We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Balance Transfers and New Purchases?

Options
idv
idv Posts: 35 Forumite
I have just got a Halifax One Visa CC, and transfered a balance from my previous card at 0% to this new card.

My question is this - As the Halifax Card is also 0% on NEW purchases, is it okay to use this card to make new purchases or do I need to pay off the previous balance first.

As I read on this site that you should not spend on a card that you have transfered a balance to ??

Would I be better getting another CC for new purchases ? and use the Halifax card solely to pay off the BT ?

Comments

  • You will be OK making purchases with the Halifax One card, although ensure that you can pay off both the balance you've transferred PLUS the new purchases within the 9 months.

    That way, you won't have to pay any interest on either of these items.
    Mortgage Feb 2001 - £129,000
    Mortgage July 2007 - £0
    Original Mortgage Termination Date - Nov 2018
    Mortgage Interest saved - £63790.60
    ISA Profit since Jan 1st 2015 - 98.2% (updated 1 Dec 2020)
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244K Work, Benefits & Business
  • 598.9K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.