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  • FIRST POST
    • SharonIsabel
    • By SharonIsabel 4th Jan 18, 7:33 PM
    • 5Posts
    • 2Thanks
    SharonIsabel
    0% cards most likely to accept an 8k transfer?
    • #1
    • 4th Jan 18, 7:33 PM
    0% cards most likely to accept an 8k transfer? 4th Jan 18 at 7:33 PM
    Hi.

    I would like to transfer around 8k onto a 0%, no fee card. Is this realistic? I've read that the average transfer is 1200. Also, could you let me know roughly how long applications usually take?

    Thanks,
    Sharon
Page 1
    • zx81
    • By zx81 4th Jan 18, 7:39 PM
    • 14,933 Posts
    • 15,782 Thanks
    zx81
    • #2
    • 4th Jan 18, 7:39 PM
    • #2
    • 4th Jan 18, 7:39 PM
    The average transfer isn't 1200. That's the representative credit limit.

    Your limit will depend on your credit history, debts and income.

    If you're not referred, it's usually around 10 days to get the card and PIN.
    • SharonIsabel
    • By SharonIsabel 4th Jan 18, 7:44 PM
    • 5 Posts
    • 2 Thanks
    SharonIsabel
    • #3
    • 4th Jan 18, 7:44 PM
    • #3
    • 4th Jan 18, 7:44 PM
    Thanks for your reply. Could anyone suggest credit cards which are more likely to have a higher credit limit or doesn't it work like that??
    • zx81
    • By zx81 4th Jan 18, 7:47 PM
    • 14,933 Posts
    • 15,782 Thanks
    zx81
    • #4
    • 4th Jan 18, 7:47 PM
    • #4
    • 4th Jan 18, 7:47 PM
    There are some. Eg MBNA. But you may not fit their profile. Try a soft search.
    • Tractorman123
    • By Tractorman123 7th Jan 18, 10:00 PM
    • 26 Posts
    • 2 Thanks
    Tractorman123
    • #5
    • 7th Jan 18, 10:00 PM
    • #5
    • 7th Jan 18, 10:00 PM
    I'm in the same situation, I've got nearly 9000 on my Nationwide credit card (0% for 12mths) and its up at end of the month. I applied for the Virgin Money card at 0% balance transfer for 18mths (I think), but they only gave me 500 credit limit and which they already transferred 450 from the Nationwide, leaving me with 50 left on the card! I ended up phoning them and just paying the 450 off and cancelling the card as I thought there was no point in keeping it as I wasn't any better off!!
    • zx81
    • By zx81 8th Jan 18, 6:31 AM
    • 14,933 Posts
    • 15,782 Thanks
    zx81
    • #6
    • 8th Jan 18, 6:31 AM
    • #6
    • 8th Jan 18, 6:31 AM
    I ended up phoning them and just paying the 450 off and cancelling the card as I thought there was no point in keeping it as I wasn't any better off!!
    Originally posted by Tractorman123
    That was a poor financial decision.
    • Tractorman123
    • By Tractorman123 8th Jan 18, 11:25 PM
    • 26 Posts
    • 2 Thanks
    Tractorman123
    • #7
    • 8th Jan 18, 11:25 PM
    • #7
    • 8th Jan 18, 11:25 PM
    Could you explain to me why that would be please?
    I'll probably kick myself after you tell me...!!
    • zx81
    • By zx81 9th Jan 18, 5:41 AM
    • 14,933 Posts
    • 15,782 Thanks
    zx81
    • #8
    • 9th Jan 18, 5:41 AM
    • #8
    • 9th Jan 18, 5:41 AM
    Because you had put yourself in a position where you were going to save money by not paying interest on part of your debt, while you tackled the rest.

    If you had 450 available to pay off debts you should have cleared part of the debt that was about to incur interest, not the part that wasn't costing you anything.

    Hopefully you didn't also pay a fee for the BT.
    • vacheron
    • By vacheron 9th Jan 18, 7:42 AM
    • 759 Posts
    • 668 Thanks
    vacheron
    • #9
    • 9th Jan 18, 7:42 AM
    • #9
    • 9th Jan 18, 7:42 AM
    Hi.

    I would like to transfer around 8k onto a 0%, no fee card. Is this realistic? I've read that the average transfer is 1200. Also, could you let me know roughly how long applications usually take?

    Thanks,
    Sharon
    Originally posted by SharonIsabel
    I have received 0% Balance Transfer cards with 8K+ limits from Tesco, Barclaycard and Virgin Money with Sainsburys and MBNA giving the highest limits of my 0% purchase cards.

    Conversely, Halifax and Bank of Scotland (Same parent company) have historically offered me pathetic limits despite me being a current / savings account customer with them for years.

    However as our financial situations could are most likely completely different, we will probably fit the target profile of different companies so this info is probably meaningless.

    Also the order in which the cards were applied for will have also had an impact on the limits offered.

    So there are no guarantees at all I'm afraid.
    The rich buy assets.
    The poor only have expenses.
    The middle class buy liabilities they think are assets.
    Robert T. Kiyosaki
    • nic_c
    • By nic_c 9th Jan 18, 8:58 AM
    • 1,180 Posts
    • 668 Thanks
    nic_c
    Peoples experiences will vary, so I won't suggest ones, though try to see which offer soft searches to as whether you would get accepted and then see if they will give a likely limit.

    You also have to factor in different policies to BT promotions. Some will always opffer full length if accepted, others will accept you but may offer a shorter BT period.
    • scott_lithgows
    • By scott_lithgows 12th Jan 18, 10:41 PM
    • 1,350 Posts
    • 707 Thanks
    scott_lithgows
    Try for the creation card
    I have a deep burning indifference
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