A question about : Re: Please help me decide
If your current a/c is overdrawn by Ј1000 and you're paying interest on that OD, I'd pay it into the CA first. There's little point paying off the credit card debt during the 0% period.
You may find that once the 0% purchase period ends on the 1st of Feb, that any payment you make will reduce the BT portion rather than purchases, so you may be in a bit of a fix. You'll have to decide whether it's economic to allow the purchases to accrue interest whilst waiting for the BT promo to run its course or pay everything off on the 1st Feb, if you have the means.
I personally don't like these "Additions" type accounts; you can usually get the benefits they provide elsewhere for less than the monthly subscription. By all means change to a basic a/c or another provider, but make sure whichever a/c you go to that you still have an overdraft facility if you're going to need one in the future. Be very careful of burning your boats.
If you do change your bank, Smile and First Direct give excellent service and reasonable rates, both debit and credit. I prefer Smile and they're giving 6 bottles of wine free with a/cs opened this month. www.smile.co.uk/wine FD were offering Ј25 when you opened an a/c; don't know if this promo is still on.
Best answers:
- Get rid of the additions part of the account NOW!
I've just spoken to Barclays to confirm (I also have a Ј1,000 overdraft which is used all too frequently)- if you're not using any of the other features of additions, it's cheaper to pay the interest than Ј9.50 per month.
If you ask them, they'll calculate how much you'll be charged each month.
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