Best Balance Transfers / MoneySavingExpert.com discussion area

Manchester_Lucy

This fee-free balance transfer business has really hacked me off today.

The MSE email on 15/3 stated that:
"Next best (or the top players if you are transferring from an existing Barclaycard) are a bunch of affinity and charity cards, underwritten by Halifax Bank of Scotland. The following cards all offer 9 months 0% on balance transfers and purchases (spending on the card), with no fee during the introductory offer: Great Ormond Street, Guide Dogs, Harley Davidson, Macmillan Cancer Relief, Mencap, NSPCC, RNID, The Scout Association."

I got the ball rolling for the Harley Davidson within 2 days and received it this morning. So a 2 week turnaround.

I phoned them to make a transfer and HBOS are denying all knowledge of any fee-free promotion. They wanted to impose 2% right then.

Can somebody at MSE point out to me where they got this info from in the first place because now I can't make the balance transfer without paying 2% and aside from saying to HBOS 'you must have offered it without the transfer fee because MSE said so', I don't have anything to back up my claim.

This might mean I've had a needless credit search made on myself that potentially lowers my credit score.

Usual stuff in the T&Cs: "5.2 We may charge a handling fee of 2% (at least £2) for balance transfers and cheques offered at special promotional rates other than a special promotional rate you received when your account was opened."

Anbody help?

grumbler

Manchester_Lucy wrote:

...Usual stuff in the T&Cs: "5.2 We may charge a handling fee of 2% (at least £2) for balance transfers and cheques offered at special promotional rates other than a special promotional rate you received when your account was opened."

See this discussion: Charity Cards - BTF

Manchester_Lucy

Many thanks Grumbler, if anyone would have a link or info for me I knew it would be you.

I've had emails to the bank now escalated to their Customer Complaints dept including links to MSE so we'll see what they say.

steven.davis

I've just followed the link to https://www.0for10.co.uk from the newsletter, but can only find a platinum card from Barclaycard with 0% BT to 1/1/07 with 2.5% handling fee. Can anyone tell me which card I should be looking for, and where to find it for the 0% BT for 10 months with no fee offer ?

Ta

YorkshireBoy

Clicking your own link brings up the 10 month no fee offer for me. If you're referring to the 2.5% BT fee in the summary box, this relates to BT's made after the first 60 days.

melsuggett

does anyone know what the link is for this new offfer from Barclaycard? I can't find it anywhere!

Thanks

grumbler

melsuggett wrote:

does anyone know what the link is for this new offfer from Barclaycard? I can't find it anywhere!

Barclaycard 0% BT no fee offer

leaphaze

Just received by Great Ormond Street card on Saturday. Phoned to activate it and operator confirmed (after disappearing off to check) no charge for BT.

BTW I applied for a BarclayCard last year and after around 3 months of waiting (and having my bank statements shredded), they offered me a limit of £600! Waste of time.

sproo

On looking into doing a BT to British Airways Amex 4.9% I found this:

Charges:
a) No fee will be payable for the first 12 months from the date we open your account. Thereafter a fee of £20 per year will be payable by you, if the total amount of transactions (including Balance Transfers) in the previous year (measured from the Card anniversary date) was less than £4,000.

We may charge a handling fee in relation to Balance Transfers. Any such handling fee will be 2% of the Balance Transferred or £40, whichever is the lesser.

I was thinking of borrowing £9500 via the plastic card loan route (amex to egg money to current account) but seeing the above surely it would be cheaper to borrow a loan at 5.6%-5.8%?

so be careful!

David_Woodford

Amex were a pain from the start. Their 4.9% LoB transfer rate has been going for some time so this refers back to last year. To cut a long story short they seem to have a habit of advertising a product that is not actually delivered. I applied for a 4.9% lob only to find out that I had been given 0% for 6 months followed by the standard rate. when i complianed (orally and in writing) they insisted that I had applied for the product they had given me. So at the end of 6 months I transferred the debt and called to close the card. I was then offered 4.8% LoB with no BT fee if I kept it open. I dislike the way they go about their business, but then again it was a good deal... I think the moral of the story is to always be aware that the devil is in the detail.