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Balance Transfers.. How do they work?
Tazz360
Posts: 20 Forumite
in Credit cards
Hi people.
I would like some advice on how balance transfers work.
I have had a Lloyds TSB Advanced credit card for 4 months, which was 0% when I got it in February, so In August the APR will kick in.
It was a set maximum of £1,750 and there is £1,300 left to pay.
Do I just apply for another 0% credit card with another company and then get them to transfer what I owe over from Lloyds TSB?
I would like some advice on how balance transfers work.
I have had a Lloyds TSB Advanced credit card for 4 months, which was 0% when I got it in February, so In August the APR will kick in.
It was a set maximum of £1,750 and there is £1,300 left to pay.
Do I just apply for another 0% credit card with another company and then get them to transfer what I owe over from Lloyds TSB?
0
Comments
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Basically yes, the only cards you can't transfer to is another Lloyds TSB card or any card that is backed by them.
You will normally pay a small fee on top of the balance transferred, then it will be at 0% for however long the 0% period is.
A list of BT cards, if you hovver over the example it will tell you who the card is backed by.
http://www.stoozing.com/0fees.php0 -
'I'm as mad as hell and I'm not gonna take it....for much longer!'0
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