Balance Transfer Advice?

DroMoFo

Hi all - sorry if this has already been covered but there is so much info on this site!

I'm after some advice on CC deals to transfer my balance to. I have about £4000 on my HSBC card and now that I have a better job I (hopefully) don't need to use it ever again, and want to ignore it. Therefore I want something that will save me money whilst I am paying it off. I applied for a Barclaycard a year ago and they accepted me yet would only allow a £800 limit.

Does anyone know of any more deals that would allow me to transfer more? Or should I apply for 3-4 cards? Or is there even another way that would be better?

Any help is appreciated.

Gotabiscuit

Egg and MBNA tend to be quite generous with their credit limits and have 0% offers on balance transfers.

Egg will allow you to transfer money straight into your bank account without charge.

MBNA do charge for balance transfers (BTs) but it should be free if you ask for a BT at the time of applying.

funkymonkey

yes for the first balance transfer i think it is free with mbna - they offered me the highest limit also.

DroMoFo

Thanks for your help guys, it looks as though MBNA could be the way forward.

Got A Biscuit, what do you mean by 'Egg will allow you to transfer money straight into your bank account'? Is this so you can take the money on your CC out as cash without an extra charge?

Gotabiscuit

Most card companies will only allow you to transfer balances between credit cards.

However, Egg will allow you to transfer a balance 'to pay off an overdraft' by putting money straight into your bank account - whether it's actually overdrawn or not.

Egg is known round these parts as a 'Super Balance Transfer' card. Have a look at Martin's definition here.