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Barclaycard 0% money transfer

arcadia1980
Posts: 37 Forumite


in Credit cards
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?
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?
0
Comments
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That'll be fine.0
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arcadia1980 wrote: »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.0 -
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?0 -
Some people will just shove more debt on the card, which will then roll on to the standard APR. Overall it will be profitable.0
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arcadia1980 wrote: »...
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 16.0
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