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

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

[Dave20046]

http://www.moneysavingexpert.com/car...-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.

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.