interest on the last month?

goldmercury

Hi

my egg card's 0% runs out on 01 SEP 2005 I was wondering when the best time to apply for a new card is, i've curently got an MBNA which will be fully paid off in 7-10 days. I was thinking of canceling that and going for the virign but I'd like to give some time for my credit report to update, so was wondering what's the best date for me to apply for a new card, and if I transfer the balance near the end of september from my egg card will I have to pay interest?

YorkshireBoy

goldmercury wrote:

I was wondering when the best time to apply for a new card is...

Allow 6 weeks for opening a new card and getting the BT done.

goldmercury wrote:

i've curently got an MBNA which will be fully paid off in 7-10 days. I was thinking of canceling that and going for the virign

You probably won't get a Virgin card so quickly after closing MBNA as they're part of the same organisation.

goldmercury wrote:

but I'd like to give some time for my credit report to update

It can take 2 months for credit records to be updated following closure of account.

goldmercury wrote:

my egg card's 0% runs out on 01 SEP 2005.....if I transfer the balance near the end of september from my egg card will I have to pay interest?

Is this a trick question?

Milarky

goldmercury wrote:

Hi

my egg card's 0% runs out on 01 SEP 2005... If I transfer the balance near the end of september from my egg card will I have to pay interest?

Yes, from 2nd September until any balance is repaid at the daily rate of 38p/day/£1000 [@14.9 apr]

YorkshireBoy

Milarky wrote:

Yes, from 2nd September until any balance is repaid at the daily rate of 38p/day/£1000 [@14.9 apr]

To make sure you don't incur interest, I'd pay it off *before* 1st September.

sicker

If it were me I would make sure I had cleared it by 17th August, just to be on the safe side. I would then lock the card away and wait for the next anniversary offer.

John