balance transfer question

poheZ

HI

I have £2000 on my Natwest CC at 18% apr. At the moment i am paying £40-50 per month in interest.

Firstly, am i right in thinking that if i transfer this balance to a 0% credit card that means i wont have to pay any monthly interest (untill the deal ends)?

Secondly is it possible to apply for a credit card with £7500 limit (or more) at 0%? As i have other overdraft debts that are at 18% and wondered whether i could ship those over to it?

Fruit_and_Nut_Case

poheZ wrote: »

HI

I have £2000 on my Natwest CC at 18% apr. At the moment i am paying £40-50 per month in interest.

Firstly, am i right in thinking that if i transfer this balance to a 0% credit card that means i wont have to pay any monthly interest (untill the deal ends)?

Secondly is it possible to apply for a credit card with £7500 limit (or more) at 0%? As i have other overdraft debts that are at 18% and wondered whether i could ship those over to it?

• No interest but you still have to make the minimum monthly payments.
• You don't normally get to choose your credit limit; you take what they give you.

poheZ

Thanks

If i applied for 2 or 3 0% cards at once is that a problem?

YorkshireBoy

Your debt and interest rate equate to around £28 a month interest, not £40-50.


MBNA offer money transfers (cash to your current account at 0%) as well as balance transfers. Details on their website.

Horseunderwater

When you say other interest bearing overdrafts - do you mean a bank account or a store card or what? The only 0% BT CC that also does bank accounts is MBNA. When I applied in March I asked for the 30 month deal & got 20 mths 0%, but with sufficient to cover my debt.