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    • Hamsto
    • By Hamsto 27th Jul 16, 11:24 AM
    • 1 Posts
    • 0 Thanks
    Hamsto
    0% credit card not been allocated enough credit to pay off loan
    Hi,

    I have a settlement figure from a loan of about £5500, I want to shift this debt from the loan to a 0% credit card. However the credit card has given me short of the amount at £3700.

    What would be best to do get another 0% credit card for the remainder of the amount, wary this may damage my credit score?

    If I don't pay off the figure in full and pay off the £3700 I will just get a shorter remainder period and still be paying the loan amount of £150 a month. What would be my best option?

    Thanks
    • zx81
    • By zx81 27th Jul 16, 11:28 AM
    • 12,714 Posts
    • 12,958 Thanks
    zx81
    If you can get another 0% card, then do that.
    • R_Ling
    • By R_Ling 11th Oct 16, 2:06 PM
    • 1 Posts
    • 0 Thanks
    R_Ling
    Money transfer - can my partner do it for me?
    Hi - was just after some advice.
    I have been declined whilst applying for a money transfer credit card. I was wondering if my partner could apply for one, transfer the cash to me and I pay her back over the duration of the 0%. Is there anything wrong with that?
    • zx81
    • By zx81 11th Oct 16, 2:17 PM
    • 12,714 Posts
    • 12,958 Thanks
    zx81
    Only for your partner if you change your mind about paying her back.
    • Bossworld
    • By Bossworld 11th Oct 16, 9:39 PM
    • 230 Posts
    • 147 Thanks
    Bossworld
    Virgin Money 32 month money transfer card
    Just taken this out for approx £6k, over 32 months.

    I toggled the option for them to set up a direct debit for the minimum.

    Now, I was planning on paying back £200 a month, which squares it off by 32 months. However, I could do with a bit of guidance.

    I have a share save type scheme that will pay a minimum of £5k in less than 2 years time.

    I reckon I can treat this Virgin Money card as almost an advance on that share save money, and in doing so, only pay back around £60 a month and pay the complete balance once the sharesave money comes back in?

    If that's going to work, I see from another site that the initial fee on the card (1.69% is added onto the balance). Will the minimum payment DD take this into account, or should I pay this 1.69% off straight away separately?

    many thanks
    • YorkshireBoy
    • By YorkshireBoy 11th Oct 16, 10:11 PM
    • 29,332 Posts
    • 17,103 Thanks
    YorkshireBoy
    If that's going to work, I see from another site that the initial fee on the card (1.69% is added onto the balance). Will the minimum payment DD take this into account, or should I pay this 1.69% off straight away separately?
    Originally posted by Bossworld
    Yes it will.

    A word of warning...be sure to check your first statement to ensure it states the payment will be collected by DD. If it doesn't, pay by other means and check the second statement for the same message. Missing a payment will mean you lose the 0% rate and also waste over £100 in fees!
    • Skibanger
    • By Skibanger 12th Dec 16, 4:19 PM
    • 3 Posts
    • 0 Thanks
    Skibanger
    Does anyone know if I use my offer on a nuba card for 40 months 0%.... then move that money to a balance transfer card straight away... Does the offer still stand on the nuba card to repeat this??
    • Skibanger
    • By Skibanger 12th Dec 16, 4:46 PM
    • 3 Posts
    • 0 Thanks
    Skibanger
    Does anyone know if I use my offer on a nuba card for 40 months 0%.... then move that money to a balance transfer card straight away... Does the offer still stand on the nuba card to repeat this??
    • MallyGirl
    • By MallyGirl 12th Dec 16, 5:02 PM
    • 1,829 Posts
    • 6,189 Thanks
    MallyGirl
    you can make multiple transfers within the window offered in the T&Cs - usually applies to first 60 or 90 days
    • Skibanger
    • By Skibanger 12th Dec 16, 5:07 PM
    • 3 Posts
    • 0 Thanks
    Skibanger
    Does anyone know if I use my offer on a nuba card for 40 months 0%.... then move that money to a balance transfer card straight away... Does the offer still stand on the nuba card to repeat this??
    • campion94
    • By campion94 11th Jan 17, 8:59 AM
    • 2 Posts
    • 0 Thanks
    campion94
    Hi, I am a newbie


    I wanted to ask for people's thoughts...
    I over pay on my dear mum's mortgage, so between us we pay about £400 per month, Mum's mortagae is now down to £14,500 with 5 years remaining


    I was thinking should I take advanatage of a super balance trasnfer which I understand to be where I can have money transfered into my account and pay of as much as I can on mums mortage, I say as much as I can as I know they may not give me the full £14,500 straight off


    then I would get only 3 years


    but lets says we pay of £9k I could then balance transfer a much smaller amount in 3 years time and accepy for the balance transfer fee I wouldn't be paying interest


    I think that is what I am thinking


    Thoughts? Anyone?


    Thank you in advance
    • MallyGirl
    • By MallyGirl 11th Jan 17, 11:03 AM
    • 1,829 Posts
    • 6,189 Thanks
    MallyGirl
    is the interest rate on your Mum's mortgage much higher than the fee for the money transfer (MT)?
    Will you be able to pay off the £9k (your guess) before the end of the 0% deal - many MT deals are shorter than balance transfer deals

    if yes then it would be a reasonable thing to do.
    • campion94
    • By campion94 11th Jan 17, 8:28 PM
    • 2 Posts
    • 0 Thanks
    campion94
    Hi Mallygirl
    ThanQ for responding
    The mortgage rate is 2.25% variable base rate

    And yes we'd pay about 9k

    ThanQ I will give it a couple nights sleep and probably make an application, see how much I can get for how long
    • Superscrooge
    • By Superscrooge 12th Jan 17, 1:59 AM
    • 848 Posts
    • 589 Thanks
    Superscrooge
    Make sure you can definitely pay off the CC before the end of the 0% deal.

    There are many posts on the forum from those that assumed they would be able to roll over their debts onto another 0% deal and got caught out.
    • mgeraghty
    • By mgeraghty 13th Aug 17, 4:51 PM
    • 1 Posts
    • 0 Thanks
    mgeraghty
    Hi All, This is my first post, trying to get used to this site and understanding how it works, so apologies if this is a repeat question, or if it doesn't send properly.

    So I need to clear a £4.5k debt.
    Really keen to use the money transfer cards, seems like a good option that my current bank has to offer (hallifax, 9.9% APR).
    I have been 90% approved for a Virgin card.

    My question is, how do I know how much of a credit limit I will get, or will that just depend on when I go through with the application for the card?

    Many Thanks in Advance
    • Nebulous2
    • By Nebulous2 13th Aug 17, 7:02 PM
    • 1,522 Posts
    • 924 Thanks
    Nebulous2
    Hi All, This is my first post, trying to get used to this site and understanding how it works, so apologies if this is a repeat question, or if it doesn't send properly.

    So I need to clear a £4.5k debt.
    Really keen to use the money transfer cards, seems like a good option that my current bank has to offer (hallifax, 9.9% APR).
    I have been 90% approved for a Virgin card.

    My question is, how do I know how much of a credit limit I will get, or will that just depend on when I go through with the application for the card?

    Many Thanks in Advance
    Originally posted by mgeraghty
    It depends on how the lender rates you based on the information you provide and the history they get from the CRA. I found Virgin to be generous with limits, as were MBNA.
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