Balance transferring from one card to multiple new

filthynines

Hi all,

I have been helping my partner manage her debts. She presently has one card with a balance of approx £3,000 at 17.9% APR.

Using this website I pointed her to the Tesco 12 month 0% balance transfer card. She applied, and has been successful, but only with a possible balance transfer of £1,200.00.

Is she likely to be able to transfer just £1,200 from her present card to the Tesco one? Will she then be able to attempt to open a second balance transfer card elsewhere and transfer the remainder?

Thanks in advance

eskbanker

Yes, but only if she can get another card with enough credit to do so.

kloana

filthynines wrote: »

Hi all,

I have been helping my partner manage her debts. She presently has one card with a balance of approx £3,000 at 17.9% APR.

Using this website I pointed her to the Tesco 12 month 0% balance transfer card. She applied, and has been successful, but only with a possible balance transfer of £1,200.00.

Is she likely to be able to transfer just £1,200 from her present card to the Tesco one? Will she then be able to attempt to open a second balance transfer card elsewhere and transfer the remainder?

Thanks in advance

Yes she can transfer only part of the balance to the Tesco card, and try elsewhere for another deal. Even with multiple cards, she'd still save a packet (0% is 0% - just the BT fees to consider). She'd still make a good dent, even if she only qualified for the Tesco card.

There are other, much longer deals available than 12 months, by the way (success depending upon credit rating, of course).

filthynines

Thanks - I agree that even if she gets declined for subsequent cards she's still going to have all of that interest against the £1,200 that can be transferred.

Thanks for the help, both.

Nasqueron

filthynines wrote: »

Thanks - I agree that even if she gets declined for subsequent cards she's still going to have all of that interest against the £1,200 that can be transferred.

Thanks for the help, both.

BTW you may find there is a transfer limit of 90% of max limit - remember that the transfer fee goes onto the BT card so even if it was possible to do 1200 you would then be over the limit