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Credit Card need to apply for a new one but…

I’ve got 9k on a Barclay credit card (I pay way over the monthly minimum thing)
its 0% on purchases and 0% on something else (not really sure what)

it’s 0% deal comes to an end in March so I need to change over to another 0% card and transfer the 9k with me (no way of paying it off other than the £350 a month I already pay)

however i don’t understand the terminology when applying for the new card

do I need 0% Balance Transfer or 0% Spending - mse website only seems to offer me one or the other 

the Barclaycard was 0% for both and I don’t want to get the wrong card 

Comments

  • eskbanker
    eskbanker Posts: 35,277 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    If you have a balance and you want to transfer it to another card, then it's a balance transfer card that you need.

    There's no guarantee that you'd get another one with a high enough credit limit though, if you have existing debt and an inability to repay it, so at some point you'd need to find a way to repay debt rather than moving it, but if you can find a deal then that moment may be deferred for now....
  • CliveOfIndia
    CliveOfIndia Posts: 2,178 Forumite
    1,000 Posts Second Anniversary Name Dropper
    As above, you need to be looking for a Balance Transfer card.
    Rainycali said:

    do I need 0% Balance Transfer or 0% Spending - mse website only seems to offer me one or the other 

    the Barclaycard was 0% for both and I don’t want to get the wrong card 
    The majority of 0% deals are, as you say, either for a BT or for spending, not for both.  Yes, there are cards that offer both, but they are in the minority.  In any case, if you're unable to repay the current debt, it would be prudent to consider whether you ought to be putting any more spending on a credit card anyway.
    One other option to look at is a Money Transfer card.  However, for your purposes there's no advantage in a MT over a BT card, and you won't really stand more of a chance of being accepted for one over another.  It just depends on each individual lender's acceptance criteria.

  • Brie
    Brie Posts: 13,464 Ambassador
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    do remember that on applying for a new card the new provider has no guarantee that you will pay off the old card so they will want to know that you can afford twice as much debt, not just the £9k you have currently.
    I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe and Old Style Money Saving boards.  If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.

    "Never retract, never explain, never apologise; get things done and let them howl.”  Nellie McClung
  • grumpy_codger
    grumpy_codger Posts: 226 Forumite
    100 Posts Photogenic
    edited 16 January at 12:06PM
    Rainycali said:
    I’ve got 9k on a Barclay credit card (I pay way over the monthly minimum thing)
    its 0% on purchases and 0% on something else (not really sure what)

    It's worth  making sure and making only minimum payments, while putting the rest to a good savings account(s) and then to make a big lump sum payment when 0% ends if needed. If you save, say £8K gradually over a year you can earn up to about £250 interest. Every little helps.
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