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Quick Question please
niceshoes_2
Posts: 456 Forumite
in Credit cards
Just a quick question to ask people:
As previously posted, my Virgin 0% period is due to expire 01.12.05. I currently owe £2900 on it and obviously, don't want to pay any interest on the remaining debt. I was thinking of just balance transferring the debt to a new card, which I was planning to open this week.
I also have a Nationwide Gold credit card with a limit of £4000 on it, nothing owing on it.
Is there anything to stop me transferring the debt that I owe, to the Nationwide card.
Once payment is needed on the Nationwide card, could I balance transfer it back to the Virgin card - and continue with this each month.
I technically wouldn't have to pay any of the debt off each month, as I would be moving it between the 2 cards each month. I would still be looking to reduce the debt so, would pay money off the bill each month.
Is this a possibility, to prevent me having to apply for another card and are there are rules that are imposed to stop you doing this?
As previously posted, my Virgin 0% period is due to expire 01.12.05. I currently owe £2900 on it and obviously, don't want to pay any interest on the remaining debt. I was thinking of just balance transferring the debt to a new card, which I was planning to open this week.
I also have a Nationwide Gold credit card with a limit of £4000 on it, nothing owing on it.
Is there anything to stop me transferring the debt that I owe, to the Nationwide card.
Once payment is needed on the Nationwide card, could I balance transfer it back to the Virgin card - and continue with this each month.
I technically wouldn't have to pay any of the debt off each month, as I would be moving it between the 2 cards each month. I would still be looking to reduce the debt so, would pay money off the bill each month.
Is this a possibility, to prevent me having to apply for another card and are there are rules that are imposed to stop you doing this?
Nice Shoes & Expensive Designer Handbags, are my downfall!
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Comments
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As far as I know, both cards ask a bt fee. That would make it very expensive.Money in longest works hardest0
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good point!Nice Shoes & Expensive Designer Handbags, are my downfall!0
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Halifax one....0% for 12 months! can do it online. No BT feeMy broad mind and narrow waist are slowly swapping places!!0
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trencherpilot wrote:Halifax one....0% for 12 months! can do it online. No BT fee
They do charge a fee!!Mortgage-free wannabe!0 -
...and it's 2% uncapped.ruyareece wrote:They do charge a fee!!0
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