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120 Posts
Discussion Starter #1
2 credit cards

red card has
0% on purchases for 6 months
0% on balance transfers for 3 months

black card has

0% on purchases for 3 months
0% on balance transfers for 17 months


now if i was to pay for something on the red card, can i then transfer the balance onto the black card so i can take advantage of the 17 months 0%

not sure how it all works tbh!
 

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everythings upsy daisy.
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1,442 Posts
2 credit cards

red card has
0% on purchases for 6 months
0% on balance transfers for 3 months

black card has

0% on purchases for 3 months
0% on balance transfers for 17 months


now if i was to pay for something on the red card, can i then transfer the balance onto the black card so i can take advantage of the 17 months 0%

not sure how it all works tbh!
Correct i believe.. :D
 

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Discussion Starter #3
even though its with the same bank?

ive accepted both cards so just waiting for them to come,

have some plans down a tdi north if i can do what i explained!

how do i transfer the balance from one card to the other?
 

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Discussion Starter #6
Hmm suppose but id just prefer to keep it all in the same place

Would I be able to carry out my plans swapping the balance from one card to the other even though both cards are issued from the same bank?

Santander
 

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Administrator
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24,216 Posts
Would I be able to carry out my plans swapping the balance from one card to the other even though both cards are issued from the same bank?

Santander
I'm no expert on this but I assume banks offer these 0% balance transfer deals to try to lure people from another lender. If both cards are with the same lender then what would be in it for them?

Surely there will be some clause in the terms and conditions which prevents you from doing this. I may be totally wrong though. :)
 

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Premium Member
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1,293 Posts
Is the balance transfer just to transfer existing credit cards on to your new card, but once up and running this service will not be available, could be worth contacting Santander and asking them also read the small print. Just looked at the Santander site and this 17 months is from the opening date of the account and incurs a 3% fee. :D
 

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R.I.P - (User sadly passed away)
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I find it best to accumulate a few different Credit Cards, all from different Issuers - I currently possess 5 ! ...

However :-
  • I only ever use 1 or perhaps 2 in any particular month
  • If an Issuer has a campaign (e.g. extra fuel discount) I use that one
  • I almost invariably pay those used off, in full, on time
  • So, I always get the best deals going, at no charge to me
  • I addition, I have plenty of 'reserve' credit for any emergencies !
 

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Unlikely you will be able to transfer between cards with the same bank or even anyone that has Santander as their card provider.
 

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Supercharged Blue Type R
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2,399 Posts
There is always a fee to transfer balances.

I have 3 cards, Natwest Platinum, a Virgin and a Barclaycard and always transfer balances between them to avoid the long term charges. Use cards smart and you actually get a good deal, better than any loan. Always transfer large purchases from one card to a card with 0% balance transfers.
 

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Unofficial Trader
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1,295 Posts
even though its with the same bank?

ive accepted both cards so just waiting for them to come,

have some plans down a tdi north if i can do what i explained!

how do i transfer the balance from one card to the other?
Ok Ben....I'm a devil when it comes to cards.....

1. You cannot perform a balance transfer between cards from the same bank.
2. Watch out. 2 credit cards from the same credit card is not gonna be any advantage to you...you can never maximise the usage.
3. You have to choose between the 2 mate. It depends on what you want. 0% interest free period on purchases for 6 months or just 0% on any balance transfer for 17 months?

PM me if you need any further info....

Cheers
Blink
 

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Premium Member
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I am a credit card warrior as well.

Barclay card Platinum 0% on balance transfers for 20months

one of the catchs of these long balance transfer cards is the balance must be transfer in the first 60-90 days of opening the account or it reverts back to standard rate.

I have 7 credit cards. Mainly because I use them interest free period up, pay everything off so I am at £0 debt. then move on to another card.

I fear canceling a card my hurt my credit rating? I am not sure though so i keep them n a folder 1 is 5 yrs old I used it for 6 months thats it.
 

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...

I fear canceling a card my hurt my credit rating? I am not sure though so i keep them n a folder 1 is 5 yrs old I used it for 6 months thats it.
Opposite, having lots of available credit not in use can ring alarm bells for some lenders. They don't just look at what you owe, they also look at how much you could owe, credit cards are potential credit you can run up very quickly. Big credit limits not in use is a risk they don't want.

Also most credit cards are run by just a few companies, often a card issuer wont allow you to have one from an affiliate they run. For example if you have an MBNA account and say Nando's decide to have a card run by MBNA, MBNA will stop you taking advantage of any special terms Nando's offer. The only issue is some card issuers sulk and wont allow you to open another account within say two years of closing one.
 

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Opposite, having lots of available credit not in use can ring alarm bells for some lenders. They don't just look at what you owe, they also look at how much you could owe, credit cards are potential credit you can run up very quickly. Big credit limits not in use is a risk they don't want. Also most credit cards are run by just a few companies, often a card issuer wont allow you to have one from an affiliate they run. For example if you have an MBNA account and say Nando's decide to have a card run by MBNA, MBNA will stop you taking advantage of any special terms Nando's offer. The only issue is some card issuers sulk and wont allow you to open another account within say two years of closing one.
Which is why I use all my cards routinely - not as a substitute for having money, but as a 'buffer' in case of fraud - I never use my debit card online or when on holiday etc. (except to draw out cash) ...

My 5 cards are all from different issuers \ companies - they all get used for a few months a year, so I keep a good credit rating from everyone involved ...

I'm fast running out of issuers here ! - there is one large company, who issue cards for several different banks etc. - so, my most recent two cards are from local affilates of Swedish & Danish companies ...

p.s. - no large credit limits here (unless you are a millionaire) - typically, a card will only give you between 50% and 100% of one month after tax salary ...
 

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Arfurs right hand man
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over and above all this, dont forget that although they are 0% interest cards, you are normally charged a % of the balance being transferred, usually about 2.5%, so you wont pay any interest, they'll charge you say £25 for every £1,000 you bang over.
 

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