Would a balance transfer end a promotion on the old card?

tom717

I have a Nationwide card which was 0% on purchases for 18 months, due to end in 4 months.

I was planning to transfer the balance at the end of the 0% period but with the offers around now I think I may miss out if I wait. Specifically I was thinking of using the Tesco no fee balance transfer offer.

Would doing a balance transfer now end the 0% rate on my Nationwide card early?

chattychappy

No. Anything remaining after the transfer would continue at the promotional rate until the end of the 18 months.

From the point of view of Nationwide, they just treat the funds from the new credit card in the same way as if you had made a payment by any other means.

I'm sure any new transactions on the Nationwide account would attract standard rates in the normal way. Usually these 18 month type offers give you the special rate for 18 months but only on balance transfers made at the start of the period. So if you clear the balance yourself now - either by paying it off or by BT'ing to another card - then effectively you are ending the promotion yourself.

tom717

Thanks for your reply.

That's what I would expect, but it was 0% on purchases not balance transfers so I'm not sure.

grumbler

tom717 wrote: »

... but it was 0% on purchases not balance transfers so I'm not sure.

You transfer the balance from NW, not to NW.

You spent £3K on NW card and it's on 0%.
You paid £2K off (BT from NW).
The remaining £1K is on 0%.

Depending on the T&C, you possibly can keep using NW card for purchases and pay no interest for the remaining 4 months.