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Balance transfer frequency?
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JT200492
Posts: 2 Newbie
in Credit cards
Hi everyone I have a quick question.
I transferred about £800 from a halifax credit card to the Santander 0% 27m deal in May of this year.
I’m really annoyed with myself and have ended up spending on my new credit card & now the payments are going to a lot more on new purchases.
My question is - how often can I do a balance transfer? Can I transfer this balance to another card and cut the card up to stop me from
Spending?
Thanks in advance
X
I transferred about £800 from a halifax credit card to the Santander 0% 27m deal in May of this year.
I’m really annoyed with myself and have ended up spending on my new credit card & now the payments are going to a lot more on new purchases.
My question is - how often can I do a balance transfer? Can I transfer this balance to another card and cut the card up to stop me from
Spending?
Thanks in advance
X
0
Comments
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You can do BTs as often as you can get offers to do them.0
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Make sure you factor in the cost of the fee to BT vs the cost of the interest on the purchases within the timeframe you can pay them off. Don't forget you will incur interest the month after you clear the purchases in full but then will be able to chip away at the debt on the 0% promo deal.I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
If you can't be the best -
Just be better than you were yesterday.0 -
how often can I do a balance transfer? Can I transfer this balance to another card and cut the card up to stop me from spending?
X
It appears the Santander card allows 0% BT with 0% fee throughout the 27 month offer period. Some cards/providers limit BTs to the first 60/90 days - I believe.0
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