Your old credit card after transfer
Star81
Posts: 37 Forumite
Hello. I'm new to using credit cards but I've needed to get two out in order to solve a one off financial problem. Both cards have long 0% interest free period but I'm worried about what happens when these run out. Once I have found other cards to transfer my balances to what happens to the original cards? Are they finished for good? Can you close them down and applying or them again at a later date? Or can you never apply to them again? Thanks for any advice guys!
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Comments
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Close them or keep them. Your choice.
You can normally reapply 6-12 months after closure.0 -
Thank you, I wasn't sure how it worked after transferring a balance from them. If you closed the card would you still be offered the same 0% interest free period as the first time you applied? I'm concerned as the best offers I am finding is for only very short 0% interest periods and I'm not what I'd do after these periods are finished0
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it depends what offers they have available, and their criteria at the time.0
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Ok thank you0
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ive just closed two of mine. good luck0
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Often new cards have longer periods than are offered to existing card holders, but not always. I typically get offered 12 month 0% BT plus fee deals on my existing cards, but see new applicants will get offered 3x as long. Of course applying for a new card means a new hard search, etc.That said MBNA did offer me a 36 month 0% plus fee MT, which I took them up on.Thank you, I wasn't sure how it worked after transferring a balance from them. If you closed the card would you still be offered the same 0% interest free period as the first time you applied? I'm concerned as the best offers I am finding is for only very short 0% interest periods and I'm not what I'd do after these periods are finished
You will get a variety of opinions on here
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Hello. I'm new to using credit cards but I've needed to get two out in order to solve a one off financial problem. Both cards have long 0% interest free period but I'm worried about what happens when these run out.
You can usually just BT it to another card and close the old one.
Try to leave one "long standing card open though. One of the factors on a credit report is length of accounts, so keeping something open with a small limit is a good idea.Once I have found other cards to transfer my balances to what happens to the original cards? Are they finished for good? Can you close them down and applying or them again at a later date? Or can you never apply to them again? Thanks for any advice guys!
Many cards, Barclaycard is a great example but MBNA do it too, will offer new 0% deals periodically. I know I get a letter from Barclaycard with their latest 0% deals every month.0 -
Great info! Thanks !!!0
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