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Balance transfers
jonnyb1978
Posts: 1,363 Forumite
in Credit cards
At the minute i have 3 cards in use and 1 i have just recieved.
1. Halifax with regular interest
2. Egg with interest free
3. Capital One with regular interest but keep offering me to transfer a balance at 0%
4. BOS new card with 0%
The plan.
1. Transfer whats on my capital 1 card to my new BOS. Then transfer it back to take advantage of the interest free offer.
2. Transfer my halifax on my BOS taking advantage of their 0% interest offer.
3. Discarding the halifax card and closing account.
Therefore having 3 cards all at interest free.
I cant put them all on one card as my credit limit is not enough to facilitate that.
Also will this be ok to transfer from Capital One and back again. With all the transfer charges it will still work out better for as savings for my visa will be around £45-£55 alone a month
Does this sound ok.
1. Halifax with regular interest
2. Egg with interest free
3. Capital One with regular interest but keep offering me to transfer a balance at 0%
4. BOS new card with 0%
The plan.
1. Transfer whats on my capital 1 card to my new BOS. Then transfer it back to take advantage of the interest free offer.
2. Transfer my halifax on my BOS taking advantage of their 0% interest offer.
3. Discarding the halifax card and closing account.
Therefore having 3 cards all at interest free.
I cant put them all on one card as my credit limit is not enough to facilitate that.
Also will this be ok to transfer from Capital One and back again. With all the transfer charges it will still work out better for as savings for my visa will be around £45-£55 alone a month
Does this sound ok.
0
Comments
-
Nope - won't work
http://www.stoozing.com/cards.htm
You can't BT from a card to another with the same card provider.
Halifax and HBOS won't allow it.
Are capital1 offering you 0%?After falling off the gambling wagon (twice): £33,600 (24,000+ 9,600) - Original CC Debt: £7,885.91
Dad Gift 6k ¦ Savings & Inv Tst: £2,500
Loan 10k: £0 ¦ Dad 5.5k: £2,270 ¦ LTSB: £0 ¦ RBS: £0 ¦ Virgin £0 ¦ Egg £0
Total Owed: £2,270 (+6k) 11/08/20110 -
ok might be a bit long winded but i could transfer half of Halifax to Cap 1 and then from Cap 1 to BOS.
Then do the other half. Bit more in transfer fees but im sure it will still save money.
Yes Cap One are offering 0%0 -
Put it into the snowball calculator or here http://www.stoozing.com/btcalc.htm
Can you not transfer your Cap1 to BOS then Halifax to Cap1?After falling off the gambling wagon (twice): £33,600 (24,000+ 9,600) - Original CC Debt: £7,885.91
Dad Gift 6k ¦ Savings & Inv Tst: £2,500
Loan 10k: £0 ¦ Dad 5.5k: £2,270 ¦ LTSB: £0 ¦ RBS: £0 ¦ Virgin £0 ¦ Egg £0
Total Owed: £2,270 (+6k) 11/08/20110
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