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Balance transfers???
Missg90
Posts: 2 Newbie
in Credit cards
Am i allowed to transfer a balance from tesco to another card and then back again?? Iv got a 0% offer from tesco but its my main spending card at the mo so got a fair sized balance on it that would be brill to get 0% on!
0
Comments
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Yes. Although you wil need to pay 2 BT fees. And run the small, but theoretical risk, that Tesco reduce your limit once you have BT'd out.0
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I have transferred from tesco before but to BC which was longer 0%. Never transferred straight back to tesco tho. The fees for transferring twice are less than the interest im paying anyway so it works out ok. Wasn't sure if i was allowed to do it!0
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Another option would be to get a credit card that has no BT fee (although there will be a much higher interest rate, ~18%). BT to that card for free, and then BT it back to Tesco, this way you only pay Tesco's fee.Credit 'Score' - Don't buy the credit 'score' that Experian, Equifax and Noddle want to sell you. It's an arbitrary number that means nothing when it comes to applying for credit.
ALWAYS HAVE A DIRECT DEBIT SET UP FOR THE MINIMUM PAYMENT ON YOUR CREDIT CARDS, REGARDLESS OF WHETHER YOU PLAN TO LOGIN AND PAY EACH MONTH.0
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