Best Balance Transfers / MoneySavingExpert.com discussion area

The_Saving_Man

Just spoke to credit card customer services at Lloyds TSB and at NatWest. According to both, they no longer waive the 2% BT fee for applying in branch (Lloyds), or if you are a current account holder (NatWest).

Looks like I'm going to have to look elsewhere!:mad:

EagerLearner

The charity cards Martin is recommending at the moment son't seem to have transfer fees - don't know if this helps anyone in time...

EagerLearner

Neill_B

Sorry for changing the drift of the conversation slightly. Can anyone recommend a 0% interest credit card for balance transfers for 6 months or longer, 0% on purchases for 6 months or longer and 0% on overseas purchases. I am going abroad to Greece soon so I thought is it possible to tie all these into one card. I doubt it myself but thought I would ask anyway. Ohh before I forget my card is a Halifax One card so I can't transfer to say the Guide Dogs for the Blind as mentioned on the main site.

grumbler

You want too much.
For purchases abroad Nationwide is the best: Spending Overseas: Cut the cost by over 6%. Their credit card comes with 9 months 0% on purchases. For BTs see the article being discussed here: The Best Balance Transfers: cut the cost of existing credit card debts and http://www.stoozing.com/0fees.htm. Some of them come with 0% on purchases too (on the latter site hover over s). However, all cards besides Nationwide will charge 2.65-2.75% fee on purchases abroad.

MrsYatesy

Thanks for the advice on the cards Martin was showing, after reading through, I have applied for the Natwest one as I am already a customer and so pay no fee for my BT!! Application was approved online and all should be sorted in 3 weeks - saves me months of interest I have been paying as I didn't want to pay 2% transfer fee - and I get 9 months interest free on purchases and BT.
Cool - thanks :-)

Ben_About_Town

I have a pickle ...

I have a Balance than needs to move in the next 4-6 weeks on a Natwest Card, i already own a Halifax Card ....

Where can i move my debt without being hit with a 2%.

I have been reading about charity cards, and they seem to have a 2% change on all of them. I have a Barclays Current account, but it seems their site speaks of 2%. (also i had a Barclaycard about 9 months ago, hmm u can work out where the balance came from in the first place).

So what are my choices ? it looking slim for a 9 month one or is it ? 6 month with M&S seems painful, as that will land me in xmas time !

yabba1

nmartin wrote:

don't know if you all know this but I just got an email from Egg about my Anniv and they are now charging 2.5% for the privlge. Anniv BT is now not exactly attractive to me. Here is the exact quote from my email:

As a special anniversary 'thank you' you'll get 0% interest fixed until 1 October 2006 on any balances you transfer throughout May 2006. For each balance transfer, there is a 2.5% handling fee.

Big bummer

Worth noting that charge for balance transfer has also been increased to 2.5% and it is not capped at £50 any more!! I agree that the offer is not so attractive anymore, but didn't realise until I had transferred a balance. I have learned from this mistake!

nigbus

I got turned down for the Capital One 0% interest card this week. So then applied for the GE Money one and got it. Should save a bit in interest charges. So if you get turned down, keep trying. ATB and good luck.

vermont

1.. is it an option to withdraw cash from nationwide/ hsbc credit cards before transferring this plus existing debt to / BA amex, thus getting a cheap ( 4.9% ) loan ... If application fails, pay back money ?
.. ( good credit rating & private pension + part time salary )...

2..any c/cards accept overdraft transfers also ?

3..when transferring c/card debt, is the entire amount including interest to date transferred ( leaving no residual ) ?

with thanks, and sorry if questions a bit dumb ..

grumbler

vermont wrote:

1.. is it an option to withdraw cash from nationwide/ hsbc credit cards before transferring this plus existing debt to / BA amex, thus getting a cheap ( 4.9% ) loan ... If application fails, pay back money ?

Yes, although it will cost you extra 2% for cash withdrawal - on the top of 4.9%. And why can't you wait untill being accepted and only then draw cash?

2..any c/cards accept overdraft transfers also ?

See Super BTs and Stoozing links in the blue box above.

3..when transferring c/card debt, is the entire amount including interest to date transferred ( leaving no residual ) ?

Balance transfer from a CC1 to a CC2 is in fact just payment from the CC2 to the CC1. This payment in the first place depends on the CC2 credit limit and generally speaking can be smaller and bigger than the current balance on the CC1. You decide how much to transfer (within your CC2 credit limit).