Financial numpty questions

[Davemonkey]

Hey guys - didn't see a thread for this and I thought the hive mind might be able to help me with a simple question that if I went to bank with I'd walk away poorer and probably with the wrong product.

The family has one credit card that gets used for a variety of things but I am also using for work expenses. I always get these back (mostly) but I don't like the two being mixed up. So I can manage things better I am thinking of picking up a new credit card and hopefully using a balance transfer period so I can transfer some personal spending expenses onto the new card as well to better manage those (i.e I pay off my own video gaming addiction rather than the family).

Does anyone with experience of credit transfers know if I can transfer the balance without closing the original credit card, because that would be a right pain in the arse to go and change all of those services that it is presently registered with.

 

[pulpdriver]

Hey guys - didn't see a thread for this and I thought the hive mind might be able to help me with a simple question that if I went to bank with I'd walk away poorer and probably with the wrong product.

The family has one credit card that gets used for a variety of things but I am also using for work expenses. I always get these back (mostly) but I don't like the two being mixed up. So I can manage things better I am thinking of picking up a new credit card and hopefully using a balance transfer period so I can transfer some personal spending expenses onto the new card as well to better manage those (i.e I pay off my own video gaming addiction rather than the family).

Does anyone with experience of credit transfers know if I can transfer the balance without closing the original credit card, because that would be a right pain in the arse to go and change all of those services that it is presently registered with.

Balance transfers won't close any existing credit accounts. They'll just make a BPay payment to your nominated existing accounts for the amount you've chosen/qualified for and then add that amount to your new card under the agreed interest rate along with any start up fees.

 

[Lace Out]

Hey guys - didn't see a thread for this and I thought the hive mind might be able to help me with a simple question that if I went to bank with I'd walk away poorer and probably with the wrong product.

The family has one credit card that gets used for a variety of things but I am also using for work expenses. I always get these back (mostly) but I don't like the two being mixed up. So I can manage things better I am thinking of picking up a new credit card and hopefully using a balance transfer period so I can transfer some personal spending expenses onto the new card as well to better manage those (i.e I pay off my own video gaming addiction rather than the family).

Does anyone with experience of credit transfers know if I can transfer the balance without closing the original credit card, because that would be a right pain in the arse to go and change all of those services that it is presently registered with.

It won't close your original card mate,you'd have to organise that seperately.

 

[Davemonkey]

Balance transfers won't close any existing credit accounts. They'll just make a BPay payment to your nominated existing accounts for the amount you've chosen/qualified for and then add that amount to your new card under the agreed interest rate along with any start up fees.

Thanks pulpdriver. I suspected that might be the case but wanted to make sure. Cheers.

 

[ZoBlitz]

Hey guys - didn't see a thread for this and I thought the hive mind might be able to help me with a simple question that if I went to bank with I'd walk away poorer and probably with the wrong product.

The family has one credit card that gets used for a variety of things but I am also using for work expenses. I always get these back (mostly) but I don't like the two being mixed up. So I can manage things better I am thinking of picking up a new credit card and hopefully using a balance transfer period so I can transfer some personal spending expenses onto the new card as well to better manage those (i.e I pay off my own video gaming addiction rather than the family).

Does anyone with experience of credit transfers know if I can transfer the balance without closing the original credit card, because that would be a right pain in the arse to go and change all of those services that it is presently registered with.

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