Transfer money from your Barclay credit card to your current account with 0% interest rate!
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Transfer money from your Barclay credit card to your current account with 0% interest rate!

13
Found 19th Apr 2015
Not sure if everyone here knows about this, but it seems that you can transfer money from your Barclaycard credit account to your current account. I don't think other credit card companies offer such feature. As the screenshot in comment 1 shows, it's 0% interest rate, but 1.9% or £1.90 transfer fee applies, Minimum transfer is £100. I'm not going to use it myself, but thought someone out there might find it useful ...

13 Comments

Original Poster

http://s3.postimg.org/bf81wvdmr/Screen_Shot_2015_04_19_at_21_58_38.png

this is only available if you have the offer on your account. it's not there by default for everyone

Original Poster

ullmanio

this is only available if you have the offer on your account. it's not … this is only available if you have the offer on your account. it's not there by default for everyone


Ah, OK. Sorry I didn't know they do personalised offers!

Why would I want to transfer money from my Barclaycard Credit Account to your current account? What's in it for me?

I take it it would be treated as a cash advance from day 1 at the normal exorbitent interest rates ?

If it's 0% you transfer all your credit card credit to a cash account. And then put it in a high interest account to make free money.

Original Poster

biggrub

Why would I want to transfer money from my Barclaycard Credit Account to … Why would I want to transfer money from my Barclaycard Credit Account to your current account? What's in it for me?


There's nothing in it for ME, but I shared as someone might find it useful, instead of withdrawing cash from a credit account for example...

Virgin and mbna do these offers too. Great to clear debts you can't do a balance transfer on or for a cheap loan.

Yes as Ullmanio says this is by invitation only from barclays but in answer to biggrub and rogparki's question about how relevant it is? for someone who has a large bill i.e. car insurance or similar it is handy n can be cheaper to pay it all in one go from the barclaycard with only a small charge of 1.9,% than paying by Direct debit every month incurring more costs. You normally get a MINIMUM of six months to pay back any money used in this way although depending on amount transferred and time to pay you will have to pay back more than the minimum payment due, I have done this a couple of times and it has worked well for me

REMEMBER _ ALWAYS PAY BACK AT LEAST THE MINIMUM PAYMENT DUE IN ORDER TO AVOID CHARGES.

HOPE THIS HELPS SOMEONE

Not a freebie - 1.9% fee - it is a good deal though - will be using it myself.
Edited by: "shoppermaff" 21st Apr 2015

Comment

googleboogle

If it's 0% you transfer all your credit card credit to a cash account. … If it's 0% you transfer all your credit card credit to a cash account. And then put it in a high interest account to make free money.


You pay 1.9% it is NOT interest free!

If you read and understand. You patn1.9% on the initial transfer. Then it's 0% a month.

Sooo if you put it in a 5% a month account over the duration of the 0% period you make the initial 1.9% back and a lot more.

It's easy money but can mess with your credit history.

I know how it all works but does anyone know on what basis to barclays offer you this? What do you need to qualify for this offer?
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