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Barclaycard 0% money transfer

Barclaycard have offered me a 0% money transfer to my current account on my barclaycard account

I currently have 4k debt on this card and am paying interest on it. What is to stop me transferring 4K to my current account and then paying off my card with it?

Sounds too good to be true, what am I missing?

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    That'll be fine.
  • MABLE
    MABLE Posts: 4,199 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Barclaycard have offered me a 0% money transfer to my current account on my barclaycard account

    I currently have 4k debt on this card and am paying interest on it. What is to stop me transferring 4K to my current account and then paying off my card with it?

    Sounds too good to be true, what am I missing?

    Have done this myself and as the other contributor has said its fine.
  • Thanks for the replies

    Anyone know why they do it? surely they only lose out by offering this to me with debt on the credit card?
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Some people will just shove more debt on the card, which will then roll on to the standard APR. Overall it will be profitable.
  • block10
    block10 Posts: 219 Forumite
    Part of the Furniture 100 Posts Photogenic Combo Breaker
    edited 31 March 2015 pm31 11:14PM
    ...
    Sounds too good to be true, what am I missing?

    Although the offer is for 0% interest, there is normally a 1.6% fee or thereabouts for a money transfer. I preferred using MBNA as they offered me 0% for 18months. Barclaycard only offered 0% until Jan 16.
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