Balance Transfers.. How do they work?

Tazz360

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?

fozmcfc

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.php

silverbullit

How balance transfers work....

http://www.moneysavingexpert.com/cards/balance-transfer-credit-cards