How does transferring the balance of your credit card to another credit card work?

credit card
marcoporres asked:


I want to transfer the £1500 I owe to another credit card at 0% interest over 12 months. How do I do this?

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One Response to How does transferring the balance of your credit card to another credit card work?

  1. Zasetti
    January 19, 2010 at 6:34 pm

    If you haven;t got another credit card to transfer to already, apply for one first. Once your new credit card is activated you can transfer the balance onto your new credit card. There is a charge between 2-3% of the balance you are tranferring. The new card provider will pay off your debt and you just pay them as you would normally except this time it is interest free for the duration. It is advisable not to use your credit card tho as that would just bump up your balance.

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