First Time Moving to 0% Card

ChrissieS_2

I've just had an application accepted to move a credit card debt to a 0% card. On the application I was asked if I wanted to transfer my balance so I ticked yes and the amount.

Do I now presume that they will take the full amount over?

If not, is it reasonable to order another 0% card for the remainder or will this adversely affect my credit score?

I'm v new to this and have had my current one and only credit card for quite a few years, so feel free to take the p!ss out of a numpty novice.

YorkshireBoy

ChrissieS wrote: »

I've just had an application accepted to move a credit card debt to a 0% card. On the application I was asked if I wanted to transfer my balance so I ticked yes and the amount.

Do I now presume that they will take the full amount over?

Only if you've been told your limit, and the BT amount falls within any ceiling, eg 95% of the limit. Otherwise unsafe to presume anything.

If not, is it reasonable to order another 0% card for the remainder or will this adversely affect my credit score?

You can/should try for another, and yes of course it will affect your credit rating (not "score", because you don't have one!) as you'll have more available credit.

ChrissieS_2

Many thanks YB; that's really helpful.

saver861

ChrissieS wrote: »

I've just had an application accepted to move a credit card debt to a 0% card. On the application I was asked if I wanted to transfer my balance so I ticked yes and the amount.

Do I now presume that they will take the full amount over?

Normally I leave that option off until I find out my credit limit on the new card etc. You usually get 60 days or more to make any BT's from the date of opening the new card. Either way tho is good.

ChrissieS wrote: »

If not, is it reasonable to order another 0% card for the remainder or will this adversely affect my credit score?

If you have had only one credit card and have had a good credit history then you will have a good credit rating. You can check your score on a few different sites for free - Noddle and Clearscore being two. You can also see your reports giving an outline of your financial history. Barclaycard will give its customers a free Experian score.

However, I would not pay too much attention to credit scores as they are merely a guide and all companies have their own internal rules. That said, if there was an error on your credit report then you should deal with it.