Transferring debt when 0% credit card period ends

mwddrwg

Hi everyone

Bit of background first, will keep it brief

I used to have quite large balances on two cards (Barclaycard and Tesco) and was paying minimum payments on both. Got fed up with this and transferred each balance to a Virgin Card at 0% for 21 months and a Halifax card at 0% for the same period. Paying £100 per month on both at the moment so they're coming down nicely.

Question I have is what are the chances of my old cards (which are still open) accepting whatever I have left to pay once the 0% periods end on my balance transfer cards. Has anyone done this before? Not closing the cleared cards just in case I can do this.

Thanks in advance

BoGoF

Do you mean offer you 0% ?(otherwise there is little point in transferring back)

Barclaycard, and to a lesser extent Tesco, are pretty good at offering 0% offers to existing customers. Check your Barclaycard app to see if anything available but no guarantee is available when you need it.

Would add that you can't keep on kicking the can down the road indefinitely and the debt is going to need cleared at some point, preferably before hefty interest kicks in.

mwddrwg

Thanks for your advice.
I was thinking of ringing them up closer to the 0% expiry date on my current cards to ask if they'll take on the remaining balance at 0% if there's no offers on the app. Any chance do you think? Should be down to about £1500 on both cards at that point and both my Tesco and BCard limits are £7K+

BoGoF

If they are not already offering you 0% on the app or by post I see little chance of a phone call being successful, but nothing ventured nothing gained.

yksi

If they don't offer, and you can't see any 0% offers from others when there's three months left, consider closing the unused cards asap in order to lower your available credit. Lenders will be looking at your total available credit across all four cards even if you aren't using two of them, and might well decide that you can't afford any more (the sheer number of people who get stung at the end of 0% agreements as they are unable to shift the debt around is frightening).