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balance transfers & purchase
cutterman
Posts: 1 Newbie
in Credit cards
First time on these boards:eek: so here goes.
Reading thru the tips & advice etc on the site it states, as a golden rule, never ever make a purchase on a card used for a balance transfer. So bearing this in mind, I have a £1800 debt on a Skycard (mastercard) and want to transfer the balance to a new 0% card, easy enough, BUT I also want/need to purchase a new PC which will cost about £800 and will need a card to buy it on as I don't have the cash to buy it outright. So I thought I"ll buy it on my Sky card then transfer the whole balance over, about £2600, to the new card. Is this plausible? Your thoughts and advice will be most appreciated.
Reading thru the tips & advice etc on the site it states, as a golden rule, never ever make a purchase on a card used for a balance transfer. So bearing this in mind, I have a £1800 debt on a Skycard (mastercard) and want to transfer the balance to a new 0% card, easy enough, BUT I also want/need to purchase a new PC which will cost about £800 and will need a card to buy it on as I don't have the cash to buy it outright. So I thought I"ll buy it on my Sky card then transfer the whole balance over, about £2600, to the new card. Is this plausible? Your thoughts and advice will be most appreciated.
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Comments
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this would be possible, as long as you put it on the old card before the transfer goes through, however the one thing i would be concerned about if i was you would be what if you dont get the credit limit for the amount you want to transfer, also dontforget you need to factor in a balcence transfer fee (often around 3%)
apparently you can spend on a 0% bt card if they have 0% on new perchases for the same lenght of time and 0% on balence transfersMFW#105 - 2015 Overpaid £8095 / 2016 Overpaid £6983.24 / 2017 Overpaid £3583.12 / 2018 Overpaid £2583.12 / 2019 Overpaid £2583.12 / 2020 Overpaid £2583.12/ 2021 overpaid £1506.82 /2022 Overpaid £2975.28 / 2023 Overpaid £2677.30 / 2024 Overpaid £2173.61 Total OP since mortgage started in 2015 = £37,286.86 2025 MFW target £1700, payments to date at April 2025 - £1712.07..0
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