Credit Card Shuffle Discussion area

teedy23 · 22 November 2006 at 12:28PM

can anyone help? I have a card who,s 0% expires in January, I have another card (active ) which is offering to tranfer balances for 6 months at 0% but i owe them £1000. This offer expires on 29th of December. I have enough credit to do this. This means I wouldnt have to apply for a new card, but there,s a 2.5% charge on £ 3,500. Do I have enough time? is this worth doing? I think I can still tranfer the £1000 to 0% card so that leaves offer card with 0 balance

JasonW_2 · 22 November 2006 at 3:43PM

So there is a balance on the card just now of £1000 and they are offering you a balance transfer deal is this correct? If so, Id say don't do it, cos the £1000 will collect interest at your full standard rate and all payments will go towards the 0% rate first. It's not clear what you are saying, you mention another card, but also say you won't need to apply for another card..

teedy23 · 22 November 2006 at 6:52PM

JasonW wrote:

So there is a balance on the card just now of £1000 and they are offering you a balance transfer deal is this correct? If so, Id say don't do it, cos the £1000 will collect interest at your full standard rate and all payments will go towards the 0% rate first. It's not clear what you are saying, you mention another card, but also say you won't need to apply for another card..

sorry jason not making myself clear. I have 2 cards actve, one £3000 0% , but nearing end of of deal, another with £1000 balance at 15.9%. Card two is offering to tranfer balance of other card at 0% for 6mnth, heres wot I think i can do, move £1000 to 0% for about a month, so leaving one card with no balance, then before 29 Dec transfer all to now empty card at 0%. Remembering that all transactions will now have 2.5% charge, is it worth it ?:eek:

Shelator · 29 August 2007 at 3:47PM

I have a Barclaycard with a stupidly high interest rate. I am in credit by .01p! on it, but am really reluctant to spend on it again because the interest cripples me. I have tried calling them to see if they can reduce the rate, but whatever arguement I gave them they couldn't do it.

What's the best thing for me to do? Should I just apply for a new card with a lower rate? Should I buy something on my existing card so that I can do a balance transfer? HELP!

Lexy1983 · 6 August 2008 at 2:47PM

Can anyone offer advice? Have got two cards Egg and Virgin, Virgin have just sent me a deal that new balance transfers are 0% till next July. I have a balance of 1700 on virgin already. Can I transfer my virgin money which Im paying interest on to egg then back again to take advantage of 0% or will I be stopped from doing so? Any help would be greatly appreciated.

Lexy

besty_2 · 9 September 2008 at 11:24AM

Hi, could someone help me regarding my credit card debts.At present i have 10,100 with capital,5,400 with Virgin and 2,500 with Barclaycard.I need to know how to reduce my monthly payments and how to use shuffle to help me do this.

make_u_bouce · 9 September 2008 at 2:12PM

i have 6k on an Amazon card that i have been paying with 0% interest.
This deal has now run out and i would like to write to them and ask that they reduce my interest rate rather than switching cards.

Has anyone got a draft letter i can adapt and use please ?

A

(i dont think my credit rating is great, so getting another card isnt an option)

colonel_mustard_3 · 1 November 2008 at 1:58PM

I currently have £10,000 on an overdraft facility, paying 18%. I wish to shuffle the debt somewhere cheaper as quickly as possible so have opened 2 credit cards with £15,000 credit, 0% for 12 months. However, I can't seem to find a way of transferring the debt across - can anyone help?

Can I transfer the debt across from the overdraft to the credit card and if so what's the cheapest way to do it?

NickX · 1 November 2008 at 8:37PM

colonel_mustard wrote: »

I currently have £10,000 on an overdraft facility, paying 18%. I wish to shuffle the debt somewhere cheaper as quickly as possible so have opened 2 credit cards with £15,000 credit, 0% for 12 months. However, I can't seem to find a way of transferring the debt across - can anyone help?

Can I transfer the debt across from the overdraft to the credit card and if so what's the cheapest way to do it?

Yes you need to get the debt off that horrible 18% overdraft.

Which are the cards that you have opened ?

Also do you have access to an Egg Money card ?

Only certain special cards allow you to pay off an overdraft.

shiva888 · 5 November 2008 at 7:56PM

Hi Alex,

I have the same problem. Have you found out the answer yet and if yes please let me know ..

Thanks
Lisa

AlexB wrote: »

I moved abroad and took my English debt with me, I have 4 credit cards or varing limitis £5K-£12.5K, all of which are just under the limit as I can only just pay a little over the minimum payment which is nearly equal to the interest charged every month so basically Im going no where fast... I would love to be able to transfer even one of these balances to a 0% but because I am no longer a UK resident I cannot apply for one of these cards... any ideas? I also read that its best to pay off the smallest balance first and not the largest am I doing it the wrong way?

Credit Card Shuffle Discussion area

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free