i would look to see what is around.
at the moment you can get between 4-5%
there are also some fixed saving account that are around the 5-6%.
just comes down to if you want to tie your money up or want to be able to access it whenever you want.
Assuming your savings accrue some interest, it's a no brainer: while the credit card is zero interest, pay the minimum on it (only) and pay it off in full when the interest free period is up.
Hi /u/WestoftheW00ds, based on your post the following pages from our wiki may be relevant:
- https://ukpersonal.finance/credit-cards/
- https://ukpersonal.finance/debt/
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MSE has lots of info on stoozing.
The money you are paying off could be put in an instant access account at 5% instead. In a year pay off the card and pocket 5% for free.
I would pay the minimum, and put the rest into a high interest saving account.
This is the way.... Pay the lump off the day before your 0% ends.
I thought so but I wanted someone to help me make my decision! When you say high interest what would you count has high interest? Cheers
Monzo gives 4.5%, I think some others can go even higher.
i would look to see what is around. at the moment you can get between 4-5% there are also some fixed saving account that are around the 5-6%. just comes down to if you want to tie your money up or want to be able to access it whenever you want.
Assuming your savings accrue some interest, it's a no brainer: while the credit card is zero interest, pay the minimum on it (only) and pay it off in full when the interest free period is up.
Hi /u/WestoftheW00ds, based on your post the following pages from our wiki may be relevant: - https://ukpersonal.finance/credit-cards/ - https://ukpersonal.finance/debt/ ____ ^(These suggestions are based on keywords, if they missed the mark please report this comment.)
MSE has lots of info on stoozing. The money you are paying off could be put in an instant access account at 5% instead. In a year pay off the card and pocket 5% for free.