query over barclaycard life of the balance loophole

zoejaneansell

I have been reading about the great barclaycard offer of putting the life of the balance on the card for a low APR and then getting another card just for purchases

I would like to know if it would be feisable to use the capital one 0% transfer fee card to transfer the balance and then transfer it back onto the barclaycard as the article suggests?

Would i get stung by capital one in anyway for transferring and then re-transferring the balance so quickly as they give you the 0% fee to transfer it?


If not it seems a fantastic way of doing it - apply for the capital one card (the balance transfer free one obviously) transfer the balance over free of charge then get the barclaycard life of the baance card and then tranfer the no capital one balance over to barclaycard - if I can do this I will be exstactic!!!:rotfl:

Any help would be greatly welcomed

Phantom_Flan_Flinger

This is from the T&C's for the Barclaycard :

This credit card balance transfer offer is only available when you apply online using this application form. To qualify for this balance transfer offer you must transfer any balance within 60 days of opening your Barclaycard account.

From what you've said, I presume you already have the Barclaycard?

speedbird1973

Although not officially a permanent arrangement in effect the 6.9% LOB is available all the time.

It's also possible to get your existing debt frozen at 6.9%

Bismarck

speedbird1973 wrote: »

Although not officially a permanent arrangement in effect the 6.9% LOB is available all the time.

It's also possible to get your existing debt frozen at 6.9%

Key word here being possible I assume!

zoejaneansell

I do already have a barclaycard, does that matter?

speedbird1973

Hiya Bismark.

Of course "possible". As always get yourself put through to the 2nd tier of support (in this case the uk based "customer loyalty" dept). They have much more authority.

I was in a position to close my card and transfer to another if required.. however when i told them, their was no proof required, or suspision.. they just toook me at my word and made an offer.

Bismarck

Hi. I said that as I've a 1.9% deal coming to an end in August and was not impressed by the way the Barclaycard balance is being paid off...my payments go against the 6.9% LOB rather than the time limited 1.9%...I thought it worked the other way round but at the moment it's slightly reducing the interest I'm paying. The problem is I'll be left with a lot at 1.9% in July that will hit 20 odd per cent if I'm not careful so I'll then be looking to fix it at 6.9% for the LOB then....or shift it...we;ll see but that's June/July's problem!