Balance Transfer Question

gavingovinden

Hi, I've been on the Sainsbury's Visa card for a while now and my 12 mth interest free period expires on 21st December 2005. I've applied for two cards, the Natwest one and the LLoyds TSB to balance transfer the outstanding amount but was wondering if this will get done in time. What do you guys think? Will I make it?

sharon1953

You should be ok, NatWest took about 3 weeks, Lloyds said "no". I notice the NatWest is now charging a BT fee if you aren't already an account holder, and the RBS seems to be doing the same!

Buzzbee

I applied for a NatWest card on line last month,was successful and received the card 2 weeks later and have since transferred 2 BT over to it.I did not pay a BT fee.

dangerous

i've just done a balance transfer of £3000 using my new barclaycard to pay off my old Halifax one card, which had a debt of £1500 on it. rang halifax to ask for the credit of £1500 to be paid to me by cheque (so that i could bank it and earn interest ) ) and they refused saying that it would have to be returned to barclaycard! is this correct and can they do it?

can any1 help please

thanks

YorkshireBoy

dangerous wrote:

...rang halifax to ask for the credit of £1500 to be paid to me by cheque (so that i could bank it and earn interest ) ) and they refused saying that it would have to be returned to barclaycard! is this correct and can they do it?

A quick check of your T&C's would have confirmed...

"7.6 You must not make transfer funds from another credit or store card to your account that would leave a credit balance on your account. We may return any funds that exceed the balance owing on your account to the account from which the money has been sent."

dangerous

how could i miss it!! thanks for this, but is there any way around this?

YorkshireBoy wrote:

A quick check of your T&C's would have confirmed...

"7.6 You must not make transfer funds from another credit or store card to your account that would leave a credit balance on your account. We may return any funds that exceed the balance owing on your account to the account from which the money has been sent."

YorkshireBoy

dangerous wrote:

how could i miss it!! thanks for this, but is there any way around this?

I'm not aware of one, but look on the bright side - you didn't pay Barclaycard a (non-refundable?) BT fee for the full £3,000. Or did you?

dangerous

No - fortunately i used the loophole!!