If I transfer will I still pay no interest?

lara400

I took out a Barclaycard and I have about 15 months left on it until they start charging interest (I took out an offer for interest free for 30 odd months back in 2013).

Anyway, when I took it out I had about 90 days to transfer money to this barclaycard from other cards so I can consolidate it all.

That was ages ago and I have not transfered anything into it as I am scared in case they start charging interest! (before my term end).

I just logged into my account now and I saw this offer on the right hand side:

Transfer a balance from a credit card and pay
0% p.a.
Until 1 March 2016
2.90% or min. £2.90 transfer fee applies

Does this mean that I can transfer money from my HSBC credit card (which is charging interest!) to this card and still remain at paying no interest until March 2016? (I would still have to pay 2.9% or £2.90 fee)

Just scared of accidently doing something stupid and find out I have to pay interest going forward...!

Thanks,
lara

snowflurry

That's the impression I get.

SF

SnowTiger

lara400 wrote: »

I took out a Barclaycard and I have about 15 months left on it until they start charging interest (I took out an offer for interest free for 30 odd months back in 2013).

Anyway, when I took it out I had about 90 days to transfer money to this barclaycard from other cards so I can consolidate it all.

That was ages ago and I have not transfered anything into it as I am scared in case they start charging interest! (before my term end).

I just logged into my account now and I saw this offer on the right hand side:

Transfer a balance from a credit card and pay
0% p.a.
Until 1 March 2016
2.90% or min. £2.90 transfer fee applies

Does this mean that I can transfer money from my HSBC credit card (which is charging interest!) to this card and still remain at paying no interest until March 2016? (I would still have to pay 2.9% or £2.90 fee)

Just scared of accidently doing something stupid and find out I have to pay interest going forward...!

Yes, you wouldn't begin paying interest until 1st March 2016, however you would still have to make minimum payments every month, which appears to be 2.25% of the remaining balance (or £5) every month.

Barclaycard wouldn't be able to remove the 0% interest deal from the account once you've balance transferred it, unless you break the T&C (by missing a payment for example). Now might be a good time to set up a Direct Debit to pay the minimum amount every month, but check future statements to ensure it's been set up. A Direct Debit typically isn't set up in time to pay the first statement.

And you shouldn't use the card for purchases until the balance has been cleared.

planteria

call them to ask, and if you get the answer you are looking for note down the date, time and person you speak to.
if you have allowed the 90days to pass then they may not agree to allow your transfer to be a 0% balance.

GunJack

so, you missed out on 30 months 0% after being accepted for the card, because you were too scared of transferring onto it? So why apply in the first place?

Sharon87

Yes just click on that link to transfer or if they've got a promo code put that in.

You're already paying interest, so just transfer it across!

Candyapple

lara400 wrote: »

I took out a Barclaycard and I have about 15 months left on it until they start charging interest (I took out an offer for interest free for 30 odd months back in 2013).

That was ages ago and I have not transfered anything into it as I am scared in case they start charging interest! (before my term end).

So you took out a special offer balance transfer card for 30 or so months but didn't use the actual facility?

So why do you think it will be another 15 months or so until they start charging interest - huh?

If you took the card out but didn't balance transfer anything over, you basically you lost out on the initial offer because you didn't utilise it within the 90 day timeframe. That's why Barclaycard are sending you other offers to get you to use your card.

Yes you can use this new offer to transfer your balance over from HSBC and Barclaycard won't start charging you interest on it until March 2016.