What would you do?

Ragnar05

Hi all I come to this forum all the time searching for advice, a lot of smart people here and i take notice.

Basically I have just got a Barclays platinum credit card with 0% for balance transfers and purchases for 27 months.I have had an Aqua card for a couple of years, which I use a lot and pay in full every month. The Aqua is due the payment of around 600 statement balance , my idea was to pay this in full and start using the Barclaycard for my future purchases, shopping etc, (not having to pay lump sum every month)

I'm now in two minds whether to balance transfer from the Barclaycard to the Aqua paying the statement balance that way, if i can do that?

foxy-stoat

What would the point be of that - you will pay fees every time you make a transfer.

Ragnar05

The fee is 1.99% and my limit is 1000 I’m only using 60% of it for a transfer. I’m confused tho with the balance transfer is it possible to pay the statement balance with it? I usually login to the Aqua app and make a payment, but I don’t know how the balance transfer would work and how long it would take.

blitzboy

Why would you want to pay a 1.99% fee if you can just pay it off for free? Then make any new purchases on the Barclaycard and get the 27 months 0% on those.


Don't you earn 0.5% cashback with Aqua though? Will you end up worse off by not using it?


What have you got this new card for if you don't have a balance to transfer and are paying your other card off in full anyway (and possibly earning cashback)? You say you wont have to pay a lump sum every month... you'll still need to pay the same amount back eventually when the 0% deal ends.