Is there a time limit to stay with CC to avail of 0% on balance transfers

N

Ned_ie

Registered User
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Hi all

Well the question is really as stated in teh title. I am thinking of changing CC on the basis of having bought a house and feeling like I did so on the CC!!!! Was planning on applying to somone like BOSI and transferrign balance there and then in 6 months moving to someone lese and transferring the balance again.

Is there a time limit I need to stay with the cc?
 
Thats a good question and one I'd like an answer too aswell. I would imagine that you can transfer at any time. Bearing in mind it takes about 3 weeks to transfer and so you'ld need to arrange the transfer three weeks before your 0% offer expires if you have an outstanding balance.

(Dont you hate it when you get replies from people saying 'i would imagine....')
 
Also remember that the new CC may be given at a lower credit limit than your existing card so you could end up with two cards and two government charges.
 
I am half thinking of moving to a UK credit card to avoid the government charge!!!! I alsready have a UK one and the benefits are far better than my Irish one!
 
Just a note of caution on this my sister had a credit card from Bank of Ireland in Northern Ireland. She was living in the North but then moved to the South. After she moved to the south the Goverment Levy was applied to the card when she queried this she was advised as she was resident in the South the Irish levy had to be applied.
 
Ned_ie said:
I am half thinking of moving to a UK credit card to avoid the government charge!!!! I alsready have a UK one and the benefits are far better than my Irish one!
Click to expand...

If you make much use of the card at all then it is likely that any savings on the government fee are more than outweighed by the fact that you could end up paying FX margins twice, once when you purchase items in Ireland for Euros on a sterling credit card and once when you convert your Euros to Sterling every month to pay the bill.

If you have savings in Sterling already and are using the credit card to repatriate the funds to Ireland gradually then it might be worthwhile.
 
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