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Questions about Balance Transfers

edited 30 November -1 at 1:00AM in Credit Cards
478 replies 103.8K views
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  • Can anyone tell me what the best super balance transfer offer is at the moment? It would be for someone with good credit history. Tink x
    Debt to clear: feels endless...

    Weight loss to go: 42lb/13.5lb

    Maybe someday i'll be skinny, organised and debt free..
    :rotfl:
  • redzhellredzhell Forumite
    338 posts
    Part of the Furniture 100 Posts
    ✭✭
    Hello all,

    I'm a newbie here so please be nice! Lol - now I have a question which may sound oh so silly and I suspect I already know the answer but for peace of mind, I'd like to know for definite.

    I've been looking at balance transfers and noticed that there are a lot of 0% on balance tranfers for a period of time but with 3% handling fee. Does this mean that if I tranferred over £1000, I would have to pay £30 for the priviledge?
  • redzhell wrote: »
    I've been looking at balance transfers and noticed that there are a lot of 0% on balance tranfers for a period of time but with 3% handling fee. Does this mean that if I tranferred over £1000, I would have to pay £30 for the priviledge?

    Yes this is correct, but also bear in mind that some Card Providers will charge you interest on the Balance Transfer fee, so it could work out slightly more than £30.
  • I have a £500 balance on my sky card at 0% until november 08. sky have offered me a 0% interest cheque with a 2.99% fee. as i also have £2,000 on a m&s credit card does it make financial sense for me to firstly, transfer my £500 sky debt to m&s, then, secondly, use a sky cheque to pay the combined £2500, leaving me with the whole debt at 0% on sky. i realise i'll have to pay the handling fee. thanks in advace for any help.
  • Hi

    Does anybody know how cash balances on a credit card will be treated when balance transferring to a new card with cheaper interest? I currently have a Halifax Mastercard on a 0% on purchases deal for 10 months, this is due to expire soon so I'll be looking to shift it. I have a small cash balance on the card for which I am charged interest.

    If I were to transfer this balance onto a new card would the cash balance be treated differently from the balance incurred through normal purchases or would I get the cheap/0% interest on the whole balance when transferred?

    Do the deals vary between different cards?

    I know there are a quite a few questions there but I have never done a BT before.

    Many thanks for any advice.

    Regards
    Tom
  • kats53kats53 Forumite
    272 posts
    Part of the Furniture 100 Posts
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    Oops! Posted on wrong board!
  • clioclio Forumite
    3.3K posts
    Made a post about my query..
  • tommarsden wrote: »
    If I were to transfer this balance onto a new card would the cash balance be treated differently from the balance incurred through normal purchases or would I get the cheap/0% interest on the whole balance when transferred?

    I think that's right, as you can simply transfer the entire balance to a new card. But I've never done this before, so it would be good if someone was has could step in! :)
  • sido1sido1 Forumite
    26 posts
    Part of the Furniture Combo Breaker
    can i transfer from present barclaycard to their better platinum card with all the benefits thanks
  • DAB40DAB40 Forumite
    1 posts
    Hi. I want to pay off a loan with a 0% credit card. However, I think I will need to use a cheque to do this. Will this be regarded as cash by the credit card company and if so will I therefore be unable to get the 0% on it as most cards i've had you get charged for cash. If i'm right, could I use a cheque on a credit card and then transfer the balance to another 0% card and use the 0% balance transfer that way?
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