credit cards question...

[Richie]

since I've not got a credit card as yet....
I'm wondering if I can get a 0% credit card with balance transfers and pay off my over draft?
or does it have to be balance between other credit cards only ?

The last time I had a credit card was 13 years ago... and things I think may have changed a little.

Cheers in advance for any useful information :0)

Regards

Confused. Richie :smt104

[beabert]

Some cards let you transfer to an account at 0% yes, virgin is one. Each card is different mate :-)

[Dave20046]

http://www.moneysavingexpert.com/cards/0-balance-transfers-spending#best

There you go matey, would like to say I went to a lot of effort for that link but it's been on my favourites bar for the last two weeks as I keep meaning to read it and get another!

[tigersaw]

Yes, but the cheeky beggers then take your monthly payments off the 0% bit, and charge you interest each time on any other transactions.
So, borrow £2000 0%, spend £500 each month, pay off £500 each month. Its 5 months until you begin to pay back any of the cumulative interest earning transactions.

[MisterTommyH]

As above, anything you transfer (other card or overdraft) in the first two months of the card is 0% for, say, 18 months.

Anything you transfer after that, or any purchases / cash will accrue interest.

When you make a payment, they take it off the lowest interest first as that makes them the most money.

At least thats the deal I just got.

[Dave20046]

Just to clarify you mean after the 18 months not the 2months don't you Tommy?

Can't say I've looked at the small prints but that'd be my assumption , and that's the terms my current credit card is on.

[beabert]

They are all different read the terms, and do not use the same card for purchases what ever you do. Just transfer within the allotted time and put it away.