Transfer Time Period

tomxlisa

Thinking of getting a capital one balance transfer card, I’ve been offered 0% on balance transfers for 6 months, does the 0% deal start as soon as you get the card or when you make the transfer, do you have a specific time period to start the transfer once you receive the card?. 

DullGreyGuy

6 months starts from once the account is opened but you often also have a transfer window too so may only be able to transfer in the first 3 months.

Nasqueron

And remember it's 6 months period, so if you transferred in the 5th month + 28 days, you would only get 2-3 days free before it's done. The ideal would be to do the transfer request when you apply (as most allow you to do) to maximise the interest free bit.

tomxlisa

Yeah I don’t need it yet as my current deal on my other card doesn’t run out until august so wondered if I could get the other card now and just use it then for the extra 6 months or would I have to get it as close to the end of my current period finishing, I guess that’s been answered now, thanks. 

Nasqueron

tomxlisa said:

Yeah I don’t need it yet as my current deal on my other card doesn’t run out until august so wondered if I could get the other card now and just use it then for the extra 6 months or would I have to get it as close to the end of my current period finishing, I guess that’s been answered now, thanks. 

I wouldn't assume you are going to get it, given your post is suggesting you have a BT which you can't pay off in time and are looking to get a sub-prime card to extend for 6 months, I would plan for what happens if you don't get another card

tomxlisa

I can pay it off if needs be just be a luxury if I’ve got an extra 6 months is all. 🙂

Nasqueron

All I'd add then is why go for a sub prime card?

NatWest have a 13 month £0 fee offer, Barclays have a 12 month one while Virgin have a 20 month one with 2% fee (lowest on MSE) or for those with bad credit, a 16 month one with 3% fee (same as cap one) and you don't need to run it for the whole term - even Fluid do 9 months with the same 3% fee as Cap One.

tomxlisa

I’m still on the whole recovering and trying to get a great credit history so that’s the reason for the sub prime card otherwise I’d obviously be going for better cards and deals. 

Nasqueron

tomxlisa said:

I’m still on the whole recovering and trying to get a great credit history so that’s the reason for the sub prime card otherwise I’d obviously be going for better cards and deals. 

In which case, personally I'd try the "lesser" Virgin or Fluid one, might as well do it now and worst case if they say no, apply for another in 3-4 months time which shouldn't be a problem in terms of hard checks and your finances would be better too

tomxlisa

I did try the virgin eligibility checker and they said no and the fluid card said no as I’ve not long opened an aqua credit card account and you have to wait 12 months if so.