Credit Card Balance Transfer Discussion Area 2

garyf_2

To weatherwax and others regarding calling your current cc co to transfer to another, would they offer you 0% to keep you?
I transferred from MBNA to Halifax last month without consulting MBNA. I called MBNA to close the account after the transfer, MBNA advised me to hold on to the card and when the Halifax 0% period ran out, call them aagin and they will give me another 0% period. They have since phoned me to offer me 9 months 0% on purchases. I could easily imagine if I had phoned and asked for an extension of my 6 months 0% BT instead of moving it to Halifax, they would have agreed.

Also, just had this through today on e mail: Texaco are offering 3.9% for life of balance on BT's. Go to: http://www.texacocard.co.uk/apply_now/index.html

lyeping

Hey Everyone ;D

My experiment worked! ::) About a week ago, I've applied online for 3 credit cards, MBNA, Egg and Texaco at the same seating.

Egg(credit limit not known yet) came back pretty quick with documents to sign, followed by Texaco (GBP 500 )
and today.......drum roll please...!!

MBNA, GBP 2,000 SBT to current account ;D Got the 0% bt deal.

So I guess the lesson is if you online apply for numerous cards at the same time, chances are you'll get it because the credit scoring system have yet to register any new or recent cards. But if you staggered it over a duration of weeks, chances are the system will show that you've recently had a new card. I now have to wait for 6 months before I do the blitz again. Thanks for the advice Ziggy.

weatherwax_2

To weatherwax and others regarding calling your current cc co to transfer to another, would they offer you 0% to keep you?

Good point, garyf - I'll give it a try!

Weatherwax ;D

Angela

Glastonian
RE:- reply 201
I phoned MBNA and no luck with them reconsidering.
She said I would have to wait 6 months and apply again.
Any ideas where else I could try?

alanjarrett

As a newbie I felt duty bound to read through the whole of this thread before posting anything. I found it quite cluttered with questions that are already answered in Martin's articles - do take the time to read and re-read those, your time and effort will be rewarded in the long run and you will also gain an understanding of the jargon used in these forums.

I was looking for a strategy re-BTs and SBTs - how often to wait and when to retry. I found good advice from Galstonian (many thanks) and realise I have been quite conservative. I already have £11,500 SBT'd from Egg and MBNA to my fd offset mortgage at no charge. I applied to MINT today and got an initial agreement online for another £3500!

On the subject of complexity and non-understanding the more you read the more you understand, but be aware of Martin's advice - these cc shuffles are not for anyone who is not disciplined and not willing to put in the admin effort required to avoid charges.

derekamr

I have an MBNA card with 0% BT and had not used all my credit,so used a credit card cheque and got stung for a £35 fee.So BEWARE of credit card cheques with MBNA.I also have a Halifax One card and forgot the first repayment and was charged £30 so always set up an immediate DIRECT DEBIT right away.Recently received a PARNERSHIP John Lewis/Waitrose card,set up a SBT immediately over the phone.

Seth_Dawes

Hello! Quick reply.. I am wanting to put some feelers out and get any up to date info from anyone...

I currently owe £2400 on my Egg card, but want to do a BT. However I dont have another card that I can use at the moment so I will have to apply for a card that will give me 0% on balance transfers.

The questions I have are 1) Who gives the best balances (I would like to transfer the whole amount!)
2) Do they give cards to people who's credit rating a few years ago wasnt that good?!?
3) I am also out of work at the moment, but should be getting a well paid job shortly, I assume I should wait until I have a job before applying!!

I dont want to make lots of applications to either get turned down or a rubbish balance. Has anyone applied recently?? I also read in an article on here that you can request quotes from CC companies prior to applying (thus affecting your credrat), has anyone been succesful in doing this?

Any replies would be very welcome and all help appreciated lots!!!

Seth

chrisssy_2

Hi - I have put this same message on another thread but think this might be the right one. I am trying to help my son reduce the interest he is paying on very large credit card debts. He has a poor credit rating and thinks he won't be accepted for a 0% credit card. Can I take out a 0% card but transfer his balances??

johnllew

 Can I take out a 0% card but transfer his balances??

Yes, with most cards but not Cahoot.

Reaper

I was looking for a strategy re-BTs and SBTs - how often to wait and when to retry.

Alan, I think the reason nobody answered your question is because nobody can agree on the answer!

Some people believe you should spread out your applications while others blitz loads of credit card companies in one go.

I can't say which is better but my strategy is to apply for 1 new card per month, cancelling existing cards when they are of no further use to me (because a rule of thumb seems to be that having 10+ cards makes it hard to get more).

As for retrying I've heard it suggested that 6 months is a reasonable time, but haven't tested it myself.