Barclaycard Loophole (Life of Balance Advise!)

NewbieMoneySavingExpert

Hi

I am looking to transfer a credit card debt to the Barclaycard 6.9% for life of balance.

On my card I have a balance of £5085 and have in the past used it for an existing balance transfer, purchase and cash withdrawals. If i read the article correctly I understand that I would not get the 6.9% for all of this amount as its been used for different purposes. So my cash withdrawals would be at say 19.9% for example


I then read the article on how to get out of this problem by moving all the debt onto another card then as soon as the debt is moved (wait until you get the statement to confirm the balance is zero), simply balance transfer it back to Barclaycard along with the debt you were planning to move.

My issue is this: I do not have enough on my other credit cards to shift the £5085. I recently applied for my credit rating and it says its excellent so would I be able to open up a new credit card, shift the £5085 to this and then transfer it all on to the Barclaycard for the 6.9% rate for the full amount?

Or should I just do a balance transfer to a 0% card for a period of time and then keep changing to a new 0% card when the time period runs out?

Its all very confusing so any advice would be great

Thanks