Balance Tx or Purchase Card? Latest MSE email has confused me!

gazwroe

Hello Forum!
This may be a silly question but I am confused. 

By coincidence I am looking to transfer a balance from a CC which has a 0% ending soon and this was subject of this weeks MSE email. 

Perfect! However, on reading the message and the website, I am struggling now to understand if I want a balance transfer card or a purchase card? 

To be clear, I also use this card for purchases to have Section 75 protection but I cannot seem to find details about Purchase cards having a balance transfer option/fee? 

Am I mad or is this just not possible or am I missing something??
I need a card I can buy on reasonably often but I want to tx a balance first. 

I’m currently on a HSBC card so can’t use another HSBC or M&S. 
Thanks all.

eskbanker

https://www.moneysavingexpert.com/credit-cards/0-balance-transfers-spending/ has cards that offer 0% on both balance transfers and subsequent purchases so they'd fit the bill if you can get one, otherwise you'd be better with two cards, one for the BT and another for the spend.... 

MallyGirl

It is usually a better plan to keep BT and spending on separate cards. You only get 'up to 56 days' interest free on purchases (from transaction date to payment date) if you pay the balance in full. You won't be paying in full if you are carrying a 0% BT debt on there. There is one provider that has different rules but I can't remember which. Even if there is both 0% on purchases and 0% on BT the deals are often not for the same period. It gets messy.

gazwroe

Ok, thank you both. I am also looking at a remortgage soon so trying not to hammer my credit checks with multiple cards. 

Will look at two cards. 

Thanks

SuperAllyB

gazwroe said:

Ok, thank you both. I am also looking at a remortgage soon so trying not to hammer my credit checks with multiple cards. 

Will look at two cards. 

Thanks

If you balance transfer to a new card, why not.just keep using your current card for purchases? No need for two new ones.

eskbanker

gazwroe said:

I am also looking at a remortgage soon so trying not to hammer my credit checks with multiple cards.

If you're carrying a long-standing balance then that may have more of an impact on your credit status than an application or two, especially if you find that current market conditions mean that you struggle to find a 0% BT card that can accommodate that balance....

Publius

Purchase cards are not for transferring, they're more for if you expect to be making large new purchases using the card. The advantage is there are no fees.

Eg, Buying a car, cosmetic surgery, new pc.

I've just got one from Virgin Money - 15 months at 0% - just have to pay at least the minimum each month as per any credit card.

I set my monthly debit to pay off 1/15th of the balance each month so at the end of the 0% term i'll have paid it off.

gazwroe

SuperAllyB said:

gazwroe said:

Ok, thank you both. I am also looking at a remortgage soon so trying not to hammer my credit checks with multiple cards. 

Will look at two cards. 

Thanks

If you balance transfer to a new card, why not.just keep using your current card for purchases? No need for two new ones.

This is an interesting thought. Surely though the old card I have will revert to a high APR on purchases? Or is it only if the balance isn’t paid (which it would be)? I need to check the T and C on the HSBC card.

[Deleted User]

You should be clearing your purchases in full each month, so you're not paying interest.

If you're planning on running up another balance, then you'll want a 0% purchases card.

gazwroe

Deleted_User said:

You should be clearing your purchases in full each month, so you're not paying interest.

If you're planning on running up another balance, then you'll want a 0% purchases card.

Absolutely. I don’t plan to run up any balance, it’s just to have a card for over £100 purchases that I will then pay off. It’s just a matter of whether the current HSBC card allows purchases at 0%.

[Deleted User]

It doesn't matter if it does or not.

You just need to clear it in full each month and the interest is waived.