Best Balance Transfers Discussion Area

[Deleted User]

There's some at 34 months at present.

There were 36 month ones previously.

Tedandmeg

Hi

Not sure if this is the best place to post this, I currently have 3 credit cards on 0% deals however one of cards has just ran out and I’m now on a standard interest of 22% apr. The debt on this card is around £11000, I’ve tried to transfer it to another 0% card or one of my other existing cards at a lower rate but I can’t get any more credit due to be credit score as my debt to income is too high, this is due to me being on maternity leave and my work pattern changing from full time to part time so my incomes reduced massively. Any help that anyone could give would be appreciated, I don’t even know if I could get a loan to pay it off. Anyone had a similar problem? Thanks

ex-dmp

Got offered and accepted a Barclaycard BT deal via Clearscore very recently

HuntRachel

Can I use balance transfer card to pay off PayPal credit?

Maria58

I recently added a balance transfer to my Halifax CC. But now am informed that i need to clear the whole balance each month (including the balance transfer) to benefit from any interest free period. They even charge from the moment of the purchase. Which has made my credit card now useless as i would usually use the interest free period (as it states up to 56 days). I spent an hour discussing this with them but to no avail. And they even had the audacity to send me a letter saying that they have dealt with my complaint!

redux

Maria58 wrote: »

I recently added a balance transfer to my Halifax CC. But now am informed that i need to clear the whole balance each month (including the balance transfer) to benefit from any interest free period. They even charge from the moment of the purchase. Which has made my credit card now useless as i would usually use the interest free period (as it states up to 56 days). I spent an hour discussing this with them but to no avail. And they even had the audacity to send me a letter saying that they have dealt with my complaint!

I think (or I'm hoping) that you've misunderstood this a bit.

The balance transfer will still be free of interest, but purchases will not (as it hasn't been paid in full).

So some people suggest no spending at all, but I reckon trickling along on modest spending about equal to the monthly minimum payment keeps a bit more of the benefit of the 0% offer. Also, move the payment date to the day after the statement instead of the defined due date.

If you've done a lot of recent spending on this card, you may have a bit of a problem. Perhaps you can find another balance transfer offer and move the purchases across to that.

Maria58

Thanks for the reply. Yes the balance transfer is still 0%. But any purchases incur interest immediately until i pay the whole balance off, including the transfer. To be honest i feel i bit misled by the CC company.

redux

Maria58 wrote: »

Thanks for the reply. Yes the balance transfer is still 0%. But any purchases incur interest immediately until i pay the whole balance off, including the transfer. To be honest i feel i bit misled by the CC company.

Yes, but not necessarily the whole balance. If you spend say £50 the interest will be about 2 pence a day. If you buy two weeks ahead of the statement and pay back the day after the statement that's about 30 pence.

chelsea_paige

Hello, I haven't used a forum before so I hope this is correct!

I currently have a 20 month 0% interest credit card with HSBC. The 20 months will expire in March 2020. We have a wedding to fund so I have been, and plan to continue to pay for bigger wedding purchases on this. By the time the wedding comes around, there will be 3 months remaining on this 20 month interest free card and we will likely have consumed the majority of my credit limit.
My question is, would it be possible to get a balance transfer card for a card that is still in its interest free period? so interest free to interest free?
We fully intend to pay it off it just gives us a bit longer to do so this way!

Thank you!

eskbanker

chelsea_paige wrote: »

My question is, would it be possible to get a balance transfer card for a card that is still in its interest free period? so interest free to interest free?

If you're able to obtain a 0% balance transfer card at the time, with enough of a credit limit, then yes, you can shift the debt from one to the other. Keep an eye on your credit files leading up to this time next year and use eligibility checkers, such as https://creditcards.moneysavingexpert.com/?balance-transfer, to monitor your chances....