Barclaycard Money Transfer

1931modela

A quick question regarding Barclaycard Money transfers, does this go against me negatively as opposed to a balance transfer on credit cards.
Deal is 0% till Jan 20 with a 1.9% fee, looking to get approx £3000, I can afford the monthly repayments, but I also have the cash in hand

[Deleted User]

No. It will show as a debt at a promo rate on your files.

System

Remember once you've done the balance/money transfer to not use the card. If you read the small print you'll see you get charged interest on all purchases after the transfer even if you repay that month's purchases in full until the transfer is paid off in full.

[Deleted User]

You need to clear the full balance to have interest waived - so Tarambor is correct.

glentoran99

yes kept digging found it


"And one more thing, if you use your Barclaycard for purchases or cash withdrawals youll be charged interest up to the point you make your payment, even if you pay off those purchases at the next statement."

Ivrytwr3

I have the Barclay card and had the same offer; Money Transfer, 2.4% charge, 0% interest until 2020.

Am i able to use the money transfer to clear an overdraft? Or are there better money transfer cards?

System

Yes you can use the money to clear an overdraft.

1931modela

Ok, I did not know that about the interest on purchases, so maybe will just use savings, there is a small balance on the card at the moment, but not sure I want to chance paying more then I have too.

System

Most people don't know about the interest on purchases once you've done a BT or MT and they don't read the smallprint. As I'm as cynical as hell I was looking for how they made their money out of it and came across that when scouring the T&Cs of the transfer.