Credit Card Store Card Balance Transfer & Regular Usage

c3008212

Hi,

I am looking to transfer balances from two store cards that total £700 to a credit card to consolidate my debt and allow for more time to repay the debt back I also want to use the credit card to pay for petrol and groceries each month. I will be paying off the amount spent for petrol and groceries off in full every month, plus a percentage of my balance transferred.

What card would you suggest is best for my situation? As I want the balance transfer to be interest free for at least 10 months and if I pay off the petrol and groceries, I want it to be paid off first not the balance transfer.


I have found this offer from the Halifax (http://www.halifax.co.uk/creditcards/allinone_ros.asp), what do you think for my situation?

Any help would be most appreciated.
Cheers,
Colin

clio

In the T&C's on that card heres how payments are used..
So to me a Balance transfer because it,s interest free for so many months it would be paid 1st..

We use all payments you make to pay off your balance in the following order.
1) Transactions that appear on your statement, starting with those on which we do not charge interest,
then those on which we charge interest at the lowest rate and so on up to the highest rate of interest

c3008212

Thank you thats a good spot. Do you know of any cards that will pay off the regular purchases first? With an introductory offer of X number of months % free on BT's?

NickX

c3008212 wrote: »

Do you know of any cards that will pay off the regular purchases first? With an introductory offer of X number of months % free on BT's?

I believe Nationwide will apply payments in this way and they have a 0% promotion on BTs.

Please do check the Terms and Conditions carefully though.

clio

I know cards that don't lol and they would be Egg/Virgin/Mbna/Cap1/ GEMoney/HSBC/Citi the list is endless as there are not many that do because thats where the money is for them..

Moggles_2

You can shift a credit card balance to another credit card. Transferring a store card balance to a credit card is not so straightforward.

Which credit cards do you have at the mo and which store cards are involved?

~Chameleon~

You would probably be better off applying for two credit cards.

One which attracts a good cashback offer for your purchases, and the other with a 0% BT offer, assuming of course that you're allowed to BT to a storecard, which I honestly have no idea about. Someone else more knowledgeable will have to tell you if this is possible.

CLAPTON

as already said don't mix the usage but have two cards.. use the BT only for the BT and no spending (OK there are exceptions but its a good rule of thumb)


you usually won't be able to BT from the store card but if you get a MBNA CC then you can BT from your current account and so pay off the store card.

clio

GE Money and Mint and Egg Money all allow store cards to be paid off via a Balance Transfer. Mint [ if it does not go through their computer it can be done via a cheque [ some say you have to wait till they send them out, well i rang up and asked for some last week - got them yesterday] GE Money will send you a BT cheque as well if storecard does not go through their computer. Virgin/Mbna has allready been said about there way.

c3008212

Ok, so it will make sense to get two seperate cards; one for the balance transfer and one for regular usage. What card do you recommend for my balance transfer of an argos £200 balance and H Samuel £500 balance? and which card for my regular usage, baring in mind this will be my first credit card.

Cheers,
Colin

clio

Seeing as it,s going to be your 1st card those above say get 2, well you may be pushed seeing as you have not had a CC before, although having 2 store cards may help you get 1 or maybes 2 cards..