We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Balance transfer

Options
Hi,

if I do a 0% credit card balance transfer, and the offer is for say 20 months, but the purchase offer is only for 6 months, so after 6 months if I purchase something the interest is only applied to the purchase, not the whole balance? 

I realise the point of the balance transfer is to have no interest so make it a easier to clear the debt, the thing I’m not sure about is if I don’t make a purchase during the 20 months, can they close your account for inactivity? Ideally you wouldn’t want to make any purchases and have to pay interest, but you also wouldn’t want the account closed for inactivity. 


Comments

  • CliveOfIndia
    CliveOfIndia Posts: 2,491 Forumite
    1,000 Posts Second Anniversary Name Dropper


    if I do a 0% credit card balance transfer, and the offer is for say 20 months, but the purchase offer is only for 6 months, so after 6 months if I purchase something the interest is only applied to the purchase, not the whole balance?


    Correct.
    But do check the T&Cs of the card carefully.  Some cards will "separate" the purchase and the BT, meaning you just need to clear the purchases each month.  But some will require you to clear the whole balance (including the remaining BT amount).  So unless it's explicitly stated that purchases will be treated separately, it's best not to use a BT card for purchases at all.
    if I don’t make a purchase during the 20 months, can they close your account for inactivity? Ideally you wouldn’t want to make any purchases and have to pay interest, but you also wouldn’t want the account closed for inactivity. 


    It won't get closed due to inactivity, because there'll still be a balance on it and you'll be making payments every month.  It's only after a period of complete inactivity (no purchases, no remaining balance, no payments) that it will get closed due to inactivity.


Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.8K Banking & Borrowing
  • 253K Reduce Debt & Boost Income
  • 453.4K Spending & Discounts
  • 243.7K Work, Benefits & Business
  • 598.5K Mortgages, Homes & Bills
  • 176.8K Life & Family
  • 257K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.