Is this the best solution for me?

boo2905

Hi.

I'm wondering if anyone could offer me any advice.

I've just been accepted for a barclaycard (I only applied because I don't want to be paying money on my existing card).

Looking at the paperwork that came with it there is 0% interest on balance transfers for 12 months and 0% on purchases for 3 months. However, the payment order is to pay off the balance transfer first and then allocate money to pay off purchases. Does this mean that I would have to pay off my balance transfer in 3 months so that I don't accrue interest on purchases?

As I said the reason I am getting the card is more to clear my card and not spend on it but what I intend to do is set up a payment from my account where my wages go and divide my balance between the 12 months interest free so that it is paid off in full. At the same time my RBS card will be empty and if (and that's a big IF) I do need to purchase something with my card as an emergency I could use my old card and it would be paid off the purchases straight away?

Sorry if it's a bit confusing how I've explained it but I wanted to check with everyone on here first before I go ahead.

CLAPTON

basically only use it for the 0% BT for 12 months and don't use it for purchases.

boo2905

Hi

Yes sorry, that's what I meant. I just said it in a bit more of a complicated way.

Is this the wisest decision for me?

Moggles_2

Yes. Whatever you do, don't spend on your new Barclaycard. Just transfer the balance(s) from RBS, then put the card away in a drawer and make the monthly repayments. For an explanation, see Martin's *Never spend on a Balance Transfer card* article on the main site

Once the balance is paid off, you can use your RBS card for shopping, as you've said. If you always settle your monthly statement balance in full by the payment due date, your shopping will be interest-free and you'll be building a good credit history in the process