balance transfer, when credit card is closed

durden

Hello,

Could anybody tell me if it is possible to transfer a credit card balance to another credit card company, even though the orginal account is closed. The credit card company is charging a lot of interest on the bill so I need to get it transferred to a 0% interest card if possible.

thanks

jonesMUFCforever

What makes you think the 'closed' account will offer you 0%?

NickX

jonesMUFCforever wrote: »

What makes you think the 'closed' account will offer you 0%?

I think the OP means that the card which he wants to transfer from is closed although still holding a balance which is accruing interest.

I don't see why doing such a Balance Transfer would be a problem, although I've not had this situation myself.

CLAPTON

you need to explain the circumstances

SarahNeedle1872

If there is a balance on the first account, surely it cannot be considered closed?

NickX

SarahNeedle1872 wrote: »

If there is a balance on the first account, surely it cannot be considered closed?

Well when Egg closed the accounts of 161,000 customers earlier this year, those accounts were left with balances that could continue to accrue interest.

SarahNeedle1872

NickX wrote: »

Well when Egg closed the accounts of 161,000 customers earlier this year, those accounts were left with balances that could continue to accrue interest.

Good point! I stand (well sit!) corrected

durden

Hello all,

Sorry I was not very clear in my orginal query. The credit card (Llyods) account is closed, so at present I'm paying a lot of interest on that outstanding balance.

Could that outstanding debt be transferred to a different credit card company that would offer a lower interest rate?

thanks

leicsmarkyr

durden wrote: »

Hello all,

Sorry I was not very clear in my orginal query. The credit card (Llyods) account is closed, so at present I'm paying a lot of interest on that outstanding balance.

Could that outstanding debt be transferred to a different credit card company that would offer a lower interest rate?

thanks

Yes its just a balance transfer - the bank just see it as a payment and nothing else. They dont know who has paid it off as such,.