Balance transfer plus new loan

danielnz31

Hi,

I just need some advice about the best way of combining a balance transfer on my 3000GBP, 20%APR barclaycard balance, with acquiring a new loan of 3000 pounds to buy a car. I am not sure of my credit score, but have never defaulted on any of my minimum payments or direct debits. I have used my current account overdraft a lot though. I am thinking that a combined transfer + purchases card at 0% for 24 months would be the best option, then try to pay back within that time.

Any advice much appreciated.

Thanks

grumbler

And the limit is...?
If you really can pay by a CC for the car, generally, you don't need a 'combined' card as you can pay with Barclaycard and then transfer the whole balance. If Barclaycard limit is low, you can do this in two or more steps if needed, i.e. transfer the existing balance first.

If you can't pay by a CC, then you need either to withdraw cash from Barclaycard and pay the cash advance fee or your new card has to offer Money Transfers

danielnz31

I have an 8k limit on my barclaycard so that is an option. If I buy a car through a dealership I can pay with the card, otherwise I may have to do a cash transfer.

However is there no limit on how much you can balance transfer in a given period - and is 6k usually within the credit limit of most transfer cards ? It seems too good to be true to transfer 6k to a 0% deal from 20%.

grumbler

For BTs the limit is typically 90%-95% of the credit limit.