What is classed as a balance transfer?

BeciDawnG

Hi,
I was wondering if someone could tell me what is actually classed as a balance transfer? I have bought a kitchen from Wren on a buy now, pay later deal but the 0% interest ends in September and I really don't want to pay their ridiculous interest rates! Would this be eligible as a balance transfer?
Sorry if it's a silly question but I'm new to the credit card thing!
Thanks in advance.

CLAPTON

BeciDawnG wrote: »

Hi,
I was wondering if someone could tell me what is actually classed as a balance transfer? I have bought a kitchen from Wren on a buy now, pay later deal but the 0% interest ends in September and I really don't want to pay their ridiculous interest rates! Would this be eligible as a balance transfer?
Sorry if it's a silly question but I'm new to the credit card thing!
Thanks in advance.

no it would not




a balance transfer is usually between two different credit cards


a few CCs also offer a BT between the CC and your bank a/c which obviously allows you to use the money as you wish (often referred to as a super balance transfer)

grumbler

Normally you can transfer a balance from a CC or a store card - unless the CC offers money transfers as well.

MSE articles:

• Balance Transfer Credit Cards
• Cheap Loans

ETA: some finance companies accept CC payments in which case a Spending 0% Card can be a good option.