Partial Balance Transfer

IrnBru22

Hi!

I wonder if someone can help with a quick query.

My partner transferred his balance when his 0% rate ran out. Naively (also stupidly) we didn't check the purchase interest on the new card, until we booked a hotel for our honeymoon on it.

I now realise we are paying interest on that and are therefore not making the deal the best for us. If I transferred part of the current debt (£1000 - the amount for the hotel) to a new 0% in my name, would this enable us to return to a 0% rate as the purchase debt would be cleared? And we would have a 0% with the original transfer in his name and a 0% with the hotel debt in my name.

I hope that makes sense.

Any advice would be greatly appreciated!

IB22

molerat

Yes. The most expensive debt will be paid off by the transfer and the BT amount, as it is now, will be at 0%. There may still be a small amount of residual interest to pay after the transfer is done. Some cards are a bit fussy about transferring debt in another another name but doing it on line usually avoids the question being asked.