0% Balance Transfer

m4tty_j

I recently got a new credit card to move my balance in a 0% balance transfer.

A week after the transfer, the original card sent me a letter offering a LONGER 0% balance transfer period.

Can I move the balance back to the original card so soon after moving it away? Does that matter?

[Deleted User]

You can do that if you want.

Westminster

Bear in mind - your 0% has quickly become more as you will be likely be charged 3-5% on each transfer .... so could end up with 10% of your balance as a fee just for moving it from and to your original card.

MothballsWallet

It's not something I've ever done, but if the transfer fees aren't too bad (as these aren't usually counted for the purposes of the balance transfer interest rate) I suppose it wouldn't be an issue.

Edi81

I would keep it where it is.
The original card provider will likely continue to send you offers allowing you to bt again in the future.

m4tty_j

Thanks Guys.

Transfer fee is 1.5%. Think I'll move it back and just chip away at it. Use the new one for new purchases as its an air miles card

Ben8282

Air miles have been called avios for years now so doubt you have an air miles card.
It is highly unusual for an existing provider to offer an existing customer balance transfer for a longer period than is offered on new accounts. The only currently available 'air miles' card is the Lloyds avios card offering 29 months at 3% fee. What company is giving you an existing customer balance transfer for longer than that? 3% + another 1.5% is 4.5%. Expensive balance transfer.

m4tty_j

Thank you for your input Ben. I'm aware that airmiles are now called Avios. I was being generic. I was also refering to a different 'Air Miles' scheme. But again, thank you.

The aim wasnt to do an 0% BT in the first place, it was to switch to the 'air miles' card. The 0% has become a side line which has peeked my interest (no-pun) which is why I was asking the question.