We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
I know we aren't supposed to spend on balance transfer but,

vipa2000
Posts: 4 Newbie
in Credit cards
My situation. I have a £3000 overdraft and a £2500 sainsburys credit card bill. I have some shares coming in March which will more than cover the above. I need to continue with building works. I have applied for a Lloyds Duo card, simply for the free flight! I was then thinking of applying for a Barclaycard for 14 months interest free. I was then going to stop all spending on my debit card and spend all i could on my Sainsburys card before transferring all the debt to the Barclaycard. I have noticed however that the Duo offers 6 months interest free. This really would cover the period i need and keep everything simple i.e not anothrt card. I have to spend £100 on the duo however to get the free flight. Now I have phoned Lloyds and asked if I paid back the £100 pounds above the amount i balance transferred would the 0% apply or am i going to end up paying interest on part of the balance transfer? I didn't get a convincing answer. Sorry if this doesn't sound right, but i am basing it Martin's advice of never spending on a balance transfer account. For me I would only spend the £100 to get the flight. Thoughts? Regards vipa.:j
0
Comments
-
As with all (or most anyway) IMO you would be paying interest on the £100 and this would be paid off last.
In your situation I would say that the flight option is not the best for you at this time and a 12 month 0% purchase card or balance transfer would be better.
You can apply for the Duo card once your finances are sorted out later in the year.0 -
You will pay interest on the £100 purchase at £1.24 per month.
Is the (free) flight worth a fiver?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.1K Work, Benefits & Business
- 600.7K Mortgages, Homes & Bills
- 177.5K Life & Family
- 258.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards