Combining debt on 0%

simk6

Hey Guys,


Looking for some advice, currently have 3 credit cards that aren't on a promotional rate and also have a Paypal credit agreement, looking to move all these over to a 0% promotional rate, the only issue I have is I'm unsure how to transfer my Paypal credit as its an agreement opposed to a card so I am unable to input any card details onto the 0% card.

My question is can I combine all these debts onto one of the 3 by paying the full amount without a balance transfer including the Paypal credit then balance transfer that 1 card over to my 0% card without incurring tuns of fees?

Cheers!

grumbler

simk6 said:

 the only issue I have is I'm unsure how to transfer my Paypal credit as its an agreement opposed to a card so I am unable to input any card details onto the 0% card.

>> 0% money transfer cards

My question is can I combine all these debts onto one of the 3 by paying the full amount without a balance transfer including the Paypal credit then balance transfer that 1 card over to my 0% card without incurring tuns of fees?

I don't understand what you want to achieve by 'combining' first and how you can do this "without a balance transfer".

And beware that the more debt you have, including on CCs, the more difficult it is to get a new card, especially 0%, with a limit big enough to accommodate the existing balances.

simk6

grumbler said:

simk6 said:

 the only issue I have is I'm unsure how to transfer my Paypal credit as its an agreement opposed to a card so I am unable to input any card details onto the 0% card.

>> 0% money transfer cards

My question is can I combine all these debts onto one of the 3 by paying the full amount without a balance transfer including the Paypal credit then balance transfer that 1 card over to my 0% card without incurring tuns of fees?

I don't understand what you want to achieve by 'combining' first and how you can do this "without a balance transfer".

And beware that the more debt you have, including on CCs, the more difficult it is to get a new card, especially 0%, with a limit big enough to accommodate the existing balances.

Thanks for the reply & feedback, forget what I had said prior I was talking Ludacris and somehow in the moment forgot you couldn't directly use credit to pay credit. I have already been pre-approved for a 34-month 0% balance transfer card, which doesn't include money transfers, unfortunately.

I already have a card that has the ability to money transfer, it incurs a 5% transfer fee but that money is at a higher percentage rate of 11.87% p.a as opposed to a purchase rate of 9.99% p.a. If I were to use this to pay the Paypal balance, pay the 5% transfer fee then balance transfer the total balance to my new 0% card before my next statement would I then dodge the interest for the month? 

Apologies again if that sounds confusing.

K

grumbler

simk6 said:

grumbler said:

simk6 said:

 the only issue I have is I'm unsure how to transfer my Paypal credit as its an agreement opposed to a card so I am unable to input any card details onto the 0% card.

>> 0% money transfer cards

My question is can I combine all these debts onto one of the 3 by paying the full amount without a balance transfer including the Paypal credit then balance transfer that 1 card over to my 0% card without incurring tuns of fees?

I don't understand what you want to achieve by 'combining' first and how you can do this "without a balance transfer".

And beware that the more debt you have, including on CCs, the more difficult it is to get a new card, especially 0%, with a limit big enough to accommodate the existing balances.

I already have a card that has the ability to money transfer, it incurs a 5% transfer fee

5%?! Even ATM (cash advance) fee is usually smaller. And nothing stops you from withdrawing cash from any of your cards to pay PayPal.

but that money is at a higher percentage rate of 11.87% p.a as opposed to a purchase rate of 9.99% p.a. If I were to use this to pay the Paypal balance, pay the 5% transfer fee then balance transfer the total balance to my new 0% card before my next statement would I then dodge the interest for the month? 

Apologies again if that sounds confusing.

K

You'll pay the interest for the days between the money transfer or a cash advance and the actual day of balance transfer to 0%.