Question

XXMissGreenXX

Evening,

Late and im thinking about my debt! I have a Argos card with monthly fees etc. Haven't had a credit card in over 20 years due to not ever needing one. Can I apply for a Credit card and pay off my Argos card? Sorry to seem stupid but this is all new to me and looking to save money where ever I can.

Thanks for reading

Marcio45

You cant normally make a balance transfer from an Argos card, because it is not really a credit card but a credit account that can only be used at Argos.
Your option would be a credit card that has a deal on money transfers. You would transfer the amount needed to your bank account and then pay off the Argos card.
Naturally, you would need a decent credit rating to be accepted for a money transfer credit card.

CakeCrusader

I have a 'poor' credit rating (thanks to an ex) and I've just been accepted for a balance transfer, so it can be done.

A lot of balance transfer cards won't pay the maximum balance (so if you owe 2k, they may give you a 1.5k limit, it depends on your circumstances). There are cards where you can do a cash transfer, but the limit (again) depends on what they will allow. You can also ask your bank for an overdraft.

I joined this and I found it really helpful; http://www.moneysavingexpert.com/creditclub It tells you all about the different sorts of cards you can apply for, and the likelihood of being accepted taking your credit history into account

XXMissGreenXX

Thanks for your replies

Ive got no issues with credit ratings, ive got a car on HP with a few months left just wanted to see if i could save but applying for a card to then pay them off. Thanks again

Ben8282

XXMissGreenXX wrote: »

Evening,

Haven't had a credit card in over 20 years due to not ever needing one.

A strange statement to make considering that you have an interest bearing balance on a storecard with a higher APR (29.9% I believe) than a decent credit card would have offered.
You say you have no problems with your credit rating, so why did you opt for this high APR storecard in the first place?

Marcio45

Ben,

I have the Argos card as well, along with credit cards with much lower interest rate. Remember that with Argos card you dont need to pay a penny on interest if you take advantage of the many offers, like buy now pay in 6 months. The same with Very... i have used them for many years and never paid interest.

You just have to be disciplined and understand how it works. i learned my lesson. It is not the case of the author of this msg as he appears to be paying interest.