Transfer then purchase or purchase then transfer?

Brussel_Sprout

Hi Just a quick question - not even for me!

Other half has a Tesco card on which his free period has run out, only has £661 on there.

He wants to buy something on a credit card as we dont have the cash straight away is her better to do which of the following:

1. Buy on the Tesco card, balance will then go up to about £1500, and then balance transfer this to a new card.................or.

2. Balance transfer the £661 to a new card and then purchase the item in question?!

He'll be paying about £125 off a month so it'll be paid off pretty quickly.

Also, can you advise which card will be best for the Transfers, thought the Lloyds one but then saw the feedback on here!

Thanks,

BS x

Tixy

If he makes the purchase before he gets a new card then he'll end up paying a higher balance transfer fee.

If he applied (and was accepted) for a card that has 0% on spending and 0% on balance transfers then it would be cheaper to get the new card first and buy the new item on the new card.

Cards that have balance transfer and new spending offers are listed here http://www.stoozing.com/balance_transfers_and_purchases.php