Can I balance transfer by taking new card within same bank?

vnkotak

Hi,

I did browsed a bit, but couldn't find answer to my query.

I normally read that, if we can't pay the debt, then 0% balance transfer is good way to buy time for repaying that debt.

I am with Natwest since 5 years, however this month I feel, I might not be able to complete by debt on credit card, so rather than paying huge interest fee by carrying forward the pending to next month.. I was thinking if I can get a new card from Natwest only and get balance transfer from current card to new card (obviously if I get)?

Is it possible?

If not, can anyone suggest a good credit card with 0% balance transfer with any other bank?

Thanks in advance...

CLAPTON

in general companies don't allow BT between their own cards

blitzboy

It is difficult to advise without more details of income, credit history, etc. But assuming that these are good, Barclaycard and Halifax tend to have the best balance tranfer offers at present. Or HSBC have a 23 month 0% offer but I have a feeling that is for existing customers only.

I believe barclaycard have a 'soft search' facility on their website so that you can see if you are likely to be accepted without performing a full search which would have an impact on your credit file.

Very rare for companies to transfer onto another of their own cards.

blacksta

If i read correctly , you want to rob peter to pay paul. The fact that you cant afford to make the required monthly arrangements still remains.

TadleyBaggie

And you would end up increasing the debt by 4 or 5%, depending on the fee.

InsideInsurance

Most banks will allow you to transfer between their own cards but you do not get the promotional rate. I opened a new NW account to get a "better" card and transferred the small outstanding balance from my old card to the new one (no fee, no promotional rate) and then closed the old account.

To get a promotional rate you will certainly need to switch provider (and you need to ensure it is provider you switch and not just brand)

vnkotak

Thanks for the information. It is certainly helpful.