Unoffical Existing Customer Balance Transfers

Margaret_Millne · 11 December 2003 at 8:31PM

Hi, MM again

Hubby just got an email offering 5.9% for 6 months on his Egg for any transfers done before the end of the year - so with the credit limit he has that wipes out my Amex at 9.9% and our overdraft - now what else can I find to cut the rate on. Need to consult the spreadsheet, but have had a very busy day at work so tomorrow will have to do for that.

System · 9 January 2004 at 8:39PM

i have a trustcard & i recently had a call from a lloydstsb sales rep asking why i had recently paid of the balance on my card which was just over £1200.

he then offered me a balance transfer rate of 1.9% for the lifetime of any balances i transfered over to my trustcard, i declined as i only have a nominal amount on another card. so he then offered me an upgrade to the lloydstsb platinum card!

which just goes to show how low these credit card companies will go to get our custom, putting us firmly in the driving seat.

hth

johnw5el · 9 January 2004 at 11:25PM

author=MSE Martin link=board=Questions;num=1058699620;start=0#0 date=07/20/03 at 12:13:40]The following thread is for people to post what Balance transfer offers they have actually !been given by their existing credit card companies. !To see the context of this thread please read my article 'the Credit Card Shuffle' by clicking

http://www.moneysavingexpert.com/cards/cut-credit-card-interest

Martin

IMPORTANT NOTE: Please remember this is about EXISTING customer balance transfers, it is not the 'new cardholder offers. !What would be helpful is if you noted when you got the card, and how long you'd had it when they gave you asked for a new balance transfer deal.

I have been getting 0% balance transfers for the last 3 years and have paid nominal interest on balances of £4000-5000 in that period. Initially this was by signing up with new cards but recently have found that MBNA are always gagging to take the loan back at 0%. You only have to transfer the money somewhere for a week or ten days. As soon as they spot your account at zero they seem to phone up and dont seem to care that the debt was theres earlier!!!! They are also able to transfer cash to your current account at 0% up to the credit limit for 6 months, money you can put on deposit at 4%.

AJC_3 · 19 January 2004 at 1:12PM

This one's about unofficial BTs and affinity cards.

I called the Co-Operative Bank's Visa Advantage card line to cancel my existing Gold card. They leapt in with a new Platinum card offer (BT's @ 0% for 6 months). No real surprise there, though I haven't seen it advertised anywhere for existing customers.

What really caught my eye was that the offer also applies to their Platinum Affinity card.

You choose the charity from their (fairly extensive) list of ethical partners. (I chose Oxfam).

The Co-op then donates £10 on account opening + £2.50 if the card is still active after 6 months + 25p for every £100 'spent' on the card. Thinking of how you eager beavers hate to spend, I queried what this meant - and was told BTs count.

So if your BT is say, £5000, the charity gets £10 + 50x25p = £12.50 now plus £2.50 in six months. Small beer to us in the UK - but £25 goes a lot further in the developing world!

Their number is 0845 600 6000 (I can't find the offer on their website).

AJC

caileag · 21 January 2004 at 2:28PM

I received my replacement Halifax platinum card today (old one had expired) and happened to read through the T&C that came with it - I was bored over breakfast!

Anyway, way down in the small print is says that balance transfers made between 01/04/04 and 31/08/04 will be charged at 0% until 31/08/04, so that is 5 months interest free.

I presume that I will be notified nearer the time (statement insert or whatever) but it is good to have advance warning.

These seem to be standard T&C, so I take it this is not an offer specific to me. Might be worth asking!

M_Thomson · 24 January 2004 at 3:30AM

i have a trustcard & i recently had a call from a lloydstsb sales rep asking why i had recently paid of the balance on my card which was just over £1200.

he then offered me a balance transfer rate of 1.9% for the lifetime of any balances i transfered over to my trustcard, i declined

hth

I would have said yes to that as apart from the Barclaycard 0% deal with £1 minumum spend that is the best life of balance transfer deal I have heard of.

zcaprd7 · 27 January 2004 at 7:34AM

One slight concern - when they offer you a "platinum card" upgrade I hope they made you aware of any annual fees that are usually associated with their "premium" cards?

aagoren · 31 January 2004 at 2:10AM

9 months for TB and purchases from Halifax
http://www.fool.co.uk/cards/cards.htm?ref=emailweeklyhtml
I applied for that and got quick response (accepted ;D)
should get the card in few days.

I'm going to transfer the balance from MBNA as pay there 3.9%.
from previous experience with MBNA, they will call and ofer to tranfer back.

i applied few weeks ago for MINT and got leeter says the decline as I have RBS.
I asked what will be the rate for transfer balance to the existing RBS card and told 5.9%. so i asked them to close my card as I'll be unable to apply for any new MINT card while i have RBS one.

kinster_2 · 17 February 2004 at 12:53PM

what about the easycard?

http://www.easymoneycreditcard.com/marketing/splashpage_0002/index.html?mktchn=popunder&mkt=02K8KADU5L

jmstewart · 24 February 2004 at 4:52PM

After listening to you on Jeremy Vine's programme I called Barclaycard and asked about transferring my balance from my Natwest Visa. They offered me 0% with a minimum spend of £50 per month or 0.5% on a life of balance transfer. I took the life of balance option.

Unoffical Existing Customer Balance Transfers

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