Transfering an balence to an existing account

rosshan_2

Hi, Sorry if this has been covered, this is all a bit confusing to me .

A couple of years ago after hearing Martin in the radio, i got a credit card with a low life of balance intrest rate (American express nector card). I transfered the balance from my egg card to it, but have never spent on the nector card. So for so good.

Now my question is, i have built up a few hundred pounds balance on my egg card again. Can i do another transfer to the other card? What would happen?

Many thanks

Ross

Mozette

Depends what rate you would get if you do another BT - best asking AmEx. If you still get a low LOB deal, all to the good, but if you can't, might be best leaving well alone. But do stop spending more than you can afford to pay back If you can't live within your means go to the debt free wannabe board for advice.

rosshan_2

Mozette wrote: »

Depends what rate you would get if you do another BT - best asking AmEx. If you still get a low LOB deal, all to the good, but if you can't, might be best leaving well alone. But do stop spending more than you can afford to pay back If you can't live within your means go to the debt free wannabe board for advice.

Thanks for your answer. Unfortunately i cant seem to find that information out from AmEx. Which is why i made the post in these forums.
Theres no email system to to ask the question, so they expect you to phone them. Which i will not do, as i have been given false information by banks over the phone in the past, so i dont trust them;)

Jess1983

rosshan

Give Amex a call and ask for any balance transfer offers.
Questions to ask:
If I don't pay off the balance by the end of the offer, will my interest be backdated to when I opened the card?

What is the handling fee?

Does the handling fee accrue standard interest or promotional interest?

What is your payment hierarchy? ( ie, in what order do I pay off my debts, is your fee paid first or is the actual balance transfer paid first?)

Do I need to make a spend on my card to keep the offer going?
( ie do you need to make an actual purchase)

It is within your right to ask to have this put in writing before you take up the offer.



J