getting a new one
av9201144
Forumite 6 Posts
in Credit cards
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
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
0
Latest MSE News and Guides
Replies
A BT will be the cheapest route, with the lowest fee. Then money transfer. Worst of all is withdrawing cash.
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.