Balance transfer from one 0% interest card to another . . . but

HurdyGurdy

I have a 0% interest credit card with Tesco, which has almost £3,000 on it. I have been offered, and have accepted, a 0% interest card with my bank (Lloyds) which I wanted to do a balance transfer on. My intention was to cancel the Tesco card once the balance had been cleared.

I have received a letter with the PIN today, and my credit limit on this card is £2,500.

Does this mean that they will transfer £2,500 from the Tesco card and leave the balance of £500 with them, or will they not accept the balance transfer at all, as the credit limits are different?

jonesMUFCforever

You will need to contact LTSB.
You can only transfer up to 95% of your limit so you will have some left over on the Tesco card.

HurdyGurdy

thank you - didn't realise there was a limit. (Note to self - properly read the small print in future!)

jonesMUFCforever

When you phone their card services you could always ask if they will give you a slightly higher limit to accommodate the balance transfer. The worst thing that can happen is that they refuse.