0% Credit Card for Balance Transfers

anotheruser

Just read the latest tip for this week.
It seems a Santander credit card is the one to choose for a 0% fee on balance transfers and 0% interest (I only need it for 12 months, probably less).
I went through the eligibility calculator but it said the chances of the Barclaycard at 0% + £30 cashback (I'd have to pay £27 for the transfer fee, which is about £3000 that I need moving) were ZERO percent.  I already have a credit card with them, so I guess this is the reason.

Just checking how I move the balance from one credit card to another.
Do I just call up and say I want to pay it off and give them the card number?  And Santander won't add any sort of fee?
Never done this before so just wondering how it works.

On a side note, I may be able to pay it off before my current 0% deal finishes in July but I'd prefer to give myself a touch longer if possible.

[Deleted User]

When you apply for a BT card you can request a balance transfer during the process of application, or you can do the transfer after once you have the card - it's normally a matter of just going into the app / website, entering the card number you want to pay off and how much you want to pay.

Do keep in mind that if you transfer after the monthly statement is made, they will often take the monthly payment as well so it's best to time the transfer to a day after the previous month is paid so the next statement for the sending card is either 0 or at least minimal.

If you get a 0% fee card then yes, they will just transfer without any cost to you.

redux

anotheruser said:

Just checking how I move the balance from one credit card to another.
Do I just call up and say I want to pay it off and give them the card number?  And Santander won't add any sort of fee?
Never done this before so just wondering how it works.

On a side note, I may be able to pay it off before my current 0% deal finishes in July but I'd prefer to give myself a touch longer if possible.

To clarify (I see a chance of some ambiguity in your words there), you contact the new card and ask them to do the transfer. If you try asking the old card to take payment, they might decline, or the new might count it as a cash advance not a transfer.

If you expect to be able some or most off by July anyway, you could delay the application a couple of months, or how about transferring a smaller amount, for instance transfer £2000, saving a bit of fee if there is one, and leave £1000 you definitely will clear on the old one.

Some card balance transfer offers are open for any time in the first 3 months. If so once you've got the new card you could wait a bit to do the actual transfer.

anotheruser

Although I don't understand the Sainsburys one: https://www.sainsburysbank.co.uk/credit-cards

It says 0% on balance transfers for up for X months, but then says a fee of 3% or 4% is added on application - does this mean I have to open the credit card, then call up and ask for a balance transfer once it's arrived?

I see - 0% INTEREST on the balance but there's a fee to transfer it.
Santander seems to be 95% happy to accept me so will just transfer the bulk of the balance to them for the 18 months and work out how much I have to pay off for 12-14 months.
Thanks!