Should I transfer balance or pay it off?

Melbx

Hi,

I'm coming to the end of the 0% period on purchases of my current credit card (it was my first ever credit card, so still trying to understand it all!) and my balance is now only £100.

I want to continue getting 0% on purchases (and possibly cashback too), so initially I thought I could just transfer this to another credit card that offers 0% on purchases (willing to take the small his on transfer fees as my balance is so low), but it seems that every balance transfer card I am looking at wouldn't be a good one for making purchases.

So my question is, is there such thing as a credit card that will allow me to transfer my balance and get 0% on purchases, or should I pay this card off now and then just apply for a new credit card?

Thanks!
Mel

StopIt

It's 100 quid.


Pay it and apply for a 0% purchase card when you need it.

Ebe_Scrooge

It would be very unusual to get a card that offered 0% on transfers and 0% on purchases - most cards are usually one or the other. The simplest thing is to just pay off the existing card then apply for another one that offers 0% on purchases.

SeduLOUs

Ebe_Scrooge wrote: »

It would be very unusual to get a card that offered 0% on transfers and 0% on purchases - most cards are usually one or the other. The simplest thing is to just pay off the existing card then apply for another one that offers 0% on purchases.

There are loads of cards that do both: https://www.uswitch.com/credit-cards/balance-transfer-and-purchase-credit-cards/

radoslaff

Come on, it's only £100. It's really not worth it looking for a balance transfer card. You better chase the longest possible 0% on purchases. And eventually any cashback. It makes much more sense than splitting the periods. If you pay the old cad off and can get a 35 months 0% on purchases is much better than 28 months 0% on transfers and 28 months 0% on purchases. We can't really know what can happen to the credit cards in the next couple of years. Especially with the next financial crisis knocking on the door.