Money transfer

NadsVR

I have a credit card with my bank (which is totally paid off) but the APR is very high
Can I transfer this available credit to a new card with the same bank to obtain an offer of 0% APR?

eskbanker

There isn't a one-size-fits-all answer to questions about transferring credit limits between products with the same institution, so you'd need to ask them, but be prepared for them not to be so generous with limits on a 0% card as one charging interest....

[Deleted User]

You'll need to apply for a new card. The bank may then allow merging of limits, though it's not usual.

A better idea would be simply to apply for a new card with the most appropriate lender 

Ebe_Scrooge

As above, it's not standard practice to merge credit limits.

Can I ask why you actually want a credit card?  At the risk of sounding like I'm preaching, the APR shouldn't really matter (unless you can successfully obtain a 0% promotion).  You should never intentionally carry a balance on a credit card, you should be planning to always repay it in full every month.  Carrying a balance - especially long-term - is bad for your credit history and bad for your bank balance.  As I say, yes it's a different matter if there's a 0% promotion running.  But other than that, using a card "correctly" means that the APR is irrelevant.

NadsVR

If I had the money to hand I wouldn’t be asking about a credit card.
All my credit cards are paid off in full, but need some credit now to pay for something I need rather than want. 

Patronising advice is never appreciated.
But thanks anyway

Jami74

NadsVR said:

Patronising advice is never appreciated.

I don't think anyone meant to be patronising. Now you've explained that you you need credit now but need a bit of time to pay it off people can give you more appropriate advice.

Have you already sorted it now or would you still like some suggestions?

FreeFallerSaver

This rather helpful thread kicked off by @Se1Lad will give you an idea of what might be possible, but as others have indicated it's likely to be hit and miss, and certainly not guaranteed.

https://forums.moneysavingexpert.com/discussion/6303926/virgin-money-transfer-credit-limit-between-cards/p1

Se1Lad

Which Bank are you referring to? Virgin and MBNA offer this but it’s not guaranteed (and Halifax used to, but I have no recent experience of them).