balance transfer

homertkd

i have a Thinkmoney credit card. i have just done a balance transfer over to the card at 0% 6 months.
i have been told by a friend that it i use the thinkmoney card now i will have to pay interest on any purchase straight away 
and i could start paying interest on the balance transfer as well.
is there any truth in this.
paul

[Deleted User]

If you use it for purchases, you'll pay interest on them unless you clear the full balance, including the BT.

You won't pay interest on the BT unless you breach your terms.

homertkd

feel better now. thanks

maxximus75

It's usually best not to mix BT and purchases on the same card.

homertkd

i have £3.000  credit on thinkmoney card and i have done  £1.000 BT to it.
just someone told me that if i used the thinkmoney card that i will have to start paying interest on the BT

MallyGirl

That won't be the case. You will just pay interest from the transaction date on any purchases you make as the 'up to 56 days interest free' aspect of shopping on a cc relies on you paying off in full by the due date on the statement which you obviously won't do because of the BT. Best not to mix BT offers with normal spending.

homertkd

if i pay the card in and leave the BT on will i still pay interest on that

homertkd

all ok now.
thank you