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Balance transfer

Hi, proberly a silly question but my credit cards 0% is about to run out and looking to transfer my balance. I can get £1800 credit on a new card but my balance is just over £2100. Can I transfer the £1800 and leave the £300+ on my old card, or does it have to be the whole amount? Thanks in advance.

Comments

  • You can transfer whatever you like, subject to the usual £100 minimum.
  • You can transfer any amount you want, up to usually 95% of the limit on new card.
  • born_again
    born_again Posts: 23,535 Forumite
    10,000 Posts Sixth Anniversary Name Dropper
    loobee wrote: »
    H Can I transfer the £1800 and leave the £300+ on my old card, or does it have to be the whole amount? Thanks in advance.

    Don't forget you have not factored in the Fee for the balance transfer.
    Life in the slow lane
  • Westie983
    Westie983 Posts: 5,215 Forumite
    Tenth Anniversary 1,000 Posts I've been Money Tipped! Name Dropper
    Hi,

    Dependant on the credit card you can only transfer 90 - 95% of the credit limit and have to factor in the fee for the transfer so you won't be able to transfer the whole amount anyway, but you can leave the remaining on the card and focus on paying that off first as it will be interest baring if the 0% is due to expire.

    Westie983
    I’m a Forum Ambassador and I support the Forum Team on the Banking & Borrowing, and Reduce Debt & Boost Income 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 MoneySaving Expert.
    Save 12k in 2023 #58 Total (£4500.00) £2500.00/£5000 = 50.00%
    Sealed Pot Challenge ~17 #24 Total (£55.00) £0.00/£500 = 0.00%
    Xmas 2023 £1 a Day #13 Total (£85.00) £344.00/£365 = 94.24%
    Virtual Sealed Pot #1 Total (£500) £550.00/£500 = 110.00%
    £2 Savers Club 2023 #17 Total (£25.00) £45/£300 = 15.00%
    The 365 1p Challenge 2023 #7 Total £656.19/£667.95 = 98.23%
    Total £4095.19/£7332.95 = 55.84%
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