Balance Transfer Help!!!!

wanttogetridofcard

I have a barclaycard whish just isn't moving! I'm not struggling with the payments and throwing so much money at it and it's going nowhere!

Just want a bit of advice on doing a balance transfer - me and my partner are wanting a baby in the next 2 years and I want rid of this card!

With balance transfer does the fee get added onto the total balance?
How will I know what the minimum payments will be?
And what if I don't get enough on the new card to transfer the full amount?

Advice please!!!

:j

Tixy

What APR are you paying on your current barclaycard?
Whats the balance and how much are you paying off each month?
If you are throwing a lot of money at it and not reusing the card then the balance should be going down? have you worked out how long it will take to pay this card off if you keep paying at the current rate?

If you apply for and are accepted for another card.
- the bt fee is added to the card balance once the BT has gone through
- the minimum payment will be set out in the terms before you apply for whichever card you go for - you can usually find them on card providers websites. Some are calculated as a set percentage of the balance, some are calculated as all interest & charges plus a set percentage of the balance
-if you get a new card with a lower APR but that isn't high enough for the new card then you would need to calculate whether its still worth transferring across as much as you can and then paying off 2 cards with a lower amount. It often is -but it depends on the comparison between the APRs on the new and old card and the BT fees.

wanttogetridofcard

Hi thanks for getting back to me -

not sure what the APR is but the Purchase Annual Rate (is this the same as APR?!) is £27.9% and the Cash Annual Rate is also 27.9%.
My minimum payments are coming in at about £74pm but have been paying £150pm so the balance is slowly going down but wondered if it would go down quicker with a 0% card?