Timing

doberryfirkin

I am currently using the Mint card which has 0% on purchases until 1 Jan 07. I want to transfer the balance in time to pay off the debt and not have to close the card. Can anyone advise on timing? I am looking at another card to do a BT - elsewhere in this forum - but am conscious that I don't want to open too early (reduce 0% period) but not too late (loose benefit). Must be plenty on this site who have gone thru this pain - advise please? TIA
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Moggles_2

Transferring a balance to a new card can be stressful largely because, human nature being what it is, peeps tend to leave things to the last minute.

If you want to avoid this race against the clock, I would apply for the new card at least 5 weeks before your Mint deal expires.

The time taken to process an application and carry out a balance transfer varies considerably, but bear in mind there are two public holidays, Christmas and New Year, which could slow things down. Also, if you go for a market-leading deal following an advertising blitz, you can expect the process to take longer.

Milarky

I agree that more time than usual is required when applying around Xmas time. I would say allow about 6 weeks (mid November). But by then the offers may have changed a bit no doubt and be timed to take advantage of Xmas demand for cards.

Some cards (I can only think of HSBC) time the duration of the balance transfer from when it is made rather than when the account is opened. In their case, you have 30 days leeway to make an initial transfer. Other accounts may allow you a bit more than the stated time at the end of the period. I've had this happened with Halifax, Goldfish, and Virgin - where they effectively add the 'short month' between account opening and first satement to the period of months.

humfer

Agree with the posters above. Would go for 6 weeks myself. It should only take a week or 2 but you can never guarantee that and if its late it can be quite costly