Balance transfer questions

soupyjnr

Hi all,

Just want to check something before I go ahead and do it - its a bit confusing so bear with me

I currently have two credit cards; one with Barclaycard and one with MBNA. The one from MBNA is a new one that I've got for a balance transfer from Barclaycard.

Barclaycard current balance - £2700 (paying interest)

I currently have an offer with Barclaycard which is 0% interest on balance transfers until May next year.

So, I am considering transferring the balance over to my MBNA card, and then transferring it back as a balance transfer to Barclaycard, therefore paying no interest until next year.

Does anybody know if I can do this, or see any problems doing this?

Thanks in advance.

knightstyle

Yes you can do it but with two lots of fees! Best to transfer now to MBNA and then transfer back to Barclaycard just before the MBNA 0% finishes. Don't worry that the Barclaycard offer expires before that, they will come up with another 0% near the time, I get their offers several times a year.
Don't forget to set up the MBNA card for minimum payment each month as if you miss a payment you loose the 0%.

grumbler

soupyjnr wrote: »

...The one from MBNA is a new one that I've got for a balance transfer from Barclaycard.

...

So, I am considering transferring the balance over to my MBNA card, and then transferring it back as a balance transfer to Barclaycard, ...

So, is your new MBNA card not 0%? If so, why have you got it, not a 0% card, for a BT from Barclaycard?