noob question pls help

darksideby182

hi all new to the site

im after advice on a balance transfer my current credit card has an apr of just over 20% i am wanting to transfer the balance to a new card with 0% (i know this wont be forever but i should save some money) at the moment im paying off more than i am generally spending. what is the method i go about doing a balance transfer and what would be the best card for me to go for

cheers

CannyJock

Basically you look for the best deal and apply for the card. Some applications allow you to request the balance transfer at the time of the application. They all allow you to request the balance transfer when you phone to activate the card. I would also setup a minimum payment direct debit when you make the activation call to ensure that you never miss a payment, but that's personal preference and experience.

For a full list of offers, take a look at the list on the stoozing site: http://www.stoozing.com/0fees.php

I'd also read the sticky on how to obtain your credit reports and recommend you look at these.

Once you transfer a balance to a new card, be sure not to spend on the new card - you need to put it in a drawer and not use it.

darksideby182

Thanks for the reply

Dabooka

CannyJock wrote: »

Once you transfer a balance to a new card, be sure not to spend on the new card - you need to put it in a drawer and not use it.

Just to reiterate what Cannyjock said really, a lot of card offers are designed so that any payments you make off your card go against the 0% balance bit, and you can't start removing the new purchases off until it's cleared. All the time paying interest on it!

Moggles_2

... what would be the best card for me to go for?

Which card is best depends, to some extent, on which card(s) you have at the mo or have held recently.