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    • soapy17
    • By soapy17 13th Jan 18, 5:43 PM
    • 4Posts
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    soapy17
    Balance Transfer Cards
    • #1
    • 13th Jan 18, 5:43 PM
    Balance Transfer Cards 13th Jan 18 at 5:43 PM
    Hello,

    I was wondering whether anyone could explain why companies offer balance transfer cards to me?

    I'm trying to help a friend out (who is crap at sorting out her finances). I've recently found out that she has a maxed out credit card which she has just been paying the interest on for over a year. I know she had looked at getting a balance transfer card in the past but I'm not sure if her application was rejected (because her credit rating is quite poor) or she never applied.

    Surely, someone who has a long history of just paying the interest is the kind of person you would want to snap up with a balance transfer? I would have thought it would be quite easy to get one in her situation.

    Does anyone have any tips on what the best options are in this situation?
Page 1
    • zx81
    • By zx81 13th Jan 18, 6:28 PM
    • 14,872 Posts
    • 15,699 Thanks
    zx81
    • #2
    • 13th Jan 18, 6:28 PM
    • #2
    • 13th Jan 18, 6:28 PM
    Surely, someone who has a long history of just paying the interest is the kind of person you would want to snap up with a balance transfer?
    Originally posted by soapy17
    Surely not.

    If you mean she has only been making minimum payments on a maxed out card, then lenders will be hesitant to give her more credit.

    She needs to get away from her limit and reduce her debt.
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