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Balance tranfers

Hi
I want to do a balance transfer to clear my existing credit card. I also have credit with very.co.uk. can I transfer the debt with very to a credit card when doing the balance transfer  ???
Thanks

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,383 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    No, but you can do it via either money transfer or a purchase.
  • TDeleted_User said:
    No, but you can do it via either money transfer or a purchase.
  • Thanks. Do u mean withdraw money with the credit card and pay off the very debt ?
  • MallyGirl
    MallyGirl Posts: 7,479 Senior Ambassador
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    No - never withdraw money on a credit card.
    3 options with a credit card depending on what 0% offers you have
    You can balance transfer a debt from one credit card to another - but Very is not a credit card so this won't work.
    You can make purchases on a credit card - if paying very counts as a purchase, and it may well not do, then you get the Very balance on to your credit card that way.
    You can do a money transfer which puts money into your current account (there will be a fee) and you use the money in the bank account to pay Very.
    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.
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