transfer a balance transfer?

jolfc

i did a balance transfer in april to a new 0% nationwide card i acquired(only got it for 0%). halifax have offered me a 0% deal on my card with them ( they are who i bank with) am i able to transfer from the nationwide card to halifax and close nationwide without it looking negative on my credit report and is there any clause that says you can not transfer a transfer as it were.many thanks for any answers.

blitzboy

jolfc wrote: »

i did a balance transfer in april to a new 0% nationwide card i acquired(only got it for 0%). halifax have offered me a 0% deal on my card with them ( they are who i bank with) am i able to transfer from the nationwide card to halifax and close nationwide without it looking negative on my credit report and is there any clause that says you can not transfer a transfer as it were.many thanks for any answers.

Yes you can re-transfer a balance if you wish.

However, why would you want to pay a new balance transfer fee (around 3% of the debt) when you are not paying any interest anyway on the nationwide card?...

jolfc

blitzboy wrote: »

Yes you can re-transfer a balance if you wish.

However, why would you want to pay a new balance transfer fee (around 3% of the debt) when you are not paying any interest anyway on the nationwide card?...

i never thought about the fee, i think it would be about £15, i just wanted to have everything with one bank now halifax offered me the 0%. i shall have to think about it a little more now.
thank you for your answer. do you know if it would have any negative affect on my credit if i do shut the nationwide card so quickly.

CLAPTON

jolfc wrote: »

i never thought about the fee, i think it would be about £15, i just wanted to have everything with one bank now halifax offered me the 0%. i shall have to think about it a little more now.
thank you for your answer. do you know if it would have any negative affect on my credit if i do shut the nationwide card so quickly.

bad idea to have everything with one company

if you have any dispute with them or they have system problems you may find you have no access to money for a while

with easy online access and faster payments there is no real advantage either.

jolfc

so as i dont really need the available amount on my halifax if i reduce it or close the card will that be a credit report negative?:)

blitzboy

jolfc wrote: »

thank you for your answer. do you know if it would have any negative affect on my credit if i do shut the nationwide card so quickly.

It depends on how close to the credit limit you are on your other card. It is always a good idea to have some 'spare' credit to show companies that you are not struggling with your debt and maxing out every credit option you have got.

Perhaps you could use the empty card for small spending (e.g petrol each month) and pay it off in full each month to avoid interest. This would show you using your available credit responsibly and within your means:)