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Original poster

0% Balance Transfer Question

3 replies

Soggybaps · 08/12/2023 10:59

Hi all hoping someone can help answer my question regarding 0% balance transfers.

I have a big credit card bill that I am struggling to pay due to an unexpected boiler breakdown and replacement.

I have a barclaycard which I have currently got some money on from a previous 0% balance transfer (car repair) which I have £795 left to pay until october 2024. I am paying £80 a month via direct debit to that so should be paid off by the time the 0% runs out.

the same barclaycard has an offer on that i can do another 0% balance transfer until 1st sept 2025.

so my question is, can i do a balance transfer on top of the one i am currently paying? so transfer the boiler bill on my current credit card (which is 12% interest), onto my barclaycard which has the £795 at 0%?

so in total my barclaycard would hold £2695 .

If i can do that i am guessing the £795's 0% will still run out in Oct 2024 and the remaining then has 0% until Sep 2025?

i will add that i DO NOT spend on the barclaycard. I simply use it for the 0% repayments if i get any unexpected large bills i need to pay off.

or would i be better getting a seperate card with 0% for the boiler bill and pay two sepertate DDs?

sorry if none of this makes sense happy to answer any further Qs!

P.S. sorry for any typos or grammatical errors i am typing on my phone with extremely cold fingers!

thanks,
Soggy.

OP posts:
uselessatnames · 09/12/2023 00:29

You can have two separate balance transfer offers on 1 card yes, the oldest balance will be paid off first. On your statement it should list a breakdown of the active promotional offers and list the relevant end promotion dates for each balance.

NoSquirrels · 09/12/2023 06:15

Yes, you can do exactly what you’re suggesting and it sounds sensible.

Longer term, if you can try to stash a bit of cash away for the ‘expected unexpecteds’ like car repairs and boilers, then it’ll take some pressure off. Even if that means you pay a bit less off the 0% card and look for another balance transfer at the end of the period.

WYorkshireRose · 09/12/2023 06:19

can i do a balance transfer on top of the one i am currently paying? so transfer the boiler bill on my current credit card (which is 12% interest), onto my barclaycard which has the £795 at 0%?

Yes

If i can do that i am guessing the £795's 0% will still run out in Oct 2024 and the remaining then has 0% until Sep 2025?

Correct

or would i be better getting a seperate card with 0% for the boiler bill and pay two sepertate DDs?

No, there's no reason you'd need to do this.

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