Best Balance Transfers Discussion Area

thenudeone

McFilly wrote: »

I was thinking of doing this too. Anyone else already doing it?

Nothing to stop you. just make sure that your account isn't put into credit due to a transfer

nazibuddaula

Thanks for thes post

thenudeone

Rustikle wrote: »

Ok, this may be a dumb question but here goes: I've been looking for a 0% balance transfer card and see the Barclaycard Platinum one (with cashback till Dec 31st and 0% purchases for 3 months) listed in this weeks moneytips email. Question I have is, how does what you repay work against what the type of debt is on this card?

I know the most expensive debt gets paid off first, so for this card does that mean any new spending as the interest free period is less than that of the balance transfer debt? Thanks guys.

Since both balances (purchases and BTs) are both at zero%, the card company is allowed to choose which will be repaid first, on any payments received in the first 3 months. There are several ways it could be done. The T&Cs should explain which is repaid first.
If you have a significant purchase balance you should wait til a day or two after the 3 months is up then pay that part of the balance off, to minimise your interest charge.

After the 3 months, there will be no interest free period on purchases if you have already made a balance transfer which you intend to leave on the card for some time. Purchases are only interest free if you pay the FULL statement balance off and did so for the previous month too.

Rustikle

Thanks to thenudeone for the reply.

I'm not planning on making a big purchase, just stuff I pay off in the month anyway so I could try getting some cashback. The BT I'm wanting to pay off over the longer term (£900 so it's not gonna be that long). I'll check out the T&Cs.

Fortune

Hi all advice needed

I am in the process of organising a trip to Florida and sorting out my Credit card. At the moment I have approx £1000 on a credit card. Which I could pay off with savings but I am looking at the best options with regard to balance transfers? We are planning to go to Florida at the end of December for 2 weeks so I guess we will be putting most of our spending on our credit card. Therefore would it be best to balance transfer to another card when we return when I assume our debt would be at its highest? (Can we go for one of the offers now and not balance transfer to when we get home or do we have to wait to we return in January?) I was considering paying off £500 to the credit card this month so we would have some cash for Florida. Hope this makes sense!! Advice welcome

ronap

Hi, my partner has decided to take advantage of the 22month 0% deal with Barclaycard to transfer a balance. The advertised fee is 2.9% but when he goes to make the application, the fee is shown as 3.2%. We can't find any 'small' print explaining this - can anyone explain?

gillwalton

hi,

Is it possible to transfer a balance from a card held in a name other than the principle card holder?.. ie someone other than me? I've read various terms and conditions but it doesn't seem to say.

Cheers

Gill

thenudeone

gillwalton wrote: »

Is it possible to transfer a balance from a card held in a name other than the principle card holder?.. ie someone other than me? I've read various terms and conditions but it doesn't seem to say.

Answer:
http://forums.moneysavingexpert.com/showpost.php?p=46003629&postcount=224

Calsa67

Looking for some information.

I have applied for a Halifax CC in order to pay for my car insurance. My partners interest free period is coming to an end - Bank of Scotland.

Would it be possible to transfer her remaining balance to my new CC despite them being the same bank?

dbmabz

Calsa67 wrote: »

Looking for some information.

I have applied for a Halifax CC in order to pay for my car insurance. My partners interest free period is coming to an end - Bank of Scotland.

Would it be possible to transfer her remaining balance to my new CC despite them being the same bank?

No, you will not be able to transfer the balance where the credit cards are both issued by the same card company.

You will need to find a credit card that is issued by a different card company. Use this link to easily find a different credit card from the one you have.