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0% Credit Credit that can transfer into current accounts

fase
fase Posts: 1 Newbie
in Credit cards
Hi,

Just wondering if anyone knows of any credit cards which can transfer the balance into your own current account???

Cheers

Comments

  • NickX
    NickX Posts: 3,046 Forumite
    Cards with SBT (Super Balance Transfer) facility allow you to transfer funds direct to your Bank Account.

    Only a few rather special cards allow Super Balances Transfers. Thes include Egg, Egg Money, Post Office Card and any card administered by MBNA (including the Virgin range of cards).

    In addition MINT periodically issue Credit Card Cheques that can be paid into a Bank Account at Balance Transfer rates. However this is the least satisfactory option becuase the cheques cannot be requested and, unless they are already in your possession, you don't know when they are going to drop through the letterbox.
  • pault123
    pault123 Posts: 1,111 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    virgin offer the best rate 15 months 0%. Fee for transferring into current account is 2.98% (mbna charge 3.25% i think)

    so Virgin would be best option.
  • dylanuk
    dylanuk Posts: 516 Forumite
    MBNA charge 3%, so only a smidgen more than Virgin.

    Virgin is definitely the better deal though, it offers a longer 0% period and a slightly cheaper transfer fee.

    Egg Money is no longer as competitive as it used to be, it's apparently had many of it's interest rates and fees hiked up.

    There's a handy article on transferring money to a current account here: http://www.credit-card-comparison-online.co.uk/faq/0-balance-transfer/transfer-to-current-account.html
  • dylanuk
    dylanuk Posts: 516 Forumite
    Quick head's up... MBNA have just changed their offers:

    Platinum Plus - no longer offers 0% on current account transfers.
    Platinum Rewards - still offer 0% on current account transfers until 1st Oct 2009 (13 months).

    Virgin is still offering 0% on current account transfers for 15 months.
  • annie_d
    annie_d Posts: 933 Forumite
    yep--i just jumped aboard the Virgin train
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    dylanuk wrote: »
    Platinum Plus - no longer offers 0% on current account transfers.
    Hmmm...I wonder if they still do (during the activation call, as was always the case previously), but they've just decided to stop the advertising of them?...maybe as some form of (inverse) marketing initiative. After all, the open advertising of 0% current account (money) transfers is a 'fairly' (within the last year?) recent thing with MBNA isn't it?
    Platinum Rewards - still offer 0% on current account transfers until 1st Oct 2009 (13 months).
    Since MBNA offers run until your statement date, it should still be possible to eek out 14 months on this card by selecting a 28th of the month statement date (ie you'd then get 0% until 28th October 2009).
  • chartreuse_2
    chartreuse_2 Posts: 287 Forumite
    NickX wrote: »
    Cards with SBT (Super Balance Transfer) facility allow you to transfer funds direct to your Bank Account.

    Only a few rather special cards allow Super Balances Transfers. Thes include Egg, Egg Money, Post Office Card and any card administered by MBNA (including the Virgin range of cards).

    Are you sure that the Post Office card is SBT? I've just had a look and it seems to say CCs or Store Cards only.
  • NickX
    NickX Posts: 3,046 Forumite
    chartreuse wrote: »
    Are you sure that the Post Office card is SBT? I've just had a look and it seems to say CCs or Store Cards only.

    Well I've never had a Post Office card so in all honesty I am not 100% sure, but it is certainly marked as a SBT card on the stoozing site, www.stoozing.com and I have never known them to be wrong.

    Very recently there has been a report that MBNA may be removing SBT capability on some of their cards, so do double check with the provider if there is any doubt.
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    NickX wrote: »
    Well I've never had a Post Office card so in all honesty I am not 100% sure, but it is certainly marked as a SBT card on the stoozing site, www.stoozing.com and I have never known them to be wrong.
    From http://www.postoffice.co.uk/portal/po/jump1?catId=19400177&mediaId=34100665&campaignid=HMICL3 click "apply now", then "view T&C's", then look up their definition of a balance transfer in section 1. ;)
  • chartreuse_2
    chartreuse_2 Posts: 287 Forumite
    YorkshireBoy wrote: »
    From http://www.postoffice.co.uk/portal/po/jump1?catId=19400177&mediaId=34100665&campaignid=HMICL3 click "apply now", then "view T&C's", then look up their definition of a balance transfer in section 1. ;)
    Groovy! Thanks you guys! :)
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