Which balance transfer card is best for daughter

cinders59

My daughter is looking to do a balance transfer from her creidt card
The total is under £900.

I have looked at the information and all either do a fee every month or a percentage of the transfer.

Can anyone advise which is the best I looked at Tesco bank and they charge 1.49%

Is there one that does no fee?

Also do they close down the old card?

Thanks

foxy-stoat

Close the old card down yes.

No fee BT's normally have a low interest rate, so its that or low fees and 0% interest.

What is the current interest that she pays?

cinders59

foxy-stoat wrote: »

Close the old card down yes.

No fee BT's normally have a low interest rate, so its that or low fees and 0% interest.

What is the current interest that she pays?

she hasnt told me but guessing it is 19.9%
She was hoping to keep her old card as she has Amazon Prime taken out every month

Carrot007

cinders59 wrote: »

She was hoping to keep her old card as she has Amazon Prime taken out every month

Because of course changing a card on amazon is impossible?


And if it is on credit cards anyway why is it not being paid annually at a massive saving?

cinders59

Carrot007 wrote: »

Because of course changing a card on amazon is impossible?


And if it is on credit cards anyway why is it not being paid annually at a massive saving?

I dont know, she just pays the monthly fee

2e0arr

teach your daughter to be financially independant and savvy.
tell her to research herself and give you advice.

foxy-stoat

cinders59 wrote: »

she hasnt told me but guessing it is 19.9%
She was hoping to keep her old card as she has Amazon Prime taken out every month

Ok, how has she gotten £900 into debt that she now wants to transfer to a lower interest card?

This is how it starts....if she cannot clear a £900 balance then what would she do with a £9,000 balance - or £30,000 balance.

She can pay the Amazon Prime from her bank account and cancel the old credit card.

LuSiVe

Balance transferring does *not* close the old card down automatically.

cinders59

2e0arr wrote: »

teach your daughter to be financially independant and savvy.
tell her to research herself and give you advice.

I know I have tried.
I am the kind of person who moves her ISA every year for a better deal, gets a monthly payment into my bank for loyalty. etc

But she says being a single parent and working she hasnt the time to do it unfortunately

2e0arr

cinders59 wrote: »

I know I have tried.
I am the kind of person who moves her ISA every year for a better deal, gets a monthly payment into my bank for loyalty. etc

But she says being a single parent and working she hasnt the time to do it unfortunately

are you serious ?

cinders59

2e0arr wrote: »

are you serious ?

Yes that is right