Balance transfer problems

CreditCrunchie

It's a Platinum, balance transfer. Thanks

grumbler

CreditCrunchie wrote: »

It's ok, I did it by making a payment to Vanquis online with the Barclaycard instead.

CreditCrunchie wrote: »

Argh problems now trying to pay the Capital One with Barclaycard

CreditCrunchie wrote: »

It's a Platinum, balance transfer. Thanks

0% on BTs?
Are you sure that the above transactions qualify for 0% rate? How are you paying one credit card off with another CC?

CreditCrunchie

No idea. I hope so but wouldn't be surprised if not as I still don't understand how this all works. I just made a payment via the Vanquis online account with the Barclaycard. The whole 0% BT thing is a bit useless to me if I can only do it with amounts over £250 as I don;t plan to have that much on credit.

grumbler

Normally CCs don't accept payments by other CCs. That's what BT's are intended for.
I think, there can be some exclusions, e.g. Vanguis if you managed to make a payment to it from Barclaycard. It's possible that C1 is another exclusion, but pretty unlikely IMO.

CreditCrunchie

Well I have enough on the Capital One now to do a BT finally lol. Wish I'd known about the £250 minimum before I got the Barclaycard.

Katgrit

I'd be careful and check carefully to find the consequences of what you've done with the Vanquis card. I'm pretty certain that if you've paid off the Vanquis card by putting it as a *transaction* on the new Barclaycard this will count as a cash advance rather than a purchase or a balance transfer. You'll likely end up paying interest on this amount....it won't be at 0% and you'll be paying interest from now rather than the date of your statement. Be careful - you could get hit with a charges you haven't seen coming. I hope I'm wrong, but you'd best check.

CreditCrunchie

Thank you. How would I check this, just call up Barclaycard and ask?

leeroy2009

yes give them a ring or check your online statement, as its possible you have PAID off that credit card rather than balance transferring it, and if its the former and its a cash tranasaction - you start paying interest from the day of payment till the balance is cleared in full (meaning your now paying interest unless you pay the balance in full, which might be a pain if you have other balance transfers on it!) and what Barclaycard is it exactly? cos im going to confuse you more as most of the cards also come with 6 months 0% on purchases - so its bloody possible you've now got a 6month 0% purchase! (if you've paid a credit card bill with a credit card)


and come back here if you get stuck, and stop paying credit card bills with credit cards lol, your supposed to be balance transferring

CreditCrunchie

Yes it's the 6 month 0% purchases (30 months 0% transfers). I'm planning on having the whole thing paid off within that 6 months. I got the card so I could transfer £160 from my subprimes and buy a laptop (£800) for my business. So far I've managed to do it though I had to up the amount of BT in irder to do so. Bizarrely I kept being declined for those 'everyday' cards, yet they all want to give me a BT!