Questions about Balance Transfers

grumbler

If the company accepts CC payments you can simply pay the balance off with a CC offering 0% on purchases: Spending 0% Cards

Otherwise you need a CC offering 0% on money transfers

begganmanu

Hi there , I did a balance transfer around February for 1750 From capital one to barclaycard 18 months 0% and I used the card for purchases another 2250 -totalling 4000. So now I paying minimum payment 90 pound or so and my question is should I transfer 1500 of this balance to a capital one card as it's the only option available at moment for myself or should I stick with the barclaycard and try pay a little over minimum - which is the best scenario ?? Thanks

grumbler

begganmanu wrote: »

Hi there , I did a balance transfer around February for 1750 From capital one to barclaycard 18 months 0% and I used the card for purchases another 2250 -totalling 4000. So now I paying minimum payment 90 pound or so and my question is should I transfer 1500 of this balance to a capital one card as it's the only option available at moment for myself or should I stick with the barclaycard and try pay a little over minimum - which is the best scenario ?? Thanks

The best scenario is to pay much more than a minimum payment, not a little.

Transferring even a part of the balance to 0% is obviously a good idea unless you can get caught with a much higher interest rate than the current one when 0% expires.

And, unless your baraclaycard offered 0% on purchases as well as on BTs, you should address the underlying issues as you keep spending on CCs that aren't 0%, can't pay the debt off and almost ran out of options for BTs to 0%.

MallyGirl

generally it is not good to mix BTs and purchases. If you can shift the purchases to a 0% card that would be better.

begganmanu

Hey thanks grumbler and mallygirl for the advice ,, it's plain and simple what I'm doing wrong and what steps to take and will take the correct action by the way as I'm seldom on this site , how so I quickly find this post for example when log in as I only found it because it was still open on my Google page and so not easy after logging in again

grumbler

Click your username in "Welcome, begganmanu" at the top, under the green bar (old 'green' site; find something similar if you use the new 'blue' version).

Statistics >> Find all posts by begganmanu (or Find all threads started by ...)

http://forums.moneysavingexpert.com/search.php?searchid=162273322

begganmanu

Many thanks again grumbler

vivalavida

Hi,
I recently applied for a post office credit card online to transfer my american express card balance to. The application online would not go through because the amex card number has a different number of digits to other credit cards. I then phoned them and was told that they don't do transfers from american express. Now I have received paperwork from them saying they have started to process my application but I need to send back various documents for ID , Money Laundering etc.
My question is, will this have left an imprint on my credit file already and if so will it prevent me from applying for a different card now (still looking for one that accepts amex balance transfers)?
Also could someone look into which credit cards will accept american express balance transfers as I don't want to apply again only to find out it is not accepted.
Any help would be greatly appreciated.

grumbler

The only 'imprint' is a credit search.
MSE article: Credit Scores

Re Amex, search the board and this thread for 'amex', 'express'. The majority of cards do this, although problems with BTs from Amex aren't uncommon.

One of the recent threads: Balance Transfer - Tesco to AMEX?

mikaz

Hi All,
I've recently moved to the UK from RoI. I have a current € credit card and was wondering if I apply for a new £ credit card is balance transfer possible between currencies?
Thanks in advance.