M&S Card - a newbie writes

Ernst_Blofeld

Newbie in the sense that until last March I'd never had a credit card before.

However, I applied for an M&S card and the 0% rate is about to expire on 21.3.10. Although I could pay off the outstanding balance, I'd like to defer payment for any number of reasons, and I've never tarted before.

Stupid question alert.

So it's just a question of applying for another card and transferring the balance from the M&S card as part of the new card application? That's all I need to do?

jonesMUFCforever

Yes - apply for the card first then when you activate the card do the balance transfer.

Tixy

Basically yes.

Apply for another card with a promotional balance -hope you get a high enough credit limit (usually you can BT up to 90% of your new card's limit) so you need a limit slightly higher that your current balance.

Then just ask about doing a BT (usually its done after your application, once you have been accepted but is straight forward). You also have to pay a BT fee (which you probably know but in case you don't) -typically 3-4% of the balance.

Just a thought - depending on your situation you may want to consider a low rate life of balance promtional card rather than another 0% card (depends on how long you may have the balance because of the fees involved in keeping transferring to new cards)

Fruit_and_Nut_Case

Ernst_Blofeld wrote: »

So it's just a question of applying for another card, being accepted and transferring the balance from the M&S card as part of the new card application? That's all I need to do?

I added another important proviso in red.

P.S. How are things with SPECTRE?