0% credit card clarification please

ted611

Hello, my first post here (apologies for jumping straight in asking for help). Like many I received the MSE weekly email and was reading about the 0% for 42 months.

On the Sainsbury's bank page I see there is an assumed credit limit of £1200. If you transfer £1200 and pay it off within 10 months. Can you balance transfer another £1200 onto the card still at 0%?

Thanks for your help

Oakdene

Most card providers say that any balance has to be transferred within x days of getting the card to qualify for the 0% balance transfer, which in my experience has been 60 days.

ted611

Ok that's what I thought. It is just that I saw this:

• No balance transfer fee applies on transfers made within the first 3 months, 3% afterwards (minimum £3).

So after 3 months you would pay a fee to transfer the debt and then interest every month

Oakdene

ted611 wrote: »

Ok that's what I thought. It is just that I saw this:

• No balance transfer fee applies on transfers made within the first 3 months, 3% afterwards (minimum £3).

So after 3 months you would pay a fee to transfer the debt and then interest every month

Yes that is right....

MallyGirl

but £1200 is a representative figure - it may not be the limit you are offered so don't get hung up on that bit if you were hoping to transfer more. Your limit will be down to your personal circumstances