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.
We're aware that dates on the Forum are not currently showing correctly. Please bear with us while we get this fixed, and see Site feedback for updates.

0% balance transfer Tesco to Natwest

I have about £5000 on a Tesco card which is near my credit limit. I cannot extend my credit limit for another 7 months however I have been accepted for a natwest 0% balance transfer card. Could I transfer the £5000 at no fee and then continue to spend on the tesco card until the 0% offer ends on that card without paying any fees or charges? This appears to be the case but I want to check I've not missed anything as this is the first balance transfer I will have done.
(I know I could just take out another 0% purchase card but the tesco card is useful for clubcard points on petrol purchases which is a large part of the spending)

Comments

  • It depends if your 0% purchase on your Tesco card is valid for the full time or only from the first XXX days of taking the offer.
  • You can transfer about 90-95% of your credit limit.
    Are you living so without your means that you need to spend on a cc?
    Are you then in a position to pay it off when your 0% offer ends?
  • The Tesco is 0% until July 2020
    I have the money to pay it off in a savings account offsetting my mortgage so want to avoid paying it off until then
  • In that case you are probably best phoning Tesco to check out the fine details of your card. Most are only0% for the first 60 days.
  • In that case you are probably best phoning Tesco to check out the fine details of your card. Most are only0% for the first 60 days.
    The OP's Tesco card has 0% on purchases. It's extremely rare for these to have 'first x days' restrictions.
  • MallyGirl
    MallyGirl Posts: 7,092 Senior Ambassador
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    It is rare but there certainly was one not that long ago that caught someone out - I think it might have been MBNA though.
    As long as the 0% on purchases deal is still active then you can do what you want - just make sure you pay in full before the deal end date which may well not exactly line up with a statement date.
    I’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.
  • MallyGirl wrote: »
    It is rare but there certainly was one not that long ago that caught someone out - I think it might have been MBNA though.


    Yes, the current MBNA offering is 27 months 0% but only on purchases made within the first 60 days.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 348.4K Banking & Borrowing
  • 252.1K Reduce Debt & Boost Income
  • 452.4K Spending & Discounts
  • 241K Work, Benefits & Business
  • 617.3K Mortgages, Homes & Bills
  • 175.7K Life & Family
  • 254.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.