Help - Barclaycard

dannyuk

Hi,

I've just moved my money from a Virgin credit card to the new Barclaycard Platinum Credit Card with Balance Transfer (0% for 14months). I've set up my direct debit to pay my money off monthly, but I'm was just wondering if I pay for my car insurance in full (£630) on my Barclaycard and then just set up a direct debit myself paying the car insurance monthly, how will I get charged from Barclays?? Will it be interest free or will it be charged at a stupid rate?

Thanks in advance,

Danny

opinions4u

Assuming it is this card I'd expect you to have:

0% interest on purchases for three months from opening your account.

I'd expect you to pay 15.9% after that.

The site also says payments are allocated as follows:

1. Default Charges
2. Promotional balance transfers
3. Promotional purchases
4. Purchases, balance transfers and other charges
5. Cash withdrawals

In other words, your 0% debt gets paid off first.

twist-and-shout

Why not pay it on the Virgin credit card and do another balance transfer to your barclaycard, you would have to pay another fee though

splatt30

Rule number 1 of balance transferring is - DO NOT SPEND ON A BT CARD

Hope that helps

safc118

twist-and-shout wrote: »

Why not pay it on the Virgin credit card and do another balance transfer to your barclaycard, you would have to pay another fee though

Thats the best thing to do as the fee will be 3% approx for the BT solong as its paid off within the terms that 3% would be essentially be the intrest cheap as chips:T

LeeSouthEast

It's a ploy to make money out of you. You'll pay interest on it from Month 4 onwards, and won't be able to pay it off without clearing the whole BT amount first.

dannyuk

Thanks for all the help.

Another quick question, if I were to transfer the full amount online of my car insurance to my personal bank account would this still be 0% free?

BLT_2

dannyuk wrote: »

Thanks for all the help.

Another quick question, if I were to transfer the full amount online of my car insurance to my personal bank account would this still be 0% free?

I don't believe Barclaycard offer the option to transfer to your current account, but if they do the same rule would apply, if it does you would need to read the terms and conditions carefully.

This could be termed a cash advance in which case you would not only pay the 3% on the advance (22 pounds) but also 23% per annum afterward, which over the course of the year would be 12.60 per month or a whopping 152 pounds.

Worse still, if you didn't pay off your credit card in the time frame and had to carry on with it, you would be paying 152 pounds per year for THIS YEARS car insurance for the forseeable future.