getting a new one

in Credit cards
2 replies 132 views
av9201144av9201144 Forumite
6 Posts
Part of the Furniture Combo Breaker
hi folk
a bit naive when it comes to credit cards
I have offered what looks like a good deal from a well known company
I want the monies to pay a existing credit card debt whilst i
wait a short while for other funds to clear all
will I get charged by the new credit card company to pay the old credit card even though we are talking days
thank tom


  • MorningcoffeeIVMorningcoffeeIV Forumite
    587 Posts
    500 Posts Name Dropper
    How will you get these 'monies'?  What is the good deal you've been offered by this well known company>

    A BT will be the cheapest route, with the lowest fee. Then money transfer. Worst of all is withdrawing cash.
  • cymruchriscymruchris Forumite
    4K Posts
    Sixth Anniversary 1,000 Posts Name Dropper Photogenic
    Probably need more information.

    When you say offered - how was it offered? Did you go through an eligibility check? Or just receive something on an email or in the post inviting you to apply?

    What card was it? Did it come with a balance transfer offer?

    The existing debt - have you been paying interest on it?

    If so - you'll continue paying interest on it until the balance is transferred to another card.

    If the new card has a balance transfer offer - they are commonly 0 percent (but not always), you'll usually pay a fee to transfer the balance. Then if 0 percent, you won't pay interest on it for the duration of the promotional period. 

    An ex-bankrupt on a journey of recovery. Feel free to send me a DM reference credit building credit cards from the usual suspects :) Happy to help others going through what I've been through!
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