We're aware that some users are experiencing technical issues which the team are working to resolve. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Minimum time before balance transfer?

Options
Hi All,
Apologies if i'm in the wrong place.

I wanted to ask if anybody is aware of a minimum time before a balance can be transferred? The reason I ask is I have a purchase I would like to make but the best offer I could get was for 0% on a balance transfer but no offer on purchases. Would I be able to make the purchase on an existing credit card and then immediately transfer to the new card to, in effect, have a low rate (1.99 transfer fee) on the purchase?

Any advise would be great!

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    It depends on what else is on your statement and what the balance is comprised of.

    You need to ensure that the allocation of payments works in your favour.
  • dantera
    dantera Posts: 8 Forumite
    Sixth Anniversary First Post
    I currently don't have a balance on the card, it would be a one off purchase for some (expensive) tech which I would then hopefully transfer. Looking at the rates it appears to be the best way, I just wasn't sure if after the purchase on my old credit card there is a minimum time before I can transfer the balance away
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    As soon as it has posted.
  • dantera
    dantera Posts: 8 Forumite
    Sixth Anniversary First Post
    Thanks very much zx81, I had hoped this would be the case!
  • redux
    redux Posts: 22,976 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    However you needn't do the balance transfer just as soon as the item appears.

    You can still wait past the next statement, and pay shortly before the due date after that.

    This gives you 4 to 8 weeks of free credit before the balance transfer is used.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.7K Banking & Borrowing
  • 253K Reduce Debt & Boost Income
  • 453.4K Spending & Discounts
  • 243.7K Work, Benefits & Business
  • 598.4K Mortgages, Homes & Bills
  • 176.8K Life & Family
  • 256.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.