9% for 6 months on this transfer. As my account is overdrawn I thought it would be a good way to clear the overdraft and pay back a lesser interest rate on the amount.
I am now having second thoughts as I had almost gotten back on track with my credit card...owing about Eur500. It is now back up to Eur1,000.00 and I don't really feel comfortable with this. I am hoping to be in a position to clear this within the 6 months, however, this is not guaranteed.
Should I transfer the money back into my credit card and concentrate on clearing it altogether or should I pay the lower rate of interest as opposed to overdraft interest on my current a/c?
Many thanks.
I am looking for advice. My cc provider rang the other day (MBNA) to say that I could transfer a balance from my credit card to my current account and avail of a low rate of 3.9% for 6 months on this transfer. As my account is overdrawn I thought it would be a good way to clear the overdraft and pay back a lesser interest rate on the amount.
I am now having second thoughts as I had almost gotten back on track with my credit card...owing about Eur500. It is now back up to Eur1,000.00 and I don't really feel comfortable with this. I am hoping to be in a position to clear this within the 6 months, however, this is not guaranteed.
Should I transfer the money back into my credit card and concentrate on clearing it altogether or should I pay the lower rate of interest as opposed to overdraft interest on my current a/c?
Many thanks.