Your opinion

holiday_pie

Hi,

First time poster!

I would like peoples opinions on a Credit Card thought I am having.

I am coming to the end of my 0% time with First Direct and will look to transfer to a new card (still to apply). Before I do, I was thinking of taking the remainder of the available credit as cash, to pay someone.

Then transfer the full balance, when applying for a new Credit card.

Is there anything I should consider, apart from the cash fee for doing this?

Thank you - just trying to get my finances in order!

HP

Mr_Goodkat

I would get the balance transfer card prior to taking any cash advances just make sure the card will allow you complete balance transfers for a certain period after opening.


You need to ensure you get accepted for the balance transfer card and the limit is sufficient to cover both your exiting balance and the cash advances you intend to do.


Cash advantages are reported to CRAs so could impact your ability to get a 0% card if you do them prior to applying.


It may be worth looking at the likes of MBNA that allow super balance transfers and get the cash that way as well as doing the standard balance transfer from the FD card

holiday_pie

Thank you, Mr GK!

Appreciate your feedback and knowledge.