Balance transfer question

jimbo83

Hi All

I currently have an MBNA card with no balance and Im going to transfer another balance on to it as it is 0% until Nov 2014.

If i transfer say £2000 onto it and then pay £500 off, can I then transfer another £500 onto the card? I dont have a huge limit on the MBN card so want to try and get as much within the 0% as possible.

Can you generally do that with BT's or will it depend on the card provider?

Thanks

fozmcfc

You can't transfer from another MBNA card or MBNA backed card, such as Virgin.

You might have a time limit also on how long you have to transfer balances, such as before a certain date or within 30 days of opening etc...

But if you are not affected by any of the above then yes you can.

You will pay 2 balance transfer fees though, one for the £2000 and one for the £500. You'll also need time for the £500 payment to clear.

One other thing you can only transfer a upto a certain amount of the limit, normally it's up to 90% of the card limit.

YorkshireBoy

jimbo83 wrote: »

If i transfer say £2000 onto it and then pay £500 off, can I then transfer another £500 onto the card?

Wouldn't it be circa 3% cheaper to simply pay the £500 off the other card?