Balance transfers - have you done one before?


#1

There are lots of balance transfer offers in the market at the moment - I’ve never done one  personally so would be interested to hear from anyone who has? Was it useful? How’d you go, what was good and what was bad? If you have any tips for first time balance transferers? 


#2

The big tip I’d give anyone making a balance transfer, is that if they intend to continue using their card, then they should get a 2nd credit card.  When you make a payment onto you card, you payment clears any fees & interest first, and then attacks the outstanding balance, beginning with the amount that has the lowest interest rate first.
If you have a card with a balance transfer on it, this is where you payments go. If you then go and make further purchases or cash advances, these will sit there & gain interest until you clear the balance transfer (or it reverts to the normal interest rate).

If you get a 2nd card, use it for purchases, and pay off each statement in full , you won’t be paying any interest at all