Credit card transfer questions

micks_address

hi folks,

If you get a new credit card (an post) which has 0 percent on balance transfers for 12 months. How do you initiate the transfer process?

Also what would the minimum payment be per month if the interest rate and balance transfer rate is 0 percent for first 12 months?

Thanks,
Mick

Johnny Sausage

micks_address wrote: »

hi folks,

If you get a new credit card (an post) which has 0 percent on balance transfers for 12 months. How do you initiate the transfer process?

Also what would the minimum payment be per month if the interest rate and balance transfer rate is 0 percent for first 12 months?

Thanks,
Mick

you should ask An Post

micks_address

Thanks - i will - can't see it on their website

Johnny Sausage wrote: »

you should ask An Post

Bojill

micks_address wrote: »

Thanks - i will - can't see it on their website

Avantcard run that card for anpost, their rates are :

If your statement balance is €25 or less, it will be the total amount of the balance shown.
If your statement balance is more than €25, your minimum payment will be the greater amount of either: €25 or 1% of your statement balance before any default charges, processing fees, foreign currency fees and interest (to which we'll then add an amount equal to the default charges, processing fees, foreign currency fees and interest). Your minimum payment will not exceed the balance shown on your statement.

micks_address

Thanks, re balance transfer, do the card company clear the other card directly or do they transfer funds to your bank account and you clear the other card yourself?

Bojill wrote: »

Avantcard run that card for anpost, their rates are :

If your statement balance is €25 or less, it will be the total amount of the balance shown.
If your statement balance is more than €25, your minimum payment will be the greater amount of either: €25 or 1% of your statement balance before any default charges, processing fees, foreign currency fees and interest (to which we'll then add an amount equal to the default charges, processing fees, foreign currency fees and interest). Your minimum payment will not exceed the balance shown on your statement.

Bojill

micks_address wrote: »

Thanks, re balance transfer, do the card company clear the other card directly or do they transfer funds to your bank account and you clear the other card yourself?

Balance transfer goes to the card you nominate.
Money transfer goes to your account.

micks_address

Thanks,
So typically I'll give the new card company, the card number i want to clear. They clear and close or clear and I close after? I did see something about telling the new card company you are closing the old card to avoid paying stamp duty twice?

Bojill wrote: »

Balance transfer goes to the card you nominate.
Money transfer goes to your account.

Bojill

micks_address wrote: »

Thanks,
So typically I'll give the new card company, the card number i want to clear. They clear and close or clear and I close after? I did see something about telling the new card company you are closing the old card to avoid paying stamp duty twice?

You'll have to clise the original, do it before April, and get a letter from them saying you've paid.
Give the letter to your new card to avoid this year's tax.