0% CC Tart Question

JAM1376

Hi all

First time post on this board, hope it is in the right place.

Hopefully just a quick question, we (me and my OH) currently have 6 cards on 0%. The first two are up on their timescale in Feb and March and I would like to transfer these two to just one new one (debt is reducing :j ). My question is, as one of these cards is Barcley card and the other is HSBC, which bank will allow transfers from these cards. Is Virgin a completely seperate bank (I know it is MBNA but is this different to the others?)?

I already have Tesco, RBS and {can't remember the other one -edit: Natwest, just remembered}. The idea is for OH to apply for the new one as he only has the one RBS card.

Does this make sense? Who can I transfer both a Barclycard and HBSC balance to? Virgin??

Thank you!!

tesuhoha

When you apply for a new 0% card on the application they usually ask you if you want to do a balance transfer. You would then enter the details of the two cards you have. It depends very much on the credit they allow you as to whether you can transfer both but technically it will be okay to do two BTs.

JAM1376

Thanks for the fast answer. The bit that I am concerned about is which cards are owned by which banks as I cannot transfer from, for example, an RBS card to a new RBS card. Is Virgin owned by someone completely different to both Barcleycard and HSBC?

GeorgeUK

This should keep you right.

http://www.stoozing.com/cards.htm

JAM1376

Fantastic, this is just what I was looking for but coulnd't find the info all together like this.

THANK YOU!!!!!

rfallows

Be warned, if you make purchases on the card you transfer the balance to, after a few months (3 with Tesco) your payments may be used to pay off the balance transfer, not the purchases and you pay interest on the purchases. The only way to pay off the purchases then is to clear the whole balance.

tsharp

rfallows wrote: »

Be warned, if you make purchases on the card you transfer the balance to, after a few months (3 with Tesco) your payments may be used to pay off the balance transfer, not the purchases and you pay interest on the purchases. The only way to pay off the purchases then is to clear the whole balance.

I found this out the hard way when i put a £108 purchase on a £2k 0% debt, now i am being charged about £1.20ish every month, because the purchase is sitting behind the BT.

Also, some cards cancel the 0% period if you default on a payment. They are always looking at ways of getting you!!!