credit cards

A question about : credit cards

Hi,

I've always paid my 2 credit cards off in full each month by direct debit. With extra outlay at the moment (moving house!) I wanted to take advantage of a Sainsburys 0% bt. Sainsburys end - no problem. Opposite end - not so easy! First time round my direct debit came out even though I'd transferred the balance in plenty of time. Thankfully I'd left the money in my account in case of problems so I didn't go overdrawn. With a bit of hassle, I managed to get a refund from the original card.

Second time around I've tried to allow more time for the transfer but the other company (Marbles) is umming and ahhing about timescales and lack of notification. I requested the bt as soon as my statement came through so don't see how I could have done it any faster!

Does anyone have any tips on balance transfers, particularly where payment is usually made in full by direct debit? I guess some people transfer the balance and don't spend any more on the old card but I intended to just syphon off the extra spending at 0% and then carry on with everyday spends as before.

Am I going about this all wrong? Thanks in advance!

Best answers:

• The trouble is, that the DD amount is set when the statement is issued, not when the payment is due. You're best off cancelling the direct debit instruction from your side (i.e. with your bank) as soon as you've transferred the balance.
  If you're going to keep using the old card, it's probably best to handle the payments manually - just make sure the sum of manual payments and BTs is equal to or greater than the balance that was showing on the statement.
  I think.
• Make sure you inform them of the cancellation of the direct debit too, you don't have to but it is best to keep them informed.