New Credit Card balance transfer question.

CapnBirdsi

Hi All,

I have a general question in regards to balance transfers. My Barclaycard 0% interest is due to end this month. I therefore decided that it would be best to get a new card and transfer the debt from the Barclaycard and another MBNA card (currently paying huge sums of interest) over to just the one. However, the balance on the BC is around the £3k mark. And on the MBNA is about £1.5k.

Upon completing the online application form for a Halifax card, it stated that the "estimated" card I applied for (22mnths 0% interest on balance transfers) has a credit limit of £3.25k which realistically doesn't cover the full outstanding balance I have left to pay.

Is this estimated a final figure or will the case get reviewed after application and be extended? Or is this going to be a final figure? If so surely it is not totally worth going through with, and I may aswell extend the 0% interest rate for a further 6mnths on my BC?

Any feedback from all you guys would go far more than appreciated!

Many thanks,
Matt.

Eonel

Although the 3.25k limit does not cover your whole balance, 22 months 0% is a long time.

I would say it is worth transferring the maximum you can to this deal, while managing the remaining balance on you Barclaycard.

thenudeone

You don't have to transfer all the balance on to one card.

Transferring £3k from an interest-bearing card to 0% card for 22 months will save £££s in interest even if you can't transfer the rest.

DominicJ_2

Transfer most of the barclaycard onto the Halifax
Pay off the rest of of the barclaycard
Transfer the MBNA on to the Barclaycard

Pay off the Barclay card
Pay off the Halifax