We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Balance transfer so credit card is in debit...
Unknownbloke
Posts: 7 Forumite
in Credit cards
Hi,
Hope this is the right place.
I've taken out a credit card (virgin money, 0% balance transfers for 23 months) to do a balance transfer of existing credit (about £2.5k) I need to use the balance transfer offer within 60 days (I applied too early) but I will have some large purchases in July which I'll be using my credit card for.
Am I allowed to transfer £4k so that my account is in debit or will the payment be stopped?
I'm supplementing what I'm buying with savings but thinking ahead I'll end up using a credit card for part if it anyway so this might save cash... I can do a balance transfer to my account but that has a 4% fee rather than 1% fee.
Hope this is the right place.
I've taken out a credit card (virgin money, 0% balance transfers for 23 months) to do a balance transfer of existing credit (about £2.5k) I need to use the balance transfer offer within 60 days (I applied too early) but I will have some large purchases in July which I'll be using my credit card for.
Am I allowed to transfer £4k so that my account is in debit or will the payment be stopped?
I'm supplementing what I'm buying with savings but thinking ahead I'll end up using a credit card for part if it anyway so this might save cash... I can do a balance transfer to my account but that has a 4% fee rather than 1% fee.
0
Comments
-
it is breaking the T&Cs to put the card in creditI’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
& Credit Cards 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.0 -
Thanks! I thought there'd be something! Worth double checking though
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards