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Using 0% Card to pay off Catalogue
GazNicki
Posts: 145 Forumite
in Credit cards
I have a credit card with a 0% balance transfer offer on it which I have used to transfer my Aqua card balance onto.
I have available credit on the new credit card, and still well within my 60 days to make balance transfers onto in order to benefit from the 0% balance transfer offer.
Can I use my Aqua card to clear off the balance of my catalogue (very) account and then do another balance transfer onto the new 0% card? Am I allowed to make multiple balance transfers to the same credit card?
I have available credit on the new credit card, and still well within my 60 days to make balance transfers onto in order to benefit from the 0% balance transfer offer.
Can I use my Aqua card to clear off the balance of my catalogue (very) account and then do another balance transfer onto the new 0% card? Am I allowed to make multiple balance transfers to the same credit card?
GETTING BACK ON TRACK (SLOWLY)
Aqua Card: [STRIKE]-£1122.43[/STRIKE] £0 (DFD 12/04/17) | Barclaycard (0%): -£1898.85 (DFD 15/11/2020) | Blackhorse HP: [STRIKE]-£6997.00[/STRIKE] £0 (DFD 12/04/17) | Very.co.uk: [STRIKE]-£789.69[/STRIKE] £0 (DFD 12/04/17) | Zopa Loan (16.9%): £3135.00 (DFD 19/10/18) | Natwest Loan: £5584.00 (DFD 01/09/2020)
Debt: -£17628.12 @ 01/03/17 --> -£10617.85 @ 12/04/17
Aqua Card: [STRIKE]-£1122.43[/STRIKE] £0 (DFD 12/04/17) | Barclaycard (0%): -£1898.85 (DFD 15/11/2020) | Blackhorse HP: [STRIKE]-£6997.00[/STRIKE] £0 (DFD 12/04/17) | Very.co.uk: [STRIKE]-£789.69[/STRIKE] £0 (DFD 12/04/17) | Zopa Loan (16.9%): £3135.00 (DFD 19/10/18) | Natwest Loan: £5584.00 (DFD 01/09/2020)
Debt: -£17628.12 @ 01/03/17 --> -£10617.85 @ 12/04/17
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Comments
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You're allowed to make multiple BTs, but do Very accept card payments?0
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A fair point well made that I hadn't checked, but yes they do permit payments by card.Deleted_User wrote: »You're allowed to make multiple BTs, but do Very accept card payments?GETTING BACK ON TRACK (SLOWLY)
Aqua Card: [STRIKE]-£1122.43[/STRIKE] £0 (DFD 12/04/17) | Barclaycard (0%): -£1898.85 (DFD 15/11/2020) | Blackhorse HP: [STRIKE]-£6997.00[/STRIKE] £0 (DFD 12/04/17) | Very.co.uk: [STRIKE]-£789.69[/STRIKE] £0 (DFD 12/04/17) | Zopa Loan (16.9%): £3135.00 (DFD 19/10/18) | Natwest Loan: £5584.00 (DFD 01/09/2020)
Debt: -£17628.12 @ 01/03/17 --> -£10617.85 @ 12/04/170 -
Absolutely 100% you can do this:)0
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Well I cocked that one up royally.
I had both cards out to sort it out, and paid the balance with the new Barclaycard instead of the old Aqua.
Could one of you guys please shoot me or something?GETTING BACK ON TRACK (SLOWLY)
Aqua Card: [STRIKE]-£1122.43[/STRIKE] £0 (DFD 12/04/17) | Barclaycard (0%): -£1898.85 (DFD 15/11/2020) | Blackhorse HP: [STRIKE]-£6997.00[/STRIKE] £0 (DFD 12/04/17) | Very.co.uk: [STRIKE]-£789.69[/STRIKE] £0 (DFD 12/04/17) | Zopa Loan (16.9%): £3135.00 (DFD 19/10/18) | Natwest Loan: £5584.00 (DFD 01/09/2020)
Debt: -£17628.12 @ 01/03/17 --> -£10617.85 @ 12/04/170 -
That was daft.
