I would like to apply for new credit card for money transfer please suggest the best

srikanth.sri

Can anyone suggest a best credit card for money transfer for up to 12 month in 0% interest rate
and i would like to know what is APR
if APR is 6.5 how much will be the APR for 5000 for 12 month ?

bsms1147

If APR is 6.5 then the APR for 5000 for 12 month is 6.5.

Marcio45

No one can tell you what apr you will be able to get. Only after the banks assess your credit history you would find out. If you do manage to get a 0% deal for 12 or more months then the apr does not apply. But normally there is a fee for money transfers (between 3 or 5%, paid only once).
By your questions it seems you dont really have much experience with credit cards. I advise you do some reading on it before applying. Terms and conditions of the intended credit card could be a start.
Not many banks offer money transfer (but only balance transfers). I know virgin, mbna and barclaycard often have offers of money transfers to a bank account.
APR basically tells you how expensive interest you will have to pay. Norm is 18 or 19% but you can get less or more expensive depending on credit scoring. If you divide the annual apr by 12 months it will give you the interest for the month. Lets say interest apr of 18%. That gives 1.5% per month. Lets say you owe £1000 in a month you will pay £15 pounds interest for that month. (simplistic view).

Superscrooge

APR - Annual Percentage Rate. I'm assuming you are asking how much interest will you pay on a balance of £5,000 over 12 months at 6.5% APR which by my reckoning would be £325 if the balance remained £5,000 throughout the 12 months.

However as you are making minimum payments each month the balance will gradually reduce so the interest payment will be slightly less but this gives you an idea of the cost.

Below link contains details of the best 0% money transfer cards.

http://www.moneysupermarket.com/credit-cards/money-transfer/

grumbler

srikanth.sri wrote: »

Can anyone suggest a best credit card for money transfer for up to 12 month in 0% interest rate
and i would like to know what is APR
if APR is 6.5 how much will be the APR for 5000 for 12 month ?

If it's 0% for 12 months then APR is 0% for 12 months and it costs you £0 to borrow £5000 (except the fee for the transfer).

chrisfreelander54

srikanth.sri wrote: »

Can anyone suggest a best credit card for money transfer for up to 12 month in 0% interest rate
and i would like to know what is APR
if APR is 6.5 how much will be the APR for 5000 for 12 month ?

Click the following link which will take you to the moneysavingexpert eligibility calculator, which once all your details are entered, will tell you which card you are most likely to get.

https://creditcards.moneysavingexpert.com/?purchases

Hth
Chris

jonesMUFCforever

Are you a UK citizen - are you residing here?

Only asking as .sri suggests Sri Lanka to me.