Bos --> Rbs

yogiberr

hiya,

I'm going to do the above balance transfer fee.RBS tell me that the process takes 5 to 10 working days.The transfer fee is 2.5%.

I know that BOS will charge me in full for any month that I don't pay off my balance in full.

My question, if I pay £500 to my BOS card just before I request the balance transfer, does this mean that I'll only pay the balance transfer fee of 2.5% on... the amount I owe MINUS £500?

eg, if my original balance was £1200, and I paid £500 would I only pay 2.5% interest on £700?

Also, I already have this RBS card, I take it that I can't earn quidco money simply doing a transfer to an existing card?

Many thanks,

yogi

Milarky

The fee is always charged on the amount transferred (I'm not clear what your question amounts to.) If you transfer a lesser amount (because there is a lesser amount of debt sitting on the card in the first place) this results in a smaller fee.

Sometimes people find that that if they overpay a credit card - resulting in a positive balance (effectively 'their' money) and then they try to remove their money by a 'balance transfer' they may (it varies) get charged fee for doing so. The advice in these circumstances is to talk to the credit card people and they can often refund the positive balance directly or by cheque. But if the positive balance got there from another credit card they often (it varies) reserve the right to send this amount back to the real owners and not the customer.

As to Quidco paying cashback I think you only get this for taking out a new RBS credit card and is not dependent on how you use it (although cancelling a car before the cashback is awarded is asking for trouble)

yogiberr

hiya,

Thanks for the advice.
With any luck I might be able to transfer it.

yogi