Your request has been logged and actioned. This message will self destruct in 5, 4, 3 2,........
Perhaps check with Aqua if they'll offer you a balance transfer offer. All three of my CC's are constantly throwing transfer options at me. But I have no experience with Aqua, you might get a better rate than your Barclaycard and no doubt very.
Unless you have an offer on purchases on the Barclaycard too? I did when I first opened one, not sure how common that is now.0 -
How much was the balance? Is it worth worrying about?
How quickly could you clear it?0 -
The balance was £789.69
I've freed up a substantial amount of funds over the past few weeks, and I believe I do have a 0% period on purchases of 3 months. So I will just have to see what happens there. The annoying part is, the balance on Very was at 0% for the next 6 months.
I deserve to be flogged. Not at dawn though, that is far too dignified in this case.GETTING BACK ON TRACK (SLOWLY)
Aqua Card: [STRIKE]-£1122.43[/STRIKE] £0 (DFD 12/04/17) | Barclaycard (0%): -£1898.85 (DFD 15/11/2020) | Blackhorse HP: [STRIKE]-£6997.00[/STRIKE] £0 (DFD 12/04/17) | Very.co.uk: [STRIKE]-£789.69[/STRIKE] £0 (DFD 12/04/17) | Zopa Loan (16.9%): £3135.00 (DFD 19/10/18) | Natwest Loan: £5584.00 (DFD 01/09/2020)
Debt: -£17628.12 @ 01/03/17 --> -£10617.85 @ 12/04/170 -
If very was 0% would have gained even if it went onto 0% card.
Isnt 0% simply 0% on card or Very...im probably missing something very obvious,so apoligises in advance.0 -
The card is new, so has a balance transfer of 0% for 25 months.
The very was based on 3 purchases with the longest having 0% for 6 months, and the shortest having 0% for two months.
The plan was to pay very off using my old Aqua card, then transfer the balance to my new Barclaycard, thus extending the 0% on the Very Balance to 25 months.
Instead, because I am an idiot, I reduced the 0% on the very down to 3 months only.
I will tap up AQUA in a few weeks to see if they can offer me a 0% balance transfer on the existing card and then transfer any balance subject to interest on the Barclaycard to that. Luckily with the new rules on card payments having to hit the highest interest balances first, I shouldn't feel too much of a hit.
The other benefit is that the interest rate on the Barclaycard is 18.9%. Very is 49.9%. So even if I can't get the balance at 0% for 25 months, I will still be better off.GETTING BACK ON TRACK (SLOWLY)
Aqua Card: [STRIKE]-£1122.43[/STRIKE] £0 (DFD 12/04/17) | Barclaycard (0%): -£1898.85 (DFD 15/11/2020) | Blackhorse HP: [STRIKE]-£6997.00[/STRIKE] £0 (DFD 12/04/17) | Very.co.uk: [STRIKE]-£789.69[/STRIKE] £0 (DFD 12/04/17) | Zopa Loan (16.9%): £3135.00 (DFD 19/10/18) | Natwest Loan: £5584.00 (DFD 01/09/2020)
Debt: -£17628.12 @ 01/03/17 --> -£10617.85 @ 12/04/170 -
The card is new, so has a balance transfer of 0% for 25 months.
The very was based on 3 purchases with the longest having 0% for 6 months, and the shortest having 0% for two months.
The plan was to pay very off using my old Aqua card, then transfer the balance to my new Barclaycard, thus extending the 0% on the Very Balance to 25 months.
Instead, because I am an idiot, I reduced the 0% on the very down to 3 months only.
I will tap up AQUA in a few weeks to see if they can offer me a 0% balance transfer on the existing card and then transfer any balance subject to interest on the Barclaycard to that. Luckily with the new rules on card payments having to hit the highest interest balances first, I shouldn't feel too much of a hit.
The other benefit is that the interest rate on the Barclaycard is 18.9%. Very is 49.9%. So even if I can't get the balance at 0% for 25 months, I will still be better off.
Always wondered where Very got the name from..:p:)0
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