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  • FIRST POST
    • kartingmad
    • By kartingmad 14th Nov 19, 12:09 AM
    • 82Posts
    • 81Thanks
    kartingmad
    Money transfer stoozing
    • #1
    • 14th Nov 19, 12:09 AM
    Money transfer stoozing 14th Nov 19 at 12:09 AM
    Hi

    So Iím totally new to this. The only thing I remember is my grandad doing this in the good ole days,always remember he had about 20 credit cards stacked up in the draw.

    So the only reason I am querying now is that I have just noticed on barclaycard I have a money transfer 0% offer until nov 2021😀 with a 2.4% fee.

    How can I utilise this as Iíve got around 12k I could move?

    I noticed people talking about the 2 card trick.....

    Any help appreciated

    Tom
    £10 a day - 2015 - £1173.06


    check out ukroadcycling
Page 2
    • MallyGirl
    • By MallyGirl 2nd Dec 19, 1:24 PM
    • 4,135 Posts
    • 9,595 Thanks
    MallyGirl
    I have lost some but am still ahead of what I would have received through conventional savings. I do have some that I have been trying to liquidate since January- I am receiving the monthly interest but cannot sell for a variety of reasons. More recently I have had a couple that have waited till a couple of days before the end before admitting that there will be a delay in paying out - luckily not the end of the world for me but would be a pain if you needed the money back on time.
    • Angie B. Wilkinson
    • By Angie B. Wilkinson 5th Dec 19, 6:33 PM
    • 7 Posts
    • 13 Thanks
    Angie B. Wilkinson
    24 months at 0% with a 2.4% fee existing customer money transfer offer? Are you sure?
    If you use your Barclaycard up to it's limit hope you have other cards to use for purchases and normal day to day spending.
    • Ben8282
    • By Ben8282 5th Dec 19, 8:26 PM
    • 4,763 Posts
    • 2,635 Thanks
    Ben8282
    24 months at 0% with a 2.4% fee existing customer money transfer offer? Are you sure?
    If you use your Barclaycard up to it's limit hope you have other cards to use for purchases and normal day to day spending.
    Originally posted by Angie B. Wilkinson
    Anybody can post and claim anything they like. It really is for individual readers of posts to judge the validity or otherwise of the claims made.
    Last edited by Ben8282; 05-12-2019 at 9:58 PM.
    • Retired Mortgage Adviser
    • By Retired Mortgage Adviser 12th Dec 19, 3:25 PM
    • 350 Posts
    • 464 Thanks
    Retired Mortgage Adviser
    The 2 card trick requires a different kind of money-transfer offer.

    For example, MBNA existing users often get an offer similar to the following - Money transfer at 6.9% lifetime (or a certain time limit), with 0% fee.

    So what you do is -
    Step 1 - transfer (say) 5k using this MBNA offer to your bank account.
    Step 2 - Once the above is approved, immediately do a balance transfer for 5k from MBNA to a low/no fee 0% BT card (such as the Sainsburys or Natwest ones currently available).

    So you effectively end up doing a 0% money transfer with a fee of 6.9% interest for a couple of days. For 5k, that would come to less than £2 for 2 days.

    I hope that's clear.

    Unfortunately, I've never had an offer from Barclaycard that was fee-free and similar to the above. Their offers are always like the one you described.





    Hi


    So Iím totally new to this. The only thing I remember is my grandad doing this in the good ole days,always remember he had about 20 credit cards stacked up in the draw.

    So the only reason I am querying now is that I have just noticed on barclaycard I have a money transfer 0% offer until nov 2021�� with a 2.4% fee.

    How can I utilise this as Iíve got around 12k I could move?

    I noticed people talking about the 2 card trick.....

    Any help appreciated

    Tom
    Originally posted by kartingmad
    Last edited by Retired Mortgage Adviser; 12-12-2019 at 3:28 PM.
    I am NOT a Mortgage Adviser, I used to be one
    You should note that this site doesn't check my status as an ex-mortgage adviser, so you need to take my word for it. My posts on here are for information and discussion only. My opinion is not advice and should not be taken as such.
    • fwor
    • By fwor 24th Dec 19, 6:20 PM
    • 6,275 Posts
    • 4,323 Thanks
    fwor
    <please ignore - pushing spam out of the forum index>
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