Can a finance person help me make sense of this

Applying for a ‘0% balance transfer credit card’ which I’ve been accepted for.

My intention is to transfer a couple of grand to my HSBC credit card (which I’ll then make a money transfer from to my bank account to pay off my overdraft but that bits not important).

My understanding is that I apply for a balance transfer credit card, specify that I want 2 grand paid from this card into my HSBC credit card.

So when I get to the ‘Want to do a balance transfer?’ part of the application why does it say this, implying that I’d be transferring it FROM my HSBC credit card into the one I’m applying for, not the other way around?


No, that’s right, if worded a bit confusingly. When they say money I assume they mean a balance, it’s just a mix of terminology, which you’d think they would try to avoid.

Really hoped this would be a link to the Dril tweet


Guess money can be a minus

Yeah, I’m not in the credit card business (thank god) but using wording and jargon to make a negative sound like a positive is pretty common!
Money in that wording I guess refers to an existing monetary debt

Thanks, I’ve just had it explained to me further. I had the whole concept in reverse in my head and couldnt get it.

1 Like

It’s essentially making the slightly unpleasant bet that, by tempting you to move an existing debt over to their card from another card by not charging you interest on that debt, they will profit 2 years from now because they don’t believe you’ll clear that debt before then.

however there’s not usually anything stopping you from transferring the debt again to another card with a 0% balance transfer offer, if you need to and are organised enough to do it