Money transfer vs Balance transfer

pmartin86

Hi all, I'm sure I've seen this posted somewhere before but for the life of me can't find it, so I apologize in advance!

I've got a Barclaycard that's got a nice round 0 balance and i've had 2 offers through in the last couple of days, one for 6 months 0% money transfer at 1.9% fee, one for 12 months 0% balance transfer at 2.9% fee. As I've just moved house, I've accumulated about £800 of balance on my Natwest CC, which I can afford to clear at £200 per month. The obvious choice seems a money transfer of £800 to current account, then pay balance in full on NW card and pay of Barclaycard at minimum while putting enough into a saving account to pay in full at 6 months. However, there's a small nagging feeling that money transfers reflect badly on credit files, I've no idea where I've got this idea from, so if anyone can confirm, if im correct or not, that would be much appreciated. If its a case of paying an extra £8 and not harming my file any further, ill happily pay it and do a traditional BT.

iancrt

Only thing a CRA has is the balance - no information on how it was used.
If you wanted to borrow from barclays in the future they would know. I doubt they would care though.
CC companies only make money on your debt, so this is a way to get your debt. They hope you don't pay it all off at 0% and they make a bit in the 'handling fee'.