Confused Newbie

Rainbowsend_2

Hi Everyone,

I could kick myself for not finding all this great info sooner.

Now I could do with some advice...

I have a One Account and have read that I can transfer balances to my OA credit card to reduce the mortgage interest. Can I transfer the credit from my 0% rate card or am I missing something here?

I have applied for a Sainbsburys Visa Card today. I assume before the 0% offer runs out on this I will need to find another card to move the balance too and so on as the balances increase. Is it normal to have lots of cards as the debts increase?

My husband has an egg card and we are transferring a balance to take advantage of the anniversary offer. Only problem is it expires on 31st Jan and the transfer can take 7 days to process. Waiting to hear back from them if we still qualify.

Hope I have made sense.

Lisa

canny_yorkshireman_2

I assume you are going to put the money that you spend on the credit card into your one account to offset the savings/mortgage then switch the balances to other providers and why have you got a credit balance on a credit card anyway or is it linked to offset the mortgage as well as your current/savings account? As to the question of the debts increasing then this should not be the case if you pay the monthly spend into a pot which increases as you spend so should wipe out the debt eventually when you can no longer get intrest free cards
hth