juggling balances

jaimem

hello i was wondering if anyone could help me, today i received an existing customer offer from barclaycard of a balance transfer 0% until sep 2011.
I do have another credit card (virgin) but has no balance on it. my barclay card however has a balance of £1000.00 can i pay that off with my virgin card then transfer the balance back to the barclay card with the 0% transfer offer . thanks in advance

opinions4u

Probably.

But is it worth paying two lots of 3% balance transfer fees (or whatever they are) to achieve this?

YorkshireBoy

I don't have a Barclaycard but I've seen it posted many times that in order to avoid problems with 'order of payments' you need a zero balance statement before taking up a BT offer with them.

If your Virgin card is empty have you thought about asking them if they have a similar offer available to you? Call retentions on Monday morning on 0800 783 1116.

YorkshireBoy

opinions4u wrote: »

But is it worth paying two lots of 3% balance transfer fees (or whatever they are) to achieve this?

To expand a little, if you're on a (fairly typical) 16.9% rate with Barclaycard the 6% in fees equates to around 4-5 months interest. Can you clear the balance in that time? If not then the shuffle will save you money.

[Deleted User]

You won't pay the 3% fee for transferring to the Virgin card as it's not a promo rate. Check t&cs to be sure, but go to rate trasnferes are invariably fee free.