confusion with BT vs Purchases

supersaverluke

I have a question which has been bothering me for ages and I cant seem to find the answer in the forum or the main site.

I have about 800 on a halifax card which is 0% purchases until april 09. I'll probably need to transfer the amount to another card at that time, but instead of getting a balance transfer deal I was thinking of getting a new card for purchases and then paying off the old card. Wouldn't this save the transfer fee? If I still want to use the card for purchases isn't this easier than having two cards?

Hope someone can shed some light!

_Andy_

No - it would be a balance transfer. Purchases are for new purchases (if that makes sense).

CLAPTON

you can't in general use a cc to pay off a cc.... look on the back of your CC statement and see the ways to pay... you wont see by another CC.

so you either have to do a BT between CCs or some cards allow a BT to your current account (e.g. MBNA cards )

supersaverluke

ok so the existing debt would not count as a new purchase on the new card?

YorkshireBoy

supersaverluke wrote: »

ok so the existing debt would not count as a new purchase on the new card?

Correct. You can only 'purchase' debt with a balance transfer to another provider.

Swans1912

supersaverluke wrote: »

I have a question which has been bothering me for ages and I cant seem to find the answer in the forum or the main site.

I have about 800 on a halifax card which is 0% purchases until april 09. I'll probably need to transfer the amount to another card at that time, but instead of getting a balance transfer deal I was thinking of getting a new card for purchases and then paying off the old card. Wouldn't this save the transfer fee? If I still want to use the card for purchases isn't this easier than having two cards?

Hope someone can shed some light!

Do you have any other credit cards? When the time comes to BT then seek for 0% BT Fee.

Any other questions, just ask!

supersaverluke

Thanks a lot it all makes sense now