limits
suesim
Posts: 21 Forumite
in Credit cards
can any one help regarding 0% balance transfer,what happens if the card has a lower limit which doesnt cover the debt?
0
Comments
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You transfer as much as you can of the balance.0
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In my experience BT limits is about 90% to the "normal limit". So if you're quoted a limit of £1000, then the BT limit is £900.
If the BT limit is lower than the balance on your current card then you can only transfer up to the limit onto the new card. If your old card is charging you interest then you simply pay the min payment on the new card (which is 0%) and chuck as much as possible onto paying off the old card.0 -
Thanks rickyv im sorting it out tomorrow.0
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