HBOS - Lloyds Balance Transfer question

DebtMagnet

Just a quick question. With this current take-over/merger whatever with Lloyds and HBOS, how soon will it be before we can’t transfer credit card debt between the two's cards?

I was planning on shifting debt from a HBOS card to Lloyds card later today to take advantage of a BT offer, but I am now concerned that it will be rejected as technically they are part of the same company?

Will this be the case or will it take a lot longer for the actual day to day elements like that to come in to play?

Any help appreciated

Many thanks,
DM

NickX

I don't think the merger\takeover is finalised just yet, to I would thinking Balance Transferring today should be fine. I wouldn't leave it too long though.

daveboy

Parliament needs to pass the relevant legislation to allow the merger to take place - and is in recess for another two weeks.

As has been said above, any people thinking of doing it, do it soon because you will lose the opportunity in the near future.

YorkshireBoy

The "scheme document" isn't being sent out until November 2008, and the acquisition isn't expected to be completed until late 2008/early 2009.

I think you'll be OK for a BT this afternoon.

DebtMagnet

Thanks all for the speedy replies. I'm off to go and do it now then.

Thanks again,
DM