Quick Query on Balance Transfer Cards.

ah23

Hi

With a balance transfer card that's at 0% for 24 months and with no transfer fee, will I actually pay any interest whatsoever in any way, shape or form if my balance is paid within the 0% period?

I currently have £1500 to pay off and rather than pay it all off in one go I would rather shift it on to a balance transfer for 24 months, but I just want to make sure I don't pay anything more than what I owe.

And if I pay off the interest in, say, 6 months, will I still get to keep my balance transfer card for future debt shifting, and if so, will the 0% 24 month rate stay the same?

Thank you

[Deleted User]

If you make at least mine payments and don't spend on it, you'll pay no interest.

The BT promo will have a window in which you will need to make the BTs. This could be as short as the first couple of months.

YorkshireBoy

ah23 wrote: »

With a balance transfer card that's at 0% for 24 months and with no transfer fee, will I actually pay any interest whatsoever in any way, shape or form if my balance is paid within the 0% period?

Not if you don't use the card for anything else, eg purchases (if there's no 24 month intro period) or cash.

And if I pay off the interest in, say, 6 months, will I still get to keep my balance transfer card for future debt shifting, and if so, will the 0% 24 month rate stay the same?

Many (most?) cards have a "must BT within 60/90 days" clause for the 0% rate. Even if yours doesn't, you won't get another 24 months 0%...just the balance of what's left of the original 24 months.

ah23

Thank you very much to both, this is all I needed!