Some help with balance transfers

Arcey80

Need a bit of help I'm afraid to get my head around things.

Currently have £700 on a Sainsburys CC in which the 0% on spending will be expiring soon.

I would like the Tescos CC which is 0% on spending for 13 months and 0% on Balance Transfers for 9 months.

The obvious thing would be to transfer the balance straight to Tescos. However:

1. I have read that it is best not to spend on a balance transfer card. Just make sure you clear the debt in time. In which case should I open an account with MBNA as I know I can get the debt cleared in 12 months, plus still open a Tescos CC for shopping etc? Could opening two accounts in quick succession also cause problems?

2. How do I guarantee I pay off the balance transfer first? If for example, I spend £200 a month on the Tescos CC and pay off £250 a month, would the balance transfer be paid off within the 9 months? In theory I would of paid a total of £2250 in those months, more than twice the amount transferred. Or, would the BT only be paid once I have paid everything that I have spent with the Tescos card that month?

Any help would be appreciated

Arcey80

Just bumping this to the top as need some help please and want to get on with it.

dbmabz

Why not consider the Virgin credit card offering 12 months on balance transfers and 12 months on purchases.

Dabooka

If you're clearing what you spend (you mention £200 / month spend against a £250 / month payment) why don't you just keeping your onthly spending on the Sainsbury's card and pay it off in full, and then make your £50 to the BT card? Incidently, how much was the balance initially on the Sainsbury's 0% deal, as that will go yuo a good indication to how much you'll actually be able to pay off?