Clearing my Next account balance

Peppermintaero73

Could someone please advise the best way to transfer my online Next account balance to a new credit card? I just want to transfer the balance to a 0% credit card and pay it off but it seems I have to pay the Next balance off 1st with another credit card then transfer that balance to my new 0% Virgin credit card? Can I not just transfer the store balance directly onto my new Virgin cc or will that be treated as a purchase ? Any advice greatly welcomed ! 

Brie

I expect it is because the Next account is a credit agreement similar to a loan or overdraft rather than a credit card.  So if you only have a 0% balance transfer offer with Virgin then it will only work if you BT to another card.  So yes to use it to pay off your Next balance would be treated like a purchase.  And you don't want to do both purchases and BTs on the same card generally as you'll end up paying tons of interest.  

Check if the Virgin card also offers a good length Money Transfer at 0%.  That way you could pay off the Next account from your bank and then do a MT to your bank instead of a BT to another card.

magpies79

I kinda had the same problem with a very account I was able to pay the balance With a credit card think it was my 118 card then I transferred that to my 0% card do you not have another credit card?

I think and don't take it as gospel but I'm sure I've seen people say on here if you do have another credit card any bills that you could pay by credit card that you'd normally say pay cash or direct debit do that then use the cash to pay the next account off then transfer the bills you've paid off the credit card to your 0% 

Peppermintaero73

Just checked and on my new Virgin cc that arrived this morning, it is 0.00%pa for 9 months on Money Transfers so that might have to be the way forward, I was just hoping to transfer the Next balance onto a 0% credit card but it doesn't seem to be as easy as I thought - thank you for your advice. 

magpies79

Are you going to be able to clear the balance in 9 months make sure you look at the numbers ie what the rate is on the next account and what it will be at the end of the 0% deal you'd think virgin be cheaper remember my next apr wasn't great.

how long would the balance transfer be for? 

Peppermintaero73

I don't have another credit card to pay the Next balance off with. And yes I was hoping to clear the balance in 9 months if not I would have applied for another 0% credit card and transferred what balance I had left to pay. The interest on Next is shocking hence why I wanted to clear it ! 

grumpy_codger

You should have done some research and applied for a card offering 0% on purchases, not BTs.