Transferring money from new card

jasmin10

I have just received my new Nationwide Credit Card which has 3 months free balance transfers and 12 months interest free.

This is all new to me hence my question.

I owe about £1000 to various place and want to get them all paid off onto this new card and just paid off this new card within 12 months.

On of my debts is to a private individual. Am I able to pay them using on online banking direct to their own bank or would this be classed as a cash withdrawal and incur a charge? If so, what if I transferred it through paypal as paying a friend?

molerat

If there is no money transfer option on the card then Paypal would be your only instant option but will cost you 20p + 3.4%. The other option is to spend on the card and pay off the debt in instalments with the cash you would otherwise have spent.

jasmin10

Thank you, I understand the second option but with regards the first. How do I know if theres no money transfer option? Would paying a person not be like paying a shop or ebay?

shiny76

jasmin10 wrote: »

How do I know if theres no money transfer option? Would paying a person not be like paying a shop or ebay?

It would normally be included in the documentation sent to you by the CC provider - if it's not then it's unlikely to be part of your offer/agreement.

Paying a person isn't like paying a shop. A shop uses a payment processing company to process payments for them. Individuals don't.