Have 0% Balance Transfers dried up?

Da_Crojanz

Have gotten my CC debt from around £3.5k over the past couple of years, largely by taking on 0% balance transfer offers and switching to other 0% offers at the end of the free period.

Down to the final £1300 which is currently on an HBOS card. The 0% period ends in June and if I pay £125 a month back I'm due to pay it all off in December, with total interest of around £70 - £80 covering the final few months after the end of the 0% period.

I have a Barclaycard on £0 and wanted to do a 0% balance transfer in June but there are no offers at the minute. Are offers likely to come back within the next few months or are they less common in the current climate? When I take into account the initial fee I might only save £40 or thereabouts, so appreciate this isn't life and death.

Not keen on applying for another card when it's only a small amount I'd be saving.

[Deleted User]

Lending is less likely at the moment but at the same time, people with good credit still get them. A low (or £0 fee) card would be worth saving the interest on imho, up to you if you want to gamble on it or pay the interest. I got a card in December with a good limit with 0.49% fee for 18 months. The Barclaycard app is saying BT offers are not available the moment so I'd have to look on their site to see if they will give me one or not, have certainly used it as recently as January for a transfer. None of my transfers were paid off after the end of the deal though. 

northwalesd

I still have a 0% transfer offer on my Barclaycard, with a 1.9% transfer fee - on a £1300 transfer that's a fee of £24.70 - and that offer runs till Dec 2022. So yes, your calculation of the saving isn't far off, and as you say won't 'break the bank'. I think lending has been tightened up, but there are offers still out there. Re not taking out another card just to get that sort of saving, I'd probably be of the same mindset.

Conratulations on bringing down the debt too.

premierfella

2.4% fee for the same offer in my app -wonder what I've done to upset Barclays?! (at these sort of fee levels I'm not interested in any case).

Da_Crojanz

Thanks for the replies folks, much appreciated.
Seems it may still be possible with a bit of looking around but as I suspected, the amount of work needed may offset the savings made. I'll see what's available and make the call.
Thanks again

daivid

Have you checked your eligibility with Santander, currently offering 0% for 18 months with 0% fee and a £20 Amazon voucher. If you can get it then that more than covers you until you have paid in full and will effectively cost -£20.

Ibrahim5

Everyone has to spend money. Can't you just get a 0% purchase card and spend on that whilst you pay your current card off faster?

Superhoopza

Deleted_User said:

Lending is less likely at the moment but at the same time, people with good credit still get them. A low (or £0 fee) card would be worth saving the interest on imho, up to you if you want to gamble on it or pay the interest. I got a card in December with a good limit with 0.49% fee for 18 months. The Barclaycard app is saying BT offers are not available the moment so I'd have to look on their site to see if they will give me one or not, have certainly used it as recently as January for a transfer. None of my transfers were paid off after the end of the deal though. 

Yeah none available on my app either, how do you look online if there's any personal deals?

Thanks

Coveredinbees!!!!

I don't know if this will work for you but what I did was got a 0% spend card and spent on that then paid off the other card with the money I didn't spend ( if that makes sense). There seems to be more deals for spend cards than BT cards

keiran

As well as Santander, there's Natwest which is 0% with no handling fee for 18 months