Is monument owned by Barclaycard?

Gem-lou_2

I recently got a barclaycard credit card in order to take advantage of their 0% balance transfer, however when I went to transfer my monument balance over to them they said they couldn't do it as they owned monument?

Does anyone know how I can get around this? I probably wouldn't even mind paying interest on the monument balance if it was transferred as it would be less than it staying where it is.

thenudeone

Gem-lou wrote: »

Does anyone know how I can get around this?

Yes there is a way. If you transfer the balance to another card first, your monument balance will be zero.
Then ask Barclaycard to transfer the balance from the new card to Barclaycard.

You will probably have to pay a balance transfer fee [unless you can get a card which doesn't charge one like Santander Zero (I think)] and you will be charged interest on the new card for as long as it takes to do the transfer.

So whether its worth it will depend on the rates you are currently paying.

Alternatively ask if Barclaycard will do a Cash Transfer into your bank account at the same interest rate as the Balance Transfer Offer.
Then use the cash to pay off the Monument card. The fee might be 1% or so higher but it's much simpler and does not depend on having another credit card.