Can you transfer from one balance transfer card to another?

grumbler

waveygravey wrote: »

Another thought is, how do I check what the terms of each of these cards are? i.e the student credit card that I bought the £250 I know is not 0% on purchases, just not sure how much the APR is as cant find the paperwork.


Ditto with the Barclays, not sure how much it would be to transfer a balance now I'm outside the initial 0% transfer window (I just know there would be a charge)

Check your statements?

waveygravey wrote: »

"I'm guessing you've divided your balance outstanding by the number of months left on your 0% deal? (And that is why a transfer would "allow" you to make smaller repayments?)"


Yup exactly. repayments would go from ~£67 month to £42 month, even with adding said new purchase and transfer fee, just because ive increased the number of months.

Well, how transferring a big balance now is better than simply reducing your monthly payments and then transferring the remaining small balance in two years - thus taking full advantage of the current 0% deal and saving on BT fees?

waveygravey

Good idea, had not thought of that. I had just stuck by the mantra "clear the card before the end of the 0% period"


Your idea would make use of the current 0% window. but then I would have to still move that money off the purchasing NatWest card by the end of the month... interesting. thanks!

grumbler

For a while make minimum payments to the 0% card and pay as much as possible to the 'hoover' card. It won't take long to clear it and the interest you pay will be comparable to the BT fee if not smaller.