need some good advice

doncorleone1

hi and thanks for any replies.
currently got barclaycard with £7000 on paying ok 6.9% life of balance ,if i was to take up there current offer for 6months 0% balance transfer would this be paid off first ,and after that go back to the 6.9%

any help welcome

cheers

jo-bo

It wouldn't go back to 6.9% unless that's your standard apr.
What kind of Barclaycard do you have? Is it initial, platinum, simplicity?

sfax

How would you just "go on" to it? You would have BT off the card to another one and then BT back on again and pay 2 x handling fee. You can't just change the rate you are on.

Also, if you are paying 3% handling fee then 6 months at 0% is worse than your LOB rate. Equivalent APR is 8.3%

Tixy

Do you mean if you transferred more money on to this same card - on a 0% bt offer?

If so then any repayments would pay off the 6.9% debt balance first.
When the 0% deal finishes and that part of the balance reverts to a higher APR (presumably higher than 6.9%) then your repayments will then pay off that higher rate balance first. Once that balance is all clear then your repayments will then start to pay off the 6.9% balance again.

nomoneytoday

If you work out how much you could pay off interest free during that period, there's nothing stopping you from moving that elsewhere, leaving the balance on the lifetime %

doncorleone1

barclaycard initial ,and yes thanks Tixy ,that was what i needed to here ,cheers all and thanks