0% BT Transfer from 0% Purchases card?

rlaw86

This is boggling my mind a little and hoping someone can shine some light on this.

In short, I am trying to build up some 'cash' as I will be moving in (renting together) with my gf for the first and want to build up some money quickly in the short term. I am saving a good chunk monthly anyway so have no issue of paying back any of the below.

I currently have 3 credit cards, Barclaycard (an old Egg card), Barclaycard Gold - 0% BT till Apr 2014, and a Tesco - 0% on purchases for 16 months.

I only use one of my cards at the moment which is the Barclaycard that was transferred from Egg. I spend roughly £600-1000 per month on this but pay the balance off in full each month. I have a good credit limit on this card.

I've only recently applied (not received yet) for the Tesco card and I didn't obtain the credit limit I had hoped for, my credit rating is showing as excellent but I have moved around a fair bit in the last 3 years so guess this hinders me a bit. I was initially planning to use this card for all my spending instead of the Barclaycard above.

I was planning to call up Barclaycard today to cancel my Barclaycard Gold as I haven't used this for around 10 months but noticed that they have offered me a 0% BT till Apr 2014 with 2.9% fee. The credit limit on this card is good as well.

From what I understand I wouldn't be able to transfer a balance from one Barclaycard to another. So what I am now planning to do is to use the Tesco credit card for all my purchases once I receive it and perform a balance transfer to my Barclaycard Gold once I'm near the credit limit for the Tesco card. This is the part where I'm confused/uneducated about, once the transfer has occurred and the Tesco card is back to a balance of £0, could I use this for purchases again and then perform another BT to the Barclaycard Gold at 0% or is this a one time thing? Secondly regardless if I can do a second BT to the Barclaycard would any new purchases on the Tesco card now be at 0% for the remaining period or would I lose the promotional offer as I performed a BT?

Also just to add the Barclaycard I do use, the old Egg card has a 0% BT offer as well till April 2014 but has a higher transfer fee of 3.9%

Sorry it got a bit long winded towards the end but any help is appreciated. Also anyone have any better suggestions?

[Deleted User]

There will be time limits on how long you have to make BT and purchases respectively to attract the 0% promotion. You need to find this out first. Typically, you'd only have 2-3 months for the BTs.

rlaw86

Deleted_User wrote: »

There will be time limits on how long you have to make BT and purchases respectively to attract the 0% promotion. You need to find this out first. Typically, you'd only have 2-3 months for the BTs.

Well I've just given Barclaycard a quick call to enquire about the 0% BT offer on my account and the customer service agent advised me that it would end in a "few days", after a bit of pushing they advised it would be the 15th April. The cynic in me made me think it was a standard answer to try and get the business so not sure whether to believe it or not?

If it wasn't a standard answer then looks like my plan is foiled.