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Help with 0% credit card transfers, please

2 replies

Secretservice · 24/07/2013 09:33

I have two long-standing credit cards. Earlier this year I transferred some of the balance from card A to card B under a 0% deal. So on card B now I am paying some at 0% some at the regular extortionate rate.

Now card A is offering a 0% deal. Would it make sense to transfer some back, or would card B just transfer the 0%. And I'd end up paying the fee for no benefit?

Any guidance would be much appreciated.

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CogitoErgoSometimes · 24/07/2013 10:48

I don't think, if you already have a card with A, that you could take out a 0% card... but I could be wrong. I'm assuming that you couldn't transfer the full balance of A into B to take advantage of the deal.

My personal suggestion is that you throw as much cash as possible into paying off card A where you are being charged the most interest - ideally clearing the balance before your card B 0% deal ends. Pay the minimum of the card where you're on 0%

Secretservice · 24/07/2013 12:09

Thanks cog. The new deal is on the same card, keen to get more of my money after the original transfer!

I have now done the second transfer, so now most of my debt is 0% but I will keep paying the old minimum payments so hopefully it will all go down that bit quicker!

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