Can I do a Balance transfer to get some cash?

planetdannii

Hi there all:D ,

I wonder if anyone has done this before.....

I have £760 on a Barclaycard visa & I have just transfered £1000 from a Capitalone platinum mastercard onto it.
Now am I correct in thinking I will now be in credit by £240 with my barclaycard,,,,can I then ask for this? and would they then send me a cheque?......if this works could I transfer more?,,,,, I would really like to pay my parents back the £2000 I owe them.

There is a 2% charge on BT's but as I am overseas alot the % till Jan 2007 is perfect for me....please help

Thank you so much
This site has helped me so much thanx martin :money: & everyone who posts :T :A :beer: :j

grumbler

planetdannii wrote:

Now am I correct in thinking I will now be in credit by £240 with my barclaycard,,,,

Yes

can I then ask for this?

You can ask

and would they then send me a cheque?......

Maybe. Or maybe they will refuse and will offer to send money back to C1

if this works could I transfer more?,,,,,

I would not recommend this: Barclaycard - absolute jokers

planetdannii

O i see, hmmmmm, I wonder how I can get £2000 into my parents account with littlest possible interest,,,any ideas anyone,,,apart from robbing the bank of course. I have been offered a 2.9% till may '06 but thats not really good enough.
My capitalone is 0% till Jan 07 with a 2% charge which is more like it arghhh. I just want everything and then some dont I....
Cheers

YorkshireBoy

Egg Money could be a useful card for you.

ti1980

If you can't get 0% then 2.9% sounds like a pretty good deal to me. If it's fee free then I would go for it.

I don't know what Barclaycard's policy is with credit card accounts that are in credit, they could say they will send the money back to Capital One or they could agree to send it to your bank account or send you a cheque.

Maybe someone could clarify that for you.

YorkshireBoy

ti1980 wrote:

I don't know what Barclaycard's policy is with credit card accounts that are in credit, they could say they will send the money back to Capital One or they could agree to send it to your bank account or send you a cheque.

Maybe someone could clarify that for you.

Nothing in the T&C's regarding +ve balances, but plenty of posts recently about problems - especially grumbler's linked thread above.

I wouldn't put the Barclaycard into a +ve balance personally.

planetdannii

Thanx for the help everyone......egg money??, ok iv checked out the website and it looks a great idea, can I BT from my Capitalone onto this?..... I had a look at the FAQ's but looks like I have to use a debit card to put it in credit which is my problem all over again....am I correct?
thanx

grumbler

planetdannii wrote:

Thanx for the help everyone......egg money??, ok iv checked out the website and it looks a great idea, can I BT from my Capitalone onto this?..... I had a look at the FAQ's but looks like I have to use a debit card to put it in credit which is my problem all over again....

What Q&A exactly?
1. Make BT from Egg Money to C1. This means that C1 pay money to your Egg account.

http://www.stoozing.com/full.htm

2. Withdraw money from Egg.

How do I make a withdrawal?
You can make cash withdrawals from cash machines that accept MasterCard. You can withdraw a maximum of Ј500 per day. It’s worth noting that when you purchase travellers' cheques, these will register as a cash advance and will affect the amount of cash you can withdraw that day. We will not charge you a fee or interest for cash withdrawals when you have a positive balance. However, if a withdrawal gives you a negative balance you will be charged interest on the negative amount, but we will not charge you a fee.

You can also make a withdrawal by BACS (four day electronic transfer), to do this, please call us on 08451 233 233 and we'll arrange it for you.