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!

Options for existing credit card after balance transfer

I'm thinking about transferring my existing credit card debts (2 cards) to a single lower rate card (probably 15 months 0%) so I can clear them off. Once I transfer the debt, MoneySaving advice is to 'never, ever spend on the new 0% card, put in a drawer and forget it till debt is paid off'. So, i order to spend, my question is ... 'Is one option available to me, that I could continue to use the existing cards - now with zero debt?' Is this possible? Another words, do you get to keep the existing cards or do they get terminated after the balance transfer?

Comments

  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    But don't build up new debt on these cards... set up a DD for the full amount each month so you are not tempted to increase your overall debt level
This discussion has been closed.
Meet your Ambassadors

 

This page has been moved to:

forums.moneysavingexpert.com/collections

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.7K Banking & Borrowing
  • 253.4K Reduce Debt & Boost Income
  • 454K Spending & Discounts
  • 244.7K Work, Benefits & Business
  • 600.1K Mortgages, Homes & Bills
  • 177.3K Life & Family
  • 258.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.