Quick balance transfer question...

Esoog

Good morning, I set up a couple of balance transfers onto a new card the other week, the woman on the phone said it might take "X" days for it to happen.. thing is its fast approaching payment date for the cards I'm trying to move the balances off, what should I do? Just make the usual payments?

NickX

Yes

Definitely make minimum payments to the card you are transferring from. This will protect you from late payment penalty charges.

If the account does go into a positive balance you can always request a refund by cheque at a later date.

If the BT doesn't go through in time and you don't make the minimum payment you will get a £12 late payment fee and extra interest to pay.

Bokkens

NickX wrote: »

Yes


If the BT doesn't go through in time and you don't make the minimum payment you will get a £12 late payment fee and extra interest to pay.

You'll also have a late payment marked against your credit rating,not too damaging if it is a once in a lifetime event but if you have had several this year you may find your credit being refused.
Also to avoid this worry next time apply earlier for the 0% cards you want the BT to go to.

1andrea

How long does a balance transfer usually take? They normally quote 10 working days but does it really take this long?

Thanks