Balance Transfer
Discussion
No problems. Yep you can apply for a credit card with another institution. So long as approved you can then phone the new company, and request them to pay off the balance. There is usually a 3 per cent fee so £60.00 which will be tagged onto the balance.
I think there is also usually a ceiling, so you cant max out your card on balance transfers. Just make sure you don't spend on that card because it can affect where your payments are deducted from (ie low/0 interest first, higher insterest after)
I think there is also usually a ceiling, so you cant max out your card on balance transfers. Just make sure you don't spend on that card because it can affect where your payments are deducted from (ie low/0 interest first, higher insterest after)
Apologies if teaching you to suck eggs, but after month 1 there will be a very low minimum payment with MBNA.
If you don't pay the 130 odd a month, the balance left in 16 months will attract a high APR. They have been known to raise APR after the intro periods beyond the 15 or 17% standard rate.
Additionally if you miss a payment the 0% offer will also evaporate, so maybe look to put a direct debit in place.
If you don't pay the 130 odd a month, the balance left in 16 months will attract a high APR. They have been known to raise APR after the intro periods beyond the 15 or 17% standard rate.
Additionally if you miss a payment the 0% offer will also evaporate, so maybe look to put a direct debit in place.
mcflurry said:
Apologies if teaching you to suck eggs, but after month 1 there will be a very low minimum payment with MBNA.
If you don't pay the 130 odd a month, the balance left in 16 months will attract a high APR. They have been known to raise APR after the intro periods beyond the 15 or 17% standard rate.
Additionally if you miss a payment the 0% offer will also evaporate, so maybe look to put a direct debit in place.
My Virgin Card went up to 35%APR after the intro period, so beware!If you don't pay the 130 odd a month, the balance left in 16 months will attract a high APR. They have been known to raise APR after the intro periods beyond the 15 or 17% standard rate.
Additionally if you miss a payment the 0% offer will also evaporate, so maybe look to put a direct debit in place.
shakotan said:
mcflurry said:
Apologies if teaching you to suck eggs, but after month 1 there will be a very low minimum payment with MBNA.
If you don't pay the 130 odd a month, the balance left in 16 months will attract a high APR. They have been known to raise APR after the intro periods beyond the 15 or 17% standard rate.
Additionally if you miss a payment the 0% offer will also evaporate, so maybe look to put a direct debit in place.
My Virgin Card went up to 35%APR after the intro period, so beware!If you don't pay the 130 odd a month, the balance left in 16 months will attract a high APR. They have been known to raise APR after the intro periods beyond the 15 or 17% standard rate.
Additionally if you miss a payment the 0% offer will also evaporate, so maybe look to put a direct debit in place.
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