Think this is a silly question but...

lyle1993

I currently have a balance of 1700 on my Nationwide Credit Card. I am looking to transfer this balance to a new card, but when i open my new card and transfer the balance, will that 1700 be taken off my available credit limit? so if I am offered a credit limit of 3000, and then I transfer the balance across, will that leave me with 1300 available credit?

[Deleted User]

Correct. .

MoneyMission2015

It will be a little bit less than that because there will be the balance transfer fee too.

Enterprise_1701C

One other thing, DO NOT spend on the card, any repayments would be directly attributed to the new purchases and you would end up paying interest if it is supposed to be an interest free transfer. You would be better to keep it purely for the balance transfer until you clear it.

lyle1993

Enterprise_1701C wrote: »

One other thing, DO NOT spend on the card, any repayments would be directly attributed to the new purchases and you would end up paying interest if it is supposed to be an interest free transfer. You would be better to keep it purely for the balance transfer until you clear it.

if it was a 20 months 0% on balance transfers and purchases I wouldn't get charged for any further purchases would I?

Jagga

You wouldn't pay the interest if it offered the interest free period for purchases. But the interest free period is not always the same as the for transfers but could be a lot shorter depending on which card you get.

gingercordial

Jagga wrote: »

You wouldn't pay the interest if it offered the interest free period for purchases. But the interest free period is not always the same as the for transfers but could be a lot shorter depending on which card you get.

Sorry, I misunderstood something, ignore this.