Balance Transfers

eeyore87

Apologies if this has been answered before.

I currently have a balance of £3,475.00 sitting in a Barclaycard at 0% until March 2013.

I have a couple of other balances totalling approx £1,850.00 at 17.9% on other cards and Barclaycard are offering 6.9% APR on any further balance transfers. If I transfer these to my Barclaycard, will I lose the 0% rate on my original balance?

Have been trying to work out how it will affect my payments, but need to call on some more experienced minds! I would love to cut up those other two cards though.

tomsco

eeyore87 wrote: »

Apologies if this has been answered before.

I currently have a balance of £3,475.00 sitting in a Barclaycard at 0% until March 2013.

I have a couple of other balances totalling approx £1,850.00 at 17.9% on other cards and Barclaycard are offering 6.9% APR on any further balance transfers. If I transfer these to my Barclaycard, will I lose the 0% rate on my original balance?

Have been trying to work out how it will affect my payments, but need to call on some more experienced minds! I would love to cut up those other two cards though.

I imagine it would be fine - they should be able to allow two promotional rates. In regards to payment order, your payments will also go towards the BT at 6.9% before the 0% offer.

HJFrancis

eeyore87 wrote: »

Apologies if this has been answered before.

I currently have a balance of £3,475.00 sitting in a Barclaycard at 0% until March 2013.

I have a couple of other balances totalling approx £1,850.00 at 17.9% on other cards and Barclaycard are offering 6.9% APR on any further balance transfers. If I transfer these to my Barclaycard, will I lose the 0% rate on my original balance?

Have been trying to work out how it will affect my payments, but need to call on some more experienced minds! I would love to cut up those other two cards though.

I believe that most 0% balance transfer credit cards allow you to transfer balances in at the 0% rate for a set time period only.

I know with a recent MBNA 0% balance transfer credit card that I had three months from opening the account to make balance transfers at 0% - any made after that were something like 18%.

It's worth checking your card's Ts & Cs just to make sure you can still get the 0% rate before you hit the "transfer" button.

YorkshireBoy

HJFrancis wrote: »

I believe that most 0% balance transfer credit cards allow you to transfer balances in at the 0% rate for a set time period only.

I know with a recent MBNA 0% balance transfer credit card that I had three months from opening the account to make balance transfers at 0% - any made after that were something like 18%.

It's worth checking your card's Ts & Cs just to make sure you can still get the 0% rate before you hit the "transfer" button.

The rate being offered is 6.9% APR, not 0%.

thenudeone

You balance at 0% won't be affected by any other transfers at different rates.

eeyore87

Thank you all