Credit Card to Pay off Another Credit Card

treakle

Hi all,
I've currently got a credit card with a high interest rate. Is it best for me to take out a second credit card with a low interest rate and 0% balance transfer and use that to pay off the existing credit card?
I'm not sure whats best as this is all new to me. Asking on behalf of someone else, and ive never had a credit card before so dont know where to start or what hidden traps etc to look out for.
Any help would be greatly appreciated.

grumbler

treakle wrote: »

....
I've currently got a credit card with a high interest rate....Asking on behalf of someone else, and ive never had a credit card before

:huh:

so dont know where to start or what hidden traps etc to look out for.
Any help would be greatly appreciated.

>> Cut Existing Debt Costs

Consumerist

Once you've made up your mind whether you have a credit card or have never had one, you could try <MSE 0% Credit Cards> article which explains how to use credit cards to reduce debt more quickly.

If you're still not sure whether you have a credit card or not then I don't think anyone can help you - or your "someone else".

boo_star

"Maybe" they shouldn't write contradictory statements then.

bspm

sorry post disappeared

Maybe they mean they have NEVER had a credit card BEFORE (they may have one now which they have a high balance on)

Maybe they also mean THEY ARE ASKING ON BEHALF OF SOMEONE ELSE as they have never had a credit card BEFORE and don't know where to look for info.

Maybe, just maybe, the person they are asking on behalf of is going to help look for a better deal?

Thought this site was for advice, so many keyboard warriors on here have a condescending attitude

bspm

boo_star wrote: »

"Maybe" they shouldn't write contradictory statements then.

I rest my case, condescending as expected.

bspm

Or even maybe they forgot to add the speech marks and were actually asking for someone else who isn't a member?

Hi all,
I've currently got a credit card with a high interest rate. Is it best for me to take out a second credit card with a low interest rate and 0% balance transfer and use that to pay off the existing credit card?

Hi all,
''I've currently got a credit card with a high interest rate. Is it best for me to take out a second credit card with a low interest rate and 0% balance transfer and use that to pay off the existing credit card?''

Anyway, yes it is best to shift the debt to another interest free card, the information provided by experts who run this site is excellent.

bspm

https://www.barclaycard.co.uk/personal/platinum-third-balance-transfer?WT.mc_id=C021L011N91&WT.tsrc=DirectPartners&TC=MSE0330035&mpch=ads

bspm

Awaits .........

Consumerist

bspm wrote: »

. . . Thought this site was for advice, so many keyboard warriors on here have a condescending attitude

See what you mean about keyboard warriors. I think five consecutive posts on a single thread is probably the most I've ever seen.

What seems to have escaped your argumentative attitude is that links were provided to articles which would give help and advice.

. . . And your contribution was what, exactly?

bspm

Consumerist wrote: »

See what you mean about keyboard warriors. I think five consecutive posts on a single thread is probably the most I've ever seen.

What seems to have escaped your argumentative attitude is that links were provided to articles which would give help and advice.

. . . And your contribution was what, exactly?

https://www.barclaycard.co.uk/personal/platinum-third-balance-transfer?WT.mc_id=C021L011N91&WT.tsrc=DirectPartne rs&TC=MSE0330035&mpch=ads
was my input.

Seems posts have disappeared, strange that huh