Easiest way to shift

robinofloxley_2

I don't know if this is in the right section... but here goes.

I bought a laptop and some software this year on 'credit'. The deal was pay nothing for a year, but once the year is up (if you haven't paid it off) the interest rate is so high it pretty much triples the price.

I have £1,800 left to pay, and I'm getting increasingly concerned that I won't be able to pay it off in time. I would like to get a 0% card (i.e. Virgin) and transfer the debt to that card so I have more time.

I'm not sure what the 'debt' falls under though? Basically the deal was that Barclays paid for the laptop. I signed a form and sent it back to the company...so I owe Barclays the money, but I'm not sure if it counts as 'credit' or a 'loan', so not sure whether a balance transfer is possible...?

Debt_Free_Chick

Credit or loan .... it's essentially the same thing - a form of "borrowing".

You need to check the T&Cs for payment details, but I suspect any form of payment - cheque or debit card would do it. In that case, you'd need a card that allows a balance transfer to a bank account. You would then need to balance transfer to your bank account about two weeks before the deadline and then pay the Barclays borrowing off with your debit card or cheque.

Barclays might accept a payment from a credit card instead - in which case you could pay directly from the CC, but this might not count as a BT.

You need to fully research all the options, but I'd suggest a CC that allows a BT to your bank account as the safest option, to save any confusion.

Don't forget that BTs attract a handling charge these days, so you will end up paying more than the face value for your lappie.

I have to ask .... what the hell did you get that ended up costing £1,800??? :eek:

robinofloxley_2

Lol! I started up my own business a year ago, and my stupid Windows laptop died on me in June. So I bought a Macbook Pro and CS3 Web design suite... the whole thing was £2,200... it was a bit of a catch 22, I couldn't earn anything without it, but struggling to pay it off as well!

I think I need to dig out the form and find out whether I need a CC with 0% balance transfer, or 0% spending...

My original plan was to open a 2nd graduate account. I have £1000 of my overdraft to pay off by July as well and was hoping to transfer it over to a new graduate account.

But I went into Barclays today and after waiting 45 mins for a meeting, it was over in 2 minutes when she said I couldn't open a 2nd graduate account with them. (My other one is not with Barclays)