Go To Mortgage 101

Return To Group Index

From: Alex 
Newsgroups: uk.finance
Subject: Re: 0% deal - time for a second
Date: 10 Jan 2005 20:35:16 GMT

Without a hint of irony, "John Smith"
 astounded uk.finance on 10 Jan
2005 by announcing: 

> Hi,
> 
> Last Summer I took out a 0% deal purchase deal with Sainsburys Bank. It
> ends in March and I was wondering if I can now go and get another 0%
> balance transfer deal with a different card vendor, transfer the
> outstanding balance from the Sainsburys card to it and get X more months
> free interest?

Yes.

> Are there any pitfalls in doing this?

Yes.  Do it too much (transferring a couple every month or two for instance) 
and you'll be less likely to be accepted.  Also beware those issuers who are 
now charging 2% on balance transfers (Barclaycard, MBNA, Mint etc.).  In 
fact, beware of MBNA full stop ;-)

In your case (given the info above), however, there shouldn't be a problem.