Understanding balance transfers??

Nine_Lives

I've got a few £ left on my Tesco card (approx £50 i think?). I can pay all the money back, so i'm not about to get myself into debt.

I applied on Thurs for Barclaycards Platinum credit card as on the main MSE page. It said they couldn't offer me one over the net & would be in touch within 5 days.
Forget that thought i - so i applied for AA's card straight away (i know - many applications in a short span) which said i was successful. Brilliant.


I'm wanting to order a set of winter tyres in for my car, which will cost more than is left on my Tesco card, but i'd rather not hang about until my AA one comes - i'd like to order the tyres now.

I also have a Nationwide credit card.

Could i order the tyres on my Nationwide card & when my AA card comes, just transfer the balance across to the AA card? Is this what a balance transfer is?

Does it cost to do this?

YorkshireBoy

K_P83 wrote: »

Could i order the tyres on my Nationwide card & when my AA card comes, just transfer the balance across to the AA card? Is this what a balance transfer is?

Does it cost to do this?

Yes, yes, and yes.


EDIT: Just to add, the BT will cost you around 3% (check the summary box for the exact figure). How much are your savings making (net of savings interest tax if applicable)?