Money transfer

bradybunch19

Hi,

Im not sure if this would work, sounds simple but im maybe not thinking it out properly, any advice appreciated.

I have been offered a money transfer on my mint credit card of 0% until March 2013.

I am paying interest on a balance on this card. If i was to money transfer into my current account the amount i was due (my credit limit would allow this) and used this money to pay off the balance im paying interest on this would give me interest free until March 2013 to now pay off the balance.

Has anyone else done this

Miss_Spendalot_2

bradybunch19 wrote: »

Hi,

Im not sure if this would work, sounds simple but im maybe not thinking it out properly, any advice appreciated.

I have been offered a money transfer on my mint credit card of 0% until March 2013.

I am paying interest on a balance on this card. If i was to money transfer into my current account the amount i was due (my credit limit would allow this) and used this money to pay off the balance im paying interest on this would give me interest free until March 2013 to now pay off the balance.

Has anyone else done this

Sounds like a good plan to me :-) Do remember though that there will be a charge for the Money Transfer, Virgin charge 4% not sure about mint, but yes go for it if it enables you to clear the debt easier that can only be a good thing, but remember only transfer enough money to cover your debts. Good luck..

ps: I did it myself a few months ago so yes it is possible.