Credit Card Balance Transfer Discussion Area 2

freccle

If a card offers say 6 or 9 months 0% interest on balance transfers, does that 6 or 9 months start when you get the card, without the balance transfer or can you transfer the balance say 2 or 3 months after getting the card and still keep the 9 months 0%.
I'm thinking particularly of virgin. (Already had BCard, Egg and Halifax) ::)

Unbelievable_2

freccle

The 9 months on Virgin starts when the account is opened, not from when you did the transfer. Virgin/MBNA are particularly helpful because they actually tell you the date your intro period ends (if you use the online facility) ;D

Smitty

OK ive just done my first sbt from egg card to my lloyds current account. how long will it take for the credit to show up in my account.

I think they say 7-10 working days. Mine took a bit less than this

--Tony--

Hi, Can anyone please advise on how much to transferee, I was talking to customer services at MBNA who said I could move upto 98% of my credit limit.

I have also seen this figure a couple of times in posts, is this the case for all credit cards or just MBNA? should you only try to move 98% from Mint and Egg too?
What would happen if I tried to move more that 98%?

Finally Egg gave me £10,000 on 0%, should I move it in one go or two smaller lots a couple of weeks apart.

Thanks Tony
PS, first post, I have been using this site for some time and your all the best, I have saved a fortune by following every single tip I could find (gas, electric, water, credit cards, current accout, savings, ISA)

Galstonian

98% is a figure MBNA came up with. Other lenders may do likewise but even with MBNA it is not a written limit - it is supposed to be to allow for some transactions without pushing you over the credit limit but I'm not entirely convinced by their explanation.

johnllew

98% is a figure MBNA came up with.  Other lenders may do likewise.

I've found that most issuers will allow you to transfer the whole of your credit limit on 0% deals. Bank of Scotland (and therefore I imagine Halifax as well) usually ask you to leave a £250 buffer but if you insist they will relent. Citibank rigidly retrict you to 90% of your credit limit but I can't recall any others.

Unbelievable_2

There is no fee during the intro offer.

MBNA have increased my credit limit (unasked) by £2600. When I rang to BT it they said there will be a £35 charge. My intro period ends in June 2005.

freccle

How do they decide your credit limit?

mary

Bank of Scotland (and therefore I imagine Halifax as well) usually ask you to leave a £250 buffer

Halifax allowed me to transfer the miserly total amount of £900 upon the initial transfer!! No mention made about leaving any behind.

caveman

0% SBT OFFERS. Just phoned mint who said:
Transfer and Save can only be used to pay off credit/store card balances and "money transfer" into a current acc. receives standard (11.9%) interest. Anyone know if this just a smokescreen?
Egg: Can you make multiple SBT's in the intro period and pay no interest, or just one?
Recomendations of other good 0%SBT's?