Credit card transfer

gemini12

I am probably being really thick but I have never done a balance transfer to a new card so please can someone explain how this works. I understand that you start by applying for a new credit card but then how do you do the transfer.

Kim_13

gemini12 wrote: »

I am probably being really thick but I have never done a balance transfer to a new card so please can someone explain how this works. I understand that you start by applying for a new credit card but then how do you do the transfer.

Here is the MSE guide to the best balance transfer deals: https://www.moneysavingexpert.com/credit-cards/balance-transfer-credit-cards?_ga=2.94361181.1798824297.1513112874-1010848097.1513112873

Other cards will have the option to do a balance transfer, but the deals won't be as good.

Once you're up and running, there should be a link within the online portal of the new card to transfer a balance. If you don't have online access to the card account or can't find the balance transfer option, give them a call.

Can't comment on further steps in the process as I've only seen the link on my own account, I haven't completed a transfer.

Alexd52

If you are opening a balance transfer card, they will often include, as part of the application, a section which asks if you want to carry one out there and then. You just need to fill in the details.
Once a card is open, you can also ring them up within the allotted period, to do the balance transfer that way.

gemini12

Thank you for the information. I am hoping it might save me some money as I had to buy a new car at short notice just before Christmas as some kind soul wrote mine off while it was parked and didnt leave any details. :(The car wasnt worth much so didnt get the insurance company involved as by the time we had paid the excess and lost my no claims it would have left me worse off.