Sam
Moderator
Premium Member
Registered: 24th Dec 99
Location: West Midlands
User status: Offline
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If for example you had two credit cards and you wanted to transfer the balance from one to the other one month, then vice versa the next month, and so on, is that possible; ie. is there a limit to the number of balance transfers you can do?
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myaztecorsa
Member
Registered: 2nd Nov 04
Location: Liverpool
User status: Offline
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you could do it for as long as you liked but don't forget that the interest would keep acruing untill you reached your limit - then you wouldn't be able to do it anymore
http://craigrigby.co.uk/corsa.php
http://www.rigbyc.plus.com/gallery/Cars/McKennas%20Corsa%20SXI/index.htm
http://www.jonesj.pwp.blueyonder.co.uk/Vauxhall%20Corsa%201.2%2016v%20SXI/index.html
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Sam
Moderator
Premium Member
Registered: 24th Dec 99
Location: West Midlands
User status: Offline
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One of the cards is 0% till May 2005, plus I would be paying £ to clear the balance down too - just don't want to have to pay any more interest than I really need to.
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myaztecorsa
Member
Registered: 2nd Nov 04
Location: Liverpool
User status: Offline
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It depends on the card issuer whether you can transfer more than one amount over @ 0%. Some (Barclay card for instance) only let you have the first amount that you transfer @ 0% and then any further transfers you have to pay interest - like you would with purchases.
Egg or Mint are best cause they are unlimited @ 0% but cc's are the bane of my existence! Should have em all payed off in about 2 years tho
Still got my car looking like this -
http://craigrigby.co.uk/corsa.php
http://www.rigbyc.plus.com/gallery/Cars/McKennas%20Corsa%20SXI/index.htm
http://www.jonesj.pwp.blueyonder.co.uk/Vauxhall%20Corsa%201.2%2016v%20SXI/index.html
[Edited on 12-11-2004 by myaztecorsa]
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DB666
Member
Registered: 30th Oct 04
Location: Birmingham, UK
User status: Offline
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I've been quite cleaver with my credit cards if i say so myself... I brought my car for £1800 cash, then took out a credit card with Mint.. wrote a cheque with mint to my current account... and then i have a almost 2k loan... for free for 9 months... once that ran out i just balance transfered to a BarclayCard for another 9 months... after that i'll do the same if i need to assuming i haven't sold it.
I only have to pay £36 a month roughly... which is great or like most months i'm paying off a good £50-100 depening how my money goes. The good thing is that unlike a loan i dont get stung when something goes wrong with regards to my finances 
How long they'll allow me to do this before they start getting a bit peed off is anyones guess but its great while it lasts 
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MarkM
Member
Registered: 11th Apr 01
Location: Liverpool
User status: Offline
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That is an excellent idea...well done...you are not getting the loan for free as you have to pay it back but you are getting it interest free which is helpful...
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DB666
Member
Registered: 30th Oct 04
Location: Birmingham, UK
User status: Offline
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You have to be careful... i have the understanding that at any point i may have to sell my corsa to pay off the loan... for this reason i haven't spent much/anymore money on my car
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