Transferring Zable to barclaycard

paddyposh

Hi. I just got a new Barclaycard transfer balances from Zable and Vanquis. I’ve done the Vanquis one but the person on the phone said they do not accept transfer from Zable 

that was the main reason really as the interest is so high. 

Is there any way around this? Or just need to focus on making larger payments 

I noticed Barclaycard do a money transfer to a debit card at 0%. Would that be a good option? Then use that to make a payment on my Zable card to get it down to zero

WillPS

Money transfer is the only direct-ish option. It's a good reason to avoid Zable.

grumpy_codger

paddyposh said:

Hi. I just got a new Barclaycard transfer balances from Zable and Vanquis. I’ve done the Vanquis one but the person on the phone said they do not accept transfer from Zable 

that was the main reason really as the interest is so high. 

Is there any way around this? Or just need to focus on making larger payments 

I noticed Barclaycard do a money transfer to a debit card at 0%. Would that be a good option? Then use that to make a payment on my Zable card to get it down to zero

What exactly Barclaycard and on what terms? This can be a good option depending on the T&C.

Alternatively, you can use cash from Vanquis and then transfer the balance from Vanquis to Barclaycard - https://www.vanquis.co.uk/existing-customers/credit-card-help/cash-transactions#anchor3 

Do your maths to chose the cheapest option.

And don't forget to get rid of both Zable and Vanquis after transferring the balances.

Nasqueron

Money Transfer to the account and pay off Zable is the best way yes

Otherwise, pay the absolute minimum on the balance on the Vanquis balance transfer and use all the money you were paying on that on the Zable balance

callum9999

I don't know why people are giving multiple options? As WillPS suggested, the ONLY logical decision is to do a money transfer from the Barclaycard to your current account and then using it to pay Zable.

Why withdrawing cash on the Vanquis card, or leaving the high interest balance on the Zable card and paying it off "as fast as you can" are even being suggested (especially as they don't seem incredibly financially literate so may get easily confused) is beyond me! 

paddyposh

Thanks all. Yes I think money transfer is the best option from what I can see. 

I’ve done the BT from Vanquis already; waiting for it to complete. Side question, should I leave it sitting there and not use it? Or best to close it down once the BT completes and I have the final statement? Just in terms of credit report wise

grumpy_codger

callum9999 said:

I don't know why people are giving multiple options? As WillPS suggested, the ONLY logical decision is to do a money transfer from the Barclaycard to your current account and then using it to pay Zable.

Why withdrawing cash on the Vanquis card, or leaving the high interest balance on the Zable card and paying it off "as fast as you can" are even being suggested (especially as they don't seem incredibly financially literate so may get easily confused) is beyond me! 

Do you mean me?
- Because I don't know what "a money transfer to a debit card at 0%" actually means and cannot check because I don't know what exactly Barclaycard it is. 
0% fee?
0% interest? How many months?

paddyposh

It just says an interest free transfer to bank account

Nasqueron

callum9999 said:

I don't know why people are giving multiple options? As WillPS suggested, the ONLY logical decision is to do a money transfer from the Barclaycard to your current account and then using it to pay Zable.

Why withdrawing cash on the Vanquis card, or leaving the high interest balance on the Zable card and paying it off "as fast as you can" are even being suggested (especially as they don't seem incredibly financially literate so may get easily confused) is beyond me! 

Because OP has not said the credit limit they got, how much they BT off Vanquis and how much space they have left? 

£2000 limit for example, transfers £1800 + fee leaves maybe £50 to MT off hence covering the options for the OP

magpies79

I had the exact same problem what I did was for a month use a credit card I knew could transfer off so say your Vanquis card and used that to pay anything I could with credit card that I normally could with my current account then used the cash to pay off Zable well as much as I could then transfer off the vanquis.

paddyposh

Nasqueron said:

callum9999 said:

I don't know why people are giving multiple options? As WillPS suggested, the ONLY logical decision is to do a money transfer from the Barclaycard to your current account and then using it to pay Zable.

Why withdrawing cash on the Vanquis card, or leaving the high interest balance on the Zable card and paying it off "as fast as you can" are even being suggested (especially as they don't seem incredibly financially literate so may get easily confused) is beyond me! 

Because OP has not said the credit limit they got, how much they BT off Vanquis and how much space they have left? 

£2000 limit for example, transfers £1800 + fee leaves maybe £50 to MT off hence covering the options for the OP

My Vanquis BT was £1,000. I still have a lot of limit left over, way more than my zable balance is.