Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • Nickyno
    • By Nickyno 16th May 18, 6:21 PM
    • 11Posts
    • 0Thanks
    Nickyno
    how much would my balance be?
    • #1
    • 16th May 18, 6:21 PM
    how much would my balance be? 16th May 18 at 6:21 PM
    can anyone explain how I work out how much I can balance transfer if my credit limit is 3000 and available for balance transfer 2850. I would also be charged 2.85% of the balance transfer. How much would be transfered?
    how much would my new balance be?

    Is there a calculator anywhere or anyone know how I would work it out?

    Thanks in advance
Page 1
    • Superscrooge
    • By Superscrooge 16th May 18, 7:12 PM
    • 1,089 Posts
    • 786 Thanks
    Superscrooge
    • #2
    • 16th May 18, 7:12 PM
    • #2
    • 16th May 18, 7:12 PM
    You can transfer a maximum of 2850
    BT fee would be 2.85% of 2850 = 81.22
    Therefore new balance = 2931.22

    These figures assume you transfer the maximum. The BT fee would be less if you transfer less than the maximum
    Last edited by Superscrooge; 16-05-2018 at 7:15 PM.
    • Dobbibill
    • By Dobbibill 16th May 18, 10:15 PM
    • 3,314 Posts
    • 4,241 Thanks
    Dobbibill
    • #3
    • 16th May 18, 10:15 PM
    • #3
    • 16th May 18, 10:15 PM
    The reason they normally only allow a BT of 95% of your credit limit is to allow for fees without putting your balance over your credit limit.

    Figures above from Superscrooge for you.
    I'm a Board Guide on the Energy, Student Money Saving, UK Armed Forces and
    Local Money Saving - Wales boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.


    It's not about being the best -
    It's about being better than you were yesterday.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

92Posts Today

2,231Users online

Martin's Twitter