0% expiry looming- advice please?

wellsy07

Hi all, my names Dazza and I'm hoping to learn some thing or two about
shuffles and applications


I currently have a Barclaycard which the 0%(purchase transfer) which finishes march 2014
iv shifted £1844 off it to a virgin 26 months card (2.7k limit), leaving currently
£253 on Barclays(5k limit), not sure what to do next sensibly.
virgin have offered a existing deal where I can transfer further balances at 0% until januray 2015, but the 1844( has to be dealt with by December of that year.


so my questions are


1)when the barc 0% ends does it just charge intrest on the remaining balance if I left it there or on all balances iv had on it in the 0% period?


2) if I transferred anything to the virgin card on top which balace would my payments be pying first? the shortest balance transfer date?


3) or do I apply(and risk further damage to my recovering score) and get a card with my bank and have 3 on the go?


any advice I would be so grateful, just had another addition to the family on 10th January so I wanna get straight for the year so I can focus on him and my daughter

bigadaj

You'll only start paying interest from the time after your 0% deal ends! at their standard rate probably.

In terms of payments then they go to the higher rate debt first, I'd expect them to go to the earliest finishing 0% deal but you'll need to confirm this with virgin.

How many credit applications have you made recently, two to three every six months or so isn't too bad so worth an application if you haven't done any recently.

longtermplanner

wellsy07 wrote: »

I currently have a Barclaycard which the 0%(purchase transfer) which finishes march 2014
iv shifted £1844 off it to a virgin 26 months card (2.7k limit), leaving currently
£253 on Barclays(5k limit), not sure what to do next sensibly.

If you only have £253 left on the Barclaycard, how about having an economical next 2 months and just clearing the balance, so you don't have to transfer it?

Ant.Evs

longtermplanner wrote: »

If you only have £253 left on the Barclaycard, how about having an economical next 2 months and just clearing the balance, so you don't have to transfer it?

I agree. Just pay off the remaining balance. If you can obviously.

Other than that just transfer it to the virgin card.

I wouldnt personally bother getting another card just to get 0% on a few hundred quid.

Hope this helps:beer:

wellsy07

Thanks for the advice so far people!
The reason I'm even asking over a few hundred quid
Is moneys focused on new baby at the mommet and
I lose a lot of my wage on paternity leave, car tax is up next month

So just a really tough month or so ahead , hence a bit of 'what do I do'
Just I made mistakes before and if I'd just used this site, probly could if avoided

So any further advice I'd be taking it all on and be very grateful:beer::D

wellsy07

Just wasnt sure either if I transferred to virgin,
Which balance would it pay first as there would be 0%
On 1844 til December2015. Plus thevadded transfer
Until January 2015?

Ant.Evs

wellsy07 wrote: »

Just wasnt sure either if I transferred to virgin,
Which balance would it pay first as there would be 0%
On 1844 til December2015. Plus thevadded transfer
Until January 2015?

It would come off the balance where the 0% ends the soonest

longtermplanner

If it's just a really tough month, then it's still not worth the hassle of moving it. Interest on that amount of money for a month will be about a fiver...

Babies don't have to be expensive! Look at freecycle, ask all your friends and colleagues for kit such as cot (just buy a new mattress), baby baths, baby grows, sling etc. Baby won't notice nightlights or mobiles or toys for months - and years in the case of nursery furniture. Get the cheapest buggy you can find - in 6 months you will hate it and want to swap to a lightweight stroller instead.

Spend as little as you can now - you are going to want the money much more as little one grows up

pjread

if you can stick new spending on the barclaycard and pay the full statement balance with cash you would have spent on a debit card/cash/whatever, then you're effectively "interest free" so long as you can keep paying whatever you spend each month.

e.g. if you'd usually use a debit card for shopping, stick 200-250 of shopping on the barclaycard instead and pay off the whole statement balance. then when you get next months', repeat (ideally reducing the spend or keeping more money aside if you can)

I haven't paid a penny of interest on a CC in years, without having a 0% purchase offer at all.