how to beat balance tranfers rules

leeroy2612

Hi,

Im sure that i have gone about this the lazy/not the most affective way, but im new to this money saving malarky.

Ive took on the Barclaycard 0% for 24 months off, to try and cut out the interest on a few other loose ends i have. I didnt realise that the 0% only applied to credit card transfers. Anyway my newbie way of thinking is to increase the credit limit on my other credit card so that i can pay off the "loose ends" and then transfer what would then effectivley be one credit card balance to my barclaycard at 0%.

please dont pull any punches, if this is a stupid idea, please laugh and tell me why

sfax

Depends what the loose ends are. If they are things you can pay using a credit card then yes, maybe, but don't assume you'll get an increased limit. They'll credit check you before increasing your limit and see the other search

grumbler

sfax wrote: »

Depends what the loose ends are. If they are things you can pay using a credit card then yes, maybe,

At the cost of the cash advance fee virtually any loose ends can be covered.

but don't assume you'll get an increased limit. They'll credit check you before increasing your limit and see the other search

Generally, you can make two or more consecutive BTs from the same old card, but there can be time limit for 0% BTs to the new card.

sfax

Yes, would need to know the figures but you get 2 months to transfer as many balances as you like so you may be able to get away without increasing your existing limit by transferring the whole balance, spending and then transferring the rest.

Cash advance is an option but with handling fee this becomes twice as expensive as a normal BT after a purchase

YorkshireBoy

leeroy2612 wrote: »

I didnt realise that the 0% only applied to credit card transfers.

please dont pull any punches

Next time you have a 'plan', either read and understand the T&Cs applicable or post your plan/ask for advice on this board first.

For example, an MBNA card would have given up to 22 months 0% on BTs for a 2.85% fee, and up to 22 months 0% on your 'loose ends' (via their 'money transfer' feature) for a 4% fee.

sfax

@Grumbler: I like your signature but you should include guidance on its/it's as it's (not its) one of the most common mistakes on forums

Martinslovechild

sfax wrote: »

@Grumbler: I like your signature but you should include guidance on its/it's as it's (not its) one of the most common mistakes on forums

Quite right! The trick is to remember that it's should only be used where it replaces it is or it has.

Another one which pops up regularly is advise instead of advice. I've lost track of the number of times I've seen somebody request "advise" !!

By far the most common mistake I see (literally on a daily basis), however, is your instead of you're. You're is of course a conjugation (shortened form) of "you are", so you should never write "Your great". I can't help but think 'your what is great??!!'

grumbler

Unfortunately, the number of characters in the signature is limited, so I included the most annoying (me) common mistakes.
Another annoying and common one is wont instead of won't.

sfax

Martinslovechild wrote:

By far the most common mistake I see (literally on a daily basis), however, is your instead of you're. You're is of course a conjugation (shortened form) of "you are", so you should never write "Your great". I can't help but think 'your what is great??!!'

Only daily? Half an hour later, one thread up:

https://forums.moneysavingexpert.com/discussion/4352505



Your right off course, its a big problem, these people definately should of taken your advise but they wont.

OK, OK, I'll stop now

BugsyBrowne

Martinslovechild wrote: »

Quite right! The trick is to remember that it's should only be used where it replaces it is or it has.

Another one which pops up regularly is advise instead of advice. I've lost track of the number of times I've seen somebody request "advise" !!

By far the most common mistake I see (literally on a daily basis), however, is your instead of you're. You're is of course a conjugation (shortened form) of "you are", so you should never write "Your great". I can't help but think 'your what is great??!!'

What is "you're all weirdos in English vocabulary"who are trying to act smarter then you really are as where I come from and you corrected the way someone spelt you'll get a smack right on the boat.

Martinslovechild

sfax wrote: »

Your right off course, its a big problem, these people definately should of taken your advise but they wont.

OK, OK, I'll stop now

Hahahaha :rotfl: