Shifting balance from one credit card to another!?

Shabbychic23

I stupidly took out a credit card last year emergences only didn't happen :eek: so I've ended up with a balance of £1800 on it. I have until July until the APR kicks in. I've cut it up since I realised they're pretty dangerous and I was only going to spend the 3.5k limit I had on it. Half in isn't bad for someone with a shopping addiction aha.

Anyway my question is, Can I Balance transfer that remaining amount in July to another credit card say a Barclaycard with 0% balance transfer and pay no interest on top!? I know I have to pay a fee to change it over but I'm guessing it's alot less then the APR LLoyds will be charging me. So then I'd have 30 months to split the remaning balance over so I could pay £50 a month and then by the time it was due to start charging intrest the barclaycard it would be all paid off my balance transfer if that makes any sense :think:

YorkshireBoy

Sounds like a plan to me.

Fruit_and_Nut_Case

Save photons!

grumbler

In fact, the darker the texts, the more photons you save.

[Deleted User]

I take it, you can't manage £450pm?

Fruit_and_Nut_Case

grumbler wrote: »

In fact, the darker the texts, the more photons you save.

Aargh! Silly me. This should help to save the planet.

Macca83_2

Shabbychic23 wrote: »

I stupidly took out a credit card last year emergences only didn't happen :eek: so I've ended up with a balance of £1800 on it. I have until July until the APR kicks in. I've cut it up since I realised they're pretty dangerous and I was only going to spend the 3.5k limit I had on it. Half in isn't bad for someone with a shopping addiction aha.

Anyway my question is, Can I Balance transfer that remaining amount in July to another credit card say a Barclaycard with 0% balance transfer and pay no interest on top!? I know I have to pay a fee to change it over but I'm guessing it's alot less then the APR LLoyds will be charging me. So then I'd have 30 months to split the remaning balance over so I could pay £50 a month and then by the time it was due to start charging intrest the barclaycard it would be all paid off my balance transfer if that makes any sense :think:

Dam nit still can't read it

stinky_daddy

Macca83 wrote: »

Dam nit still can't read it

To read it, hold your mouse button and drag over the entire body of the text - it will then show the text

HTH

s_d

Macca83_2

I'm on the mobile. Highlighting all that will probably cause a major tantrum. I managed to read it when I quoted it. Gave up after all that though :rotfl:

redpete

Shabbychic23 wrote: »

I've cut it up since I realised they're pretty dangerous

It's the shopping addiction that's dangerous, the CC just allows you to satisfy it.

Anyway my question is, Can I Balance transfer that remaining amount in July to another credit card say a Barclaycard with 0% balance transfer and pay no interest on top!?[/FONT]

Yes, IF you can get another CC offering a 0% balance transfer (will be more difficult with your history of only paying the minimum off the current card (I've assumed you are not paying more than the minimum due to the impression your post gives, apologies if I'm wrong))

I know I have to pay a fee to change it over but I'm guessing it's alot less then the APR LLoyds will be charging me.

It'll be about 3%, Lloyds standard interest will be considerably more than this.

So then I'd have 30 months to split the remaning balance over so I could pay £50 a month and then by the time it was due to start charging intrest the barclaycard it would be all paid off my balance transfer if that makes any sense :think:

Minimum monthly payment might be more than £50. The interest free period might not be as long as 30 months.

dealer_wins

This thread is greener than wind-power.