What do you think to my idea?

mechy

Hi all, I think I have a cunning plan! Your thoughts please. I owe approx £1300 on my current Sainsburys credit card which is comming to the end of its interest free period. So I am looking at changeing it, and payeing the least amount on the balance transfer!
So I am considering getting the Barclays card, which allows me 12 months interest free on money spent + 3% charge on money transfer. So when I get the card,(I havent applied for it yet), I pay off up to £1000 from my card, then let the mrs, use the new credit card to do all the shopping for the month, ie week by week. These are approx figures. Do you think this is the best/cheapest way of changeing the card.
Please leave your comments .:beer:

Percy1983

I have done similar myself and it can work to move a balance from card to the next, just check what the 0% deal is on the new card as it can be different for balance transfers and new purchases.

JimmyTheWig

Sounds reasonable, mechy.
As per Percy1983, you need to check that the 0% deal lasts the same length of time for purchases as for balance transfers.

Assuming that it does, what rate will you be paying on the Sainsbury's card when the 0% runs out?
How much does your wife spend on weekly shopping?
How quickly can you repay the full balance?