Which Credit Card?

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PaulyG
 
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Joined: Sat Aug 22, 2009 12:31 pm
Location: Hemel Hempstead, Herts.

Which Credit Card?

Postby PaulyG » Sat Aug 22, 2009 12:43 pm

Hello All,

I'm a newbie to this site and seek your advice if I may? Apologies if these questions have been asked elsewhere.

I am currently putting the cost of a holiday to the US on my Tesco Credit Card.
I am considering doing a balance transfer to another card to pay off the holiday without interest. I am looking at about £2000 - £2500 onto the Tesco Card.
  1. Which card would you recommend for a balance transfer? I should be able to pay the debt off in 12 months.
  2. Am I able to make more than one balance transfer to the new card once I have it? E.g. if I get the card before the holiday and continue to put expenses on the Tesco card on the holiday can I transfer the debt over to the new card on my return?
  3. I've read that you should never make purchases on the balance transfer card because the charges could be very high. Any thoughts on this?
Any help you can offer I would be very grateful.

PaulyG


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Mogul of Pineapples
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Joined: Sun Jun 01, 2008 11:32 pm
Location: Smogland

Postby Mogul of Pineapples » Mon Aug 24, 2009 11:10 pm

Well about question #3 - yes that's right. Don't use the card for purchases because the payments will be applied to the lower interest rate (the balance transfer) before they go towards the higher interest rate normal purchases.

I'm in the US so I don't know what cards are best across the pond, but I've heard that the Virgin credit card over there has a reasonable APR.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred



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