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will this work?

I owe 750 on barclaycard at 19% and 300 on virgin 0% running out this month.I have a barclaycard 0% for life of the transfer cheque.My question is if i pay off BC balance with virgin can I then use the 0% cheque to transfer the whole lot back to barclaycard again and then pay it off interest free?

Comments

  • Bokken_2
    Bokken_2 Posts: 657 Forumite
    yes.
    but beware the transfer fees,and make sure the new total amount you want to transfer onto BC is well within your limit on your BC card.I am sure there is a limit on the amount they will accept on a BT I think it is 75% of your limit.make sure you check the T&C throughly before commiting your self.
    Allow a clear day after clearing your BC account before transfering the BT to BC and also phone the CS and confirm with them the account is at zero and the new BT will be at 0% LOB before transfering you money.It is safer that way and your'll have peace of mind that there are no charges incurring interest.
    good luck.
  • noddynoo
    noddynoo Posts: 346 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Thanks.I have a huge credit limit so no worries there i just want to clear all credit and cut the card up tbh.My husband is going to help me pay it off
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