Transferring balance to original card

Elsie348

I currently have a Barclaycard, and am considering doing a balance transfer to another card (to be decided) to get the 0%, but my question is this:

When the period of 0% on the new card is due to expire, can I transfer any remaining balance BACK to my Barclaycard and get 0% from them, or would I need to get a third card?

Thanks.

Consumerist

Elsie348 wrote: »

IWhen the period of 0% on the new card is due to expire, can I transfer any remaining balance BACK to my Barclaycard and get 0% from them, or would I need to get a third card?

Hi Elsie and welcome to the forum.

You can transfer the remaining balance to any card which offers 0% BT at the time. A common practice among MSE readers.

Edit
Card providers often offer 0% BT facilities only to "new" customers but after your offer on the new card expires, Barclaycard may regard you as a new customer. You will have to cancel the Barclaycard and close the account after the BT, however.

Elsie348

Thanks.

So it would be a case of checking with Barclaycard nearer the time then.

Why would I have to cancel the Barclaycard? My plan would be to keep the Barclaycard to use for new purchases (trying to keep them to a minimum, of course) while paying off the larger balance elsewhere.

Consumerist

Elsie348 wrote: »

Why would I have to cancel the Barclaycard? My plan would be to keep the Barclaycard to use for new purchases (trying to keep them to a minimum, of course) while paying off the larger balance elsewhere.

As mentioned earlier, most 0% BTs are offered to new customers but you would not be regarded as a new customer if you already had a Barclaycard, even if you weren't using it.

In the past there have been card providers who offered 0% BT to existing customers (e.g. MBNA) but I'm not sure whether it happens much these days. Even if it did, you couldn't be sure that one would be on offer at the time you needed it.

Elsie348

I see, so it would be a case of checking with Barclaycard nearer the time, and/or shopping around...

If I then had to open a new CC account, would that have a negative impact on my credit rating?

Consumerist

Elsie348 wrote: »

I see, so it would be a case of checking with Barclaycard nearer the time, and/or shopping around. . . If I then had to open a new CC account, would that have a negative impact on my credit rating?

Providing you keep up all your payments on time, every time and don't apply for several cards, a single card application should not adversely affect your credit rating.

It's not clear why you want to BT back to Barclaycard specifically.

By cancelling the current Barclaycard, however, you are more likely to be regarded as a new customer to them at the time you next want to BT.