When to clear/shift balance

cdbe11

New to this, interest free period ends 6 Mar 2026 - when should I apply for another card if I want to shift the debt? Or if I want to clear the balance is it just a case of making a payment a few days before 6 Match?

Thanks 

Altior

Essentially it's a game of chicken. 

Obviously you'll want to clear the balance before it attracts interest, but on the other hand, you want to max out the deal.

There's no right or wrong answer (as long as it's before the current promo has ended), it will depend on your credit record and the market at the time. 

Do you have the means to clear the liability if needed?

cdbe11

Thanks, yes I can clear it so I think I'll diarise for a month before and see what's around etc. But I can't quite work whether it's better to clear it and get another 0% spending one or pay the BT fee - suppose it depends how quick you can get the new one spent up. 

Altior

cdbe11 said:

Thanks, yes I can clear it so I think I'll diarise for a month before and see what's around etc. But I can't quite work whether it's better to clear it and get another 0% spending one or pay the BT fee - suppose it depends how quick you can get the new one spent up. 

Ideally you want to get a 0% BT card and another 0% purchases card. Depending on the fee for the BT card, duration of deal, and minimum payment percentage. With stoozing, as things progress, you'll tend to build up credit card accounts and get BT (and MT) offers on existing accounts. Then it's quite rare not to have an offer available on any of them at a particular point in time. Periodically running eligibility checks to identify if you have any access to any good new deals on the market.

Nasqueron

I would look for a longer rate card e.g. a 33 month one and apply 3 months before, so you have the option of a second search closer to the time if needed. Another 30 months of 0% is no bad thing and reduces the risk of having to pay it off and multiple hard searches together. By the time you get to the 30 month end (allowing for the 3 months, and ensuring you don't miss the deadline for transfers), you will have paid some down and can plan for another card. Not the optimal solution but a conservative approach

GoodDealSearcher

Please can anyone clarify what happens at the end of the interest free period (on my purchase 0% card).  The 21 months interest free period ends on 5th Nov, and I've built up quite a balance.  I've arranged to clear the full balance on 31st Oct on the last statement in the 0% period.  But could I actually have waited until end of Nov payment date from 5th Nov statement without paying interest, and left the money in my savings account for another month?  Every little helps!

CliveOfIndia

GoodDealSearcher said:

But could I actually have waited until end of Nov payment date from 5th Nov statement without paying interest, and left the money in my savings account for another month?

No - any remaining balance would start to accrue interest from 6th November.  So if you left it until the end of November to pay it off, you'd be charged 24 days of interest.  You need to have cleared the balance by 5th Nov.  You could pay the minimum on 31st Oct, then make a manual payment on 5th Nov for the remainder - but 5 days of "lost" 0% duration is really neither here nor there, so you've really done the right thing.

This is always something to be careful of - very often, the end of a promotional rate won't coincide nicely with your statement dates, so it's always wise to keep a careful eye on it.

GoodDealSearcher

Thank you.  All paid off.