credit card questions

gareth9358

I have £400 on an old HSBC cc i got when i was at uni. it has a £500 limit. and at the moment i am paying off minimum payments as i cannot afford to cripple myself with one lump sum.

I also am in the need of making a purchase for my new venture as a photographer. this will cost about £450. I want to make this purchase b4 the end of the tax year for obvious reasons.

Now egg card have sent me a leter offering me a cc which has 0% on balance transfers for 14 months and purchases for 3 months.

If i get this card i coul transfer my £400 from my HSBC and pay it off over them 14 months. But if i make my big purchase, i would need to pay within 3 in order to avoid interest. BUT

can i balance transfer the £400, settling that card to £0, then make my big purchase on the same HSBC card, then transfer that balance over? and having all the money interest free for 14 months?


Sorry it was a long winded explanation.

Any advice/suggestions/answers would be much apprciated.

Gareth:o

ShelfStacker_3

Yes, you could.

Long winded explanation, very short answer.

gareth9358

the other question i should have put was,

is it possible to get a quotation and find out if i will be accepted for a credit card without going through the process of being refused and then having a cc application to my name which would stifle me to try with another company as they dont like too many applications

ShelfStacker_3

Should be able to. Call them and ask, it won't hurt...

gareth9358

Nope.

I would have to make a regular application. Feels like Russian roulette. If they decline me then im stuffed for anothe 6 months.

dosent make sense to me

CLAPTON

one or two credit searches on your credit record will do no harm

gareth9358

After all that..........

at least i can transfer my balance and not pay interest for a while....

thanks for all your help