Just some simple questions

PeelyPeel

These questions may be obvious, but I just can't find it explained somewhere in words I understand.

I've got a Tesco CC that I have about £2k on it that's taking me longer to shift that I expected. As such, after years of always paying it off, i've now not paid off the card in full for a few months, and so am getting charged interest. Balance Transfer Card I hear you scream, and I am aware of them, but I have some questions.

So, BTCards have "promo" periods that vary, but for this question, they are 90 days long. These 90 days are the period you can transfer in debt from other cards, and you then have 6/12/18/24 months to pay it off, which you do by DD. Fine. But some BTCards are also just credit cards, with 0% purchase periods (specifically i'm looking at the M&S Reward Plus). Does that mean, I get 3 months to load the card up with BT's, and also 3 more months of interest free spending, then month 7 i'll get interest on whatever is left be it from purchases and BT's?

Do I still get charged interest if by month 6 I pay the card off to 0, and every month after to 0? I'm just confused by the promo periods I think, as I'm sure I didn't pay interest on my Tesco CC until I didn't zero it out at the end of the month, and I had that for years. (Also, side-question, now I've been charged interest for that card, even if I transfer the debt out, will I always pay interest on purchases with that card? So I should close the account?)

Thanks. Sorry.

[Deleted User]

No the purchases and BT’s are kept in separate “pots”.

You shouldn’t mix your purchase and BT cards together.

Nebulous2

If you are currently carrying a balance and paying interest, then a BT card would improve the situation. BT in the first 90 days then you will get 24 months or however long the card gives at 0% as long as you make at least the minimum payment every month. You are best not to use it for purchases during that time.

Your existing card will still offer you 0% interest from purchase to statement date and then until payment date, the often cited up to 57 days, as long as you pay the statement amount in full. The second month you'll have a small amount of residual interest, but from then it will be free. So you could keep it and put purchases on it.

It sounds as though your original card was a purchases card, with a long period of 0%. That isn't usually combined with a decent BT offer.