Money Transfer Offer

Hello 

I have received an offer for money transfer from my credit card company. It is fee free and 5.2% interest pa.

I have a balance on the card currently paying standard apr interest approx 20% 

if I money transfer, theoretically I can pay the balance off the same card?

am I right ? Seems strange the card provider will offer a money transfer lower than the standard apr which I can pay it off. Or is there some catch with these things?

thanks 

Comments

  • Yes you can. 

    Not strange.

    No catch.
  • CliveOfIndia
    CliveOfIndia Posts: 1,348 Forumite
    First Anniversary First Post Name Dropper
    In theory there's no problem at all.
    The only caveat would be, is there room on your card to do this?
    For example, let's say you currently have a balance of £3000 on the card, and the credit limit is £5000.  You couldn't do a money transfer for £3000 because then you would have a balance of £6000 (albeit only temporarily).
    But aside from that, no problem.
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