credit card payment

[blondieb]

i have a zero balance on my cc, and have an offer of 0$ on transfers till feb 2012 plus 2.5 % handling fee, my credit limit is 6000, how much can i transfer and what will the monthly payment be, it reverts to 15.9 after the interes free period
what if i transfer 3000 how much to pay each month,
thanks

[mike11111]

If you want it to be interest-free then £3000 over 6 months equates to £500 per month.

[factor-fiction]

...^ plus the handling fee of £75 which I assume you will have to pay up front or in the first month.
We can't answer how much you need to pay if you intend to pay it back over a period of more than 12 months as that will depend on the time period in which you choose to pay it off.

[pretty_snowdrop]

Why do you need to transfer if your balance is zero?

[factor-fiction]

I assume he has at least two cards, one of which has an outstanding balance that he'd like to transfer to the one offering 0%

[boxtops]

You can normally only transfer up to 90% of your credit limit, to allow for the handling fee. It's a very good offer - a long time at zero credit and not a bad rate once the free period ceases.

[pretty_snowdrop]

oh yeah silly me. I was having a bad day yesterday lol.
Only transfer the balance if you are intending to pay it off during the interest free period. Remember banks are out to make money, they don't want you to pay it off at 0% they want you to be paying the minimum balance off at 15.9% and also take into consideration they can adjust the 15.9% rate whenever they choose.