Credit Card Advice

allansned7

Hello, in October I got a new credit card to transfer over a previous balance at 0%. I also thought the card was 0% on purchases. Stupidly I was wrong and made some purchases fairly expensive for Christmas. I’m wondering if it’s now best to open a new account with 0% balance and transfer this amount over. And close the previously mentioned account as I don’t want the interest payments. 

Cheers

Nasqueron

If you can get another card (applying twice in 2-3 months can be a risk for a limited credit history) then yes you can BT off - just be careful that the money is allocated to the purchases - it should be in theory as they would be interest carrying.

An alternative would be a money transfer card and use that into your bank to pay off the purchases then pay back the MT card at 0%

grumbler

allansned7 said:

Hello, in October I got a new credit card to transfer over a previous balance at 0%. I also thought the card was 0% on purchases. Stupidly I was wrong and made some purchases fairly expensive for Christmas. I’m wondering if it’s now best to open a new account with 0% balance and transfer this amount over. And close the previously mentioned account as I don’t want the interest payments. 

Depending on what card it is, it can be sufficient to pay of or transfer only the purchases balance.
E.g. for Barclaycard: