Money Transfer Cards – What are they suitable for?


I currently have two sizeable debts which are bothering me:

Car PCP (469 per month, circa 21k remaining, balloon due November 2019). 5.4%

Zopa Loan (134 per month, circa 7k remaining). 2.9%

I have decided I am definitely keeping the car beyond the end of the PCP as I love the car and the mileage is very low (>9k in 18 months).

Would a Money Transfer card such as MBNA likely allow me a high enough credit limit to clear at least one of these debts and save myself some interest and increase the flexibility of repayments?

I’ve checked the eligibility on MSE which says “100% pre-approved”. I’m 31, married, one dependent (15 months), and a higher rate tax payer.

Save 6k in 2018: 1651.19 / 6000


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