How to blag a 0% purchase period on a balance transfer card

burnsy89

This post may seem a bit pointless, and it's probably already been done loads before, but I thought i would share it with everybody because I'm so pleased with myself for thinking of it...

I recently transferred a balance onto a 20 month 0% BT deal. I haven't closed the other card and I intended to use it for small purchases to clear in full each month as a means of boosting my credit.

I then needed to make a large purchase, which I could not afford to pay off all at once. I would need to split the payment over at least 6 months which would cost £49.75 in interest. Then I realized I could just spend it on the old card and transfer another balance, therefore getting it interest free for 20 months! The fee is only £16 so I'm saving myself £33.75

Like I say, it's probably happening all over the UK but I'd never seen a post about it and I thought it was a rather bright idea :j

hcb42

Brilliance..!

You could just apply for a card that offers that

burnsy89

Most cards offer longer on BTs than on purchases - and if somebody is transferring a large balance, not everybody will have a decent enough score to get a purchase card as well - so this is my temporary fix. it's worked out very well for me. i'm trying to build my credit so i wouldn't like to risk applying for a purchase card in case it was declined, leaving a print on my file. so this works for me.

wont be everybody's cup of tea but if anybody's in the same situation as me it just shows it pays to think a little outside the box

hcb42

barclaycard are offering I think 12 mo on BT and purchases at the mo

burnsy89

yeah 12 months wouldnt be enough for me - with the original BT, and this added one, i should manage to clear it within my budget in about 18 months - so it's worked out very well for me

Degenerate

Two snags:

1. Most BT promotional offers can only be used in the first 60 days.
2. You'll pay BT fees that you would not incur on a proper purchase offer card.