Balance transfer advice

SalarySlave

Hi Guys

I have never done one of these and maybe I am doing something stupid, so please criticise.
I have just bought a house and I am in the process of refurbishing and moving in. I expect a lot of spending in the next few months.

I have 3 CC
Tandem Limit £4000 had this for 1 Year
NW Select limit £6750 had this for 4 Years
Halifax Clarity limit £12000 had this for 4 Years

The halifax seems to offer fee free money transfer but interest then on the balance. I want to take out a fee free balance transfer, then move as much as I can to it from the halifax, allowing me to have some cash interest free for 20 months (Sainsbury fee free 20 month 0% BT card)

I am worried that the change of address will affect my ability to get the card, and the fact that I have just taken on a mortgage. I have applied to move my name from my old address to my new address but I believe this could take a while.

BTW I have the money available to pay for all this upcoming spending but I though it would be better to earn some interest whilst enjoying a interest free loan.

How long should I wait after completing on my house before I apply for the card?
Also, any idea how much the limit would be?
I earn £70k a year.

Thanks

[Deleted User]

The limit will be decided at the time of acceptance. Somewhere between £500 and £20k is most likely.

Apply now and if declined, leave it a couple of months.

What balances do you currently have? Remember that a balance transfer card is for transferring balances, not for gaining cash.

A purchases card may suit you better.

SalarySlave

I have always cleared my cards by direct debit. I have a total outstanding balance ok roughly 1K at the moment which will be cleared by the direct debit.

One of the main purchases I want to make is a car. I expect they will not take a credit card, and so cash will be required.

[Deleted User]

In that case, a money transfer is the right option.

Ben8282

Your idea sounds fine but apply for the Sainsburys card first to establish what credit limit you will get.
When you receive the Sainsburys card, do the money transfer from the Halifax card to your current account and then when this has all gone through immediately arrange the balance transfer from the Sainsburys card to the Halifax card to repay the money transfer as quickly as you can to minimise interest.
One thought that I had is that this if you shop at Sainsburys and collect Nectar points this is a bit of a waster of a Sainsubrys card as obviously you will not be using the card for purchases from Sainsburys as you would pay interest on such purchases due to the balance transfer, the 0% purchases offer on this card being only for 3 months. If you don't shop at Sainsburys or collect Nectar points then obviously not applicable.