£95 each month – this will cover both your balance and the transfer fee
£1,381 in interest payments
When choosing a balance transfer, make sure you think about:
It can be tricky choosing the right balance transfer deal – because what’s right for you all depends on your circumstances and priorities.
Here are the different types you can choose from:
You get 0% interest for longer, giving you more time to clear your debt – great if you need to pay it off slowly. Just bear in mind that these offers tend to come with a higher transfer fee.
This could be the best option if you have a smaller balance or want to clear your debt quickly by making higher monthly repayments. The transfer fee may be smaller, but you’ll have less time to pay off the balance. So think carefully about how much you can afford to pay each month.
Looking for the best of both worlds? A two-in-one card gives you a combination of a long 0% purchase offer and a balance transfer.