0% balance transfer

Calzor_Suzay

I have the option to transfer another credit card balance to my Barclaycard with 0% till 1st October and 2.9% transfer fee.

I normally use the card a lot and pay it off in full each month so how does it work to keep it at 0%? Say I transfer £4k to it and spend £2k in a month, if I pay the £2k do I need to pay anymore out of the £4k to keep it at 0%? Is it obvious on the statement what I've spent on new purchases and easy to pay this or do they make it deliberately difficult so you end up paying too little and it defaults to a non 0% apr?

jonesMUFCforever

IMO it is a good idea NEVER to mix interest free and purchases on cards.
Can you not apply for a third card to do the balance transfer?

YorkshireBoy

You won't be able to avoid (possibly small) amounts of purchase interest at Barclaycard...until you completely clear the card, including the existing 0% BT balance.

Much better to shift the balance and then spend on your other (now empty) card.

Calzor_Suzay

I don't really want to apply for loads of cards on the basis of shuffing them around in the future and the other card is my wife's so I can't swop the balance and use hers.

It's not that simple then? It could mean a big saving each month in interest.

choclover

No, personally I'd use separate cards for purchases and bt's

DominicJ_2

In theory, its possible, in practice, its best to keep balance transfers seperate from purchases

thenudeone

jonesMUFCforever wrote: »

IMO it is a good idea NEVER to mix interest free and purchases on cards.

And this is because you will have to pay interest on the purchases for every day between the purchase and paying it off.
Purchases are only interest free if you always pay off the FULL statement balance (not just the purchases) every month.
If you have a 0% BT offer you won't be paying in full, so you will lose the usual interest free period on purchases.

Calzor_Suzay

Ahh now this makes more sense, thanks thenudeone.