Balance transfer

nowuntillpayday

Hi all,

Just a quick question- I have had a letter through today from natwest about my platinum credit card offering 0% on balance transfers for 12 months. I have a capital one card with a not so good rate so I am going to transfer the balence from that card. But what I was wondering is this, I have a balance of just over £700 on my natwest card already- can I use my capital one card to clear this and then transfer the whole lot back to my natwest card to take advantage of the 0% for 12 months?
Any help would be appricated.

Many Thanks
Luke

keeleyjadex

Hiya - I think you would need a 'Super Balance Transfer' card such as Virgin to pay off your other card as it's classed as a cash transaction!

chanz4

yes you can bt it from NatWest to cap 1, then back but x2 fees

brianexpert

Thats very true

rishi222

That is the question i am looking for and i got absolutely correct answer thanks guys for nice advice.

chattychappy

What is the amount you are transferring from Capital One? What is your standard interest on Natwest (ie the £700)?

If making a large transfer, I wouldn't worry about the £700. All your payments will be applied to this first, rather than the 0% balance. On my Natwest Plat card, my standard rate is 12.2%. If yours is the same and you will pay down the £700 in a few months at most, then its not worth the double fee.

One other thing. Last time I got an offer from Natwest Plat they also allowed a transfer to my current account. So you could transfer £700 to you current account (leaving two £700 balances on your account) and then send it back to Natwest using internet banking. This will be applied to the interest bearing balance. This will be cheaper than transferring to Capital One and transferring back (only one fee this way).