Noob question on balance transfer cards

fabiofelizzi

Hello all, 

I'm just curious. I have a PayPal credit account and a natwest credit card, both of which I have been working hard on reducing my credit usage on (should be below 75% on each this month).

Is it possible to get a new balance transfer card (with 0% interest for X months) and transfer both of the aforementioned balances to?

I'm not sure if I fully understand how they work but it seems like I could avoid paying a good chunk of interest if this is possible. 

Many thanks and merry Christmas 😁

DullGreyGuy

You can certainly Balance Transfer the NW card

Havent ever used PayPal Credit but assume it's not actually a CC in disguise. Assuming it isn't then no, a BT can only be to another credit card but you could get a Money Transfer card which allows you to put cash into your bank account which you can then use to pay off the PayPal.

Some cards have both BT and MT offers but traditionally at least getting a MT was tougher than a BT. They sometimes have higher costs and/or shorter periods.  

th081

75% utilisation is very high, a new credit card might be reluctant to take you on as a customer as you seem to be unable to manage the credit you have.