Signing up to a balance transfer card at 0% for 48months

Fred_Lewis

Hi All,

I have had a aqua credit card for a few months now which I took out to rebuild my credit score. Following a limit increase my credit score did indeed improve dramatically and its now excellent. I have some cards available to me (Thanks to MSE CreditClub for the info) that are 0% interest over 48 months and of a much lower APR than my current card.

Questions are:
Can I just go ahead and apply for one of these cards?
If I use 0% to pay off aqua in full can i leave the aqua card in the drawer and I won't be penalised for lack of regular use of the aqua card or will I?

Looking forward to your responces,

Thanks

[Deleted User]

Yes, you can apply. If rejected, leave it a couple of months.

Aqua cards don't currently have dormancy fees. But make sure you are keeping two or three cards active.

[Deleted User]

There are no credit cards that offer 0% over 48 months.

Fred_Lewis

So

I have 0% Trasnfer Card. I proceed with the transfer. Paying off 1debt and then over time I pay off the newly aquired debt. If I was then to make a larger purchase on the new card would this balance then be charged at 20% APR every time. Could I in the future change the offer on the card or is that not really a thing?

[Deleted User]

Don’t get a card to build your score since it’s not a thing.

Clear the debt by BT it over but don’t mix purchases on it.

Use the Aqua card but pay the statement balance off in full each month.

Fred_Lewis

!!! wrote: »

Don’t get a card to build your score since it’s not a thing.

Clear the debt by BT it over but don’t mix purchases on it.

Use the Aqua card but pay the statement balance off in full each month.

Just trying to understand what you are trying to say.

1. Continue using Aqua but pay full statement balance each month.
2. Don't make purchases on the other card, but I could balance transfer (from new card to Aqua) in the future if I needed to right.

Thanks for bearing with me on this. Just trying to understand it better.

[Deleted User]

You would only BT to aqua if the rate was lower.

That would be unlikely outside of a short term BT offer.

[Deleted User]

No.

BT the Aqua card to a new 0% BT card.
Throw as much as you can at this to pay it off before the 0% period ends.
DO NOT MAKE PURCHASES on this card.

Use the Aqua card for your normal day to day purchases and pay it back in full each month following the statement.

What is the balance you are transferring from the Aqua card to the new card and what is the length of the 0% promo?