Problem - need to balance transfer, pls help.

ti1980

I was considering doing this with one of my cards but after seeing some of these recent posts won't be putting a card into a +ve balance.

My problem is I have one card that is empty and another that I need to clear as the promotional rate will be going back up to standard next month. Sounds like a simple balance transfer is in order here, the problem is that is not possible as they are cards within the same banking group and they won't allow the (direct) transfer.

I can't apply for an SBT card (or any card) as with my credit record I would get rejected and in fact was rejected for an Egg card and I already have an MBNA card.

Just realised I'm going to have the same problem again in March.

Thanks in advance for any suggestions.

charlie12

Assuming you're already focusing on paying off the balance ASAP, I'd ask the card provider for an extension. If they refuse, you could try asking them for an interest rate reduction after the promotional rate has ended.

If you know anyone close (who trusts you ) who can take on the balance onto one of their unused cards (with a different provider) temporarily, then you could "bounce" back the balance onto your existing card(s), assuming your existing cards have a reasonable BT rate.

Rafter

Has the new card got a purchase offer as well as a bt offer?

In which case you could put every last bit of expenditure on the new card so you can then pay off the interest bearing card?

R.

ti1980

I don't have a new card, the last card I opened was about 18 months ago.
I had been focussed on getting my cards down as they were all pretty much up to their limits. I cleared one which had £1500 on it. The limit was £2000.

My other cards have BTs on them as I have shuffled as much as I can.
One card is on 2.9% for 6 months, one is 6.9% and the other is 7.9%.