Dippy Yvanne

right!!! wtf is a balance transfer???

i wont go into details of spending on mt CC but...

am i right in thinking that a balance transfer is where i transfer balance of my CC to another one so i have longer to pay it off? sumtimes resulting in a small fee?

Arcanegirl

I think so yea. Like if you have a card with one company and want to transfer the balance to a new one.

Dippy Yvanne

lol@ think!!! least im not the only unclued up 1

KX

Im clued up-done it often enough!

Anyway most cc companies often offer say 0% interest on balance transfers for 12 months so you dont pay interest on the amount you have, but you usually pay between 2.5 and 3% handling charge for doing it! its good like u say if u need longer to pay it off, without getting hammered on high interest rates.

HOWEVER they say its better to go with a company that offers eg 6.5 % on lifetime of your balance-Barclay Card are offering this, so we pay a one off 6.5% on our balance then thats it til we pay off our balance-it saves the constant transferring when the 0% expires etc.

HTH

xxx

Dippy Yvanne

can anyone else reccomend any? goldfish sent me a letter saying, plus 4.9% p.a. on balance transfers fixed for 3 years from the date you open your account. Balance transfer fee - 3% (minimum £3) is tht good?

thanx kx

RachieH

3% is now the standard transfer fee. It used to be free!

MBNA are doing a 0% on balance Transfers and cash until January 2009.

https://wwwn.applyonlinenow.com/UKCC...AP-11111-14865

Iwantone!!!

the only prob is ur only allow is to transer 97% of ir balance KX explained it brilliant u can work for a bank hunni hehehe