0% balance transfer

Dougie_Bilbie

I got a new tesco credit card and transfered my capital 1 balance over at 0%. I've never spent on the card and only used it to pay off the debt so I've never paid interest. My question is if I spent on my card would interest be on the purchase or the whole amount I have on my card?

jonesMUFCforever

Most cards will operate this way - you still have 0% on your balance transfer BUT no 56 day interest free period on any additional spending - interest will be charged on any new purchases.

IMO it is not a good idea to mix purchases and interest free cards.
Could you not spend what you want on the old Capital One card?

Dobbibill

As Jones says - you are better to put the purchase on the Cap1 card. At least you will have the option to pay off on the due date without incurring interest.

Dougie_Bilbie

I don't have the capital one card anymore as i didn't want 2 credit cards so when I transferred the balance in cancelled the capital one card so I only have the Tesco card

[Deleted User]

Always have at least one back up card, if not more.

Dobbibill

It may be worth getting another card if you are going to put purchases on it.
It won't cost anything if it's only used, then paid in full. (assuming it's not a fee charging rewards type card) You can use as and when required.

Johnben

Just spent 3 days trying to sort out a balance Transfer. Halifax o% made a total hash of it and I had to cancel. Sainsburys offered me a measly £3500 credit limit. Barclays offered me £8300 in seconds. Sainsburys also wanted to send me written documents to sign before they would issue a card. My take is avoid Sainsburys unless you only want to transfer a small balance and avoid Halifax if you want to avoid 20 to 30 minutes waiting to be answered. My credit rating is 988 out of 999 so I reckon Sainsburys only want small balances to avoid supporting large amounts

[Deleted User]

Unfortunately only you and Experian care about your credit score.