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Balance Transfer to Current Acc
Lou1se13
Posts: 1 Newbie
in Credit cards
Hello!
Not sure if this is a really daft question BUT (!) - I have an outstanding debt on a credit card, which I'm currently managing, but which has a high APR. I have just received my Apr/11 statement confirming my balance, and notice that they're offering 0% balance transfers (to a current account) for 12 months. If I were to apply for a balance transfer, for the same amount as my current outstanding credit card debt (same company), and then pay my Apr/11 balance in full (using the balance transfer funds from my current acc) - would my May/11 statement all be at 0%??
There is a 5% minimum fee for the balance transfer - so I am reluctant to apply for the funds unless I know my future statements will be 0% - ir would this be too god to be true?
Thanks for any advice!
Not sure if this is a really daft question BUT (!) - I have an outstanding debt on a credit card, which I'm currently managing, but which has a high APR. I have just received my Apr/11 statement confirming my balance, and notice that they're offering 0% balance transfers (to a current account) for 12 months. If I were to apply for a balance transfer, for the same amount as my current outstanding credit card debt (same company), and then pay my Apr/11 balance in full (using the balance transfer funds from my current acc) - would my May/11 statement all be at 0%??
There is a 5% minimum fee for the balance transfer - so I am reluctant to apply for the funds unless I know my future statements will be 0% - ir would this be too god to be true?
Thanks for any advice!
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