Best Balance Transfers / MoneySavingExpert.com discussion area

grumbler

pigeonpie wrote:

This might be fairly obvious, but it's worth mentioning: it takes up to 3 weeks to get a new card and do the balance transfer.

In fact a usual recommendation for stoozers is to start looking for a new card at least 6 weeks before 0% period ends.

This makes it not worth it for me with my MBNA linked card as my large outstanding balance is due only towards end March but the statement they issue is on 7 March. After the statement date/issue, any balance transfers or even payments aren't credited on to March's bill, but are reflected as a credit on April's!

And what? A balance transfer is shown as a payment to your CC account and has the same effect.

I had a big refund from a PC retailer, but still had to pay the cc and wait for my refund the following month!

Unfortunately, you have to pay: Effect on credit refunds to Statement balances?

If anyone knows of a quick cc with no fee, 0% interest for 6 months or more and no requirement for 3 years UK residency, please let me know today.

http://www.stoozing.com/0fees.htm. What I am sure about is that HSBC from this list is not 'a quick' one you need. I cannot tell anything about others.

pigeonpie

I've spent hours on this site and that's the first time I've seen the time issue clarified. Thanks. I'm newly back in the UK and things have changed a lot in 10 years; a better idea (for others in same predicament) than a balance transfer card is to get a 0% purchases for 6-9 months card before you start buying all the incredibly expensive stuff you need for unfurnished rentals in the UK!! (assuming you can get one if you've just come back to or just arrived in the UK that is).

As usual, learnt the hard way. Btw is this site linked on Google? I only found it through flipping through an outdated Saturday graun.

grumbler

pigeonpie wrote:

...Btw is this site linked on Google? ...

http://www.google.co.uk/search?sourceid=navclient&ie=UTF-8&rls=GEUA,GEUA:2005-32,GEUA:en&q=moneysavingexpert

Supersaver_3

I need some help. I have 2 credit cards egg and virgin both have 0%which run out in March. I am receiving some money in April which I will pay off and then intend to have just 1 card, but I dont know what is best to do. Do I get a whole new card with 0%, or see whether egg or virgin will do anything to keep me....... Im confused!

sarymclary

Hi,
I'm in the fortunate position, where I am currently able to clear all my outstanding debts (iro: £36k), and have been clearing them completely. However, a friend suggested doing a BT of my largest credit card debt £9700 at 0%, and earning 5% in a savings a/c. This all seems fairly straight forward, BUT, I am a widow, in receipt of tax credits/widow's benefit/pension/child benefit, and this combined income is in the region of £15,700 pa. I'm concerned that appearing to be just a housewife on an application, will jeopardise it. Is it worthwhile applying? I don't want negative applications to sully my, until now, practically blemish-free credit rating.

I'd appreciate any comments.

grumbler

sarymclary wrote:

I'd appreciate any comments.

1. There is no such a thing as 'negative application'. There are 'credit searches' related to any application for a credit. These searches are neither negative, nor positive and stay on your files for 12 months only. After 6 months past searches have very little effect on your credit scorring. Only several close searches affect seriously your credit score for a few months.
Your Credit Rating: How they decide and how you find out for free

2. With £15K+ income you can apply for a 0%, but IMO you are unlikely to get £9700 limit on one card. In this case you can transfer part of the balance.

Jeff9999

jennyb wrote:

I applied for a credit card with HSBC on Boxing Day, to take advantage of the 0% balance transfer. 1st of feb now and theyre still faffing around with a second-round request for identifying documentation, and I'm told I shouldn't expect to receive the card until the end of next week. I'm told that they can't do a balance transfer until after I've received the card, but as I've put a couple of large purchases on my existing card recently I really want this to happen before they start incurring interest, on 6th Feb. They are apparently unable to fast-track the application, despite me registering a complaint about the abysmal quality and speed of service.
So - so far my recommendations for HSBC would be:
1. If you really want this card, apply 2 months in advance of needing to balance transfer.
2. take a day off work if you want to go into the branch - their queues are astonishing.
Don't apply for this if you think you may ever want to use a branch for any reason whatsoever - every time I walk past my 2 local branches they are absolutely stuffed full of customers. I was told that if I didn't arrive at 9am I could expect a half hour wait before I could see someone.
Don't expect to be treated as a valued customer or an individual; they didn't seem too fussed that I was going to complain. I spent an hour in the branch this morning with no acceptable result. In another branch I found staff offhand to the point of rudeness.
Don't expect to be able to contact them by email either, even if you apply online. I looked all over their web site for contact email addresses, to no avail.
The phone number they gave me to contact them on about my application is only available weekdays 9-5, and when I did ring from my office, after waiting on hold for 10 mins I was told that I couldn't query the application without providing sensitive data, which of course in an open-plan office is not a good idea. I wasn't offered any other phone number (until today) - rather I was told to go into a branch if I wanted any information.
If I'd known this, I would never have bothered - if time is money, I've wasted more than I would save by transferring a couple of thousand to them for 9 months.

I see there are other people complaining about HSBC on here. They are awful. I have just written to HSBC telling them to cancel my card application. The only way you can speak to them is by telephoning India and I find it difficult to communicate when I cannot understand the dialect and they have no idea about UK finance and customs. If they want UK customers then they should have a UK call centre. The customer service is beyond dreadful and so Slowwwwww ..... I have waited two months, made numerous expensive phone calls and get conflicting information each time I speak to them. The last instruction was that I needed to go into a HSBC branch to apply. What is the point in applying on the internet and then being told to go into their branch two months later. Similarly, I have just received a second round of application questions which they could have asked in the same letter that they sent the consumer credit agreement three weeks ago. I have returned the paperwork suggesting they keep their card until such a time as they are able to provide a reasonable quality of service. . Finally, I have been offered a derisory of £4500 credit limit, the lowest compared to every other card I have applied for over the years. Worst service ever. Not recommended. Martin please point this out on your website before providing links to this company.

wotnoshoeseh

Hi all,
Just applied for the amazon credit card, issued by Halifax.
0% for 6 months on BT's with no fee.
Also 1500 free amazon points (worth £15) when I first use it.
Instant decision too and notification of credit limit.

Sofa_Sogood

B*gger off will you ...:rolleyes:

Jeff9999

wotnoshoeseh wrote:

Hi all,
Just applied for the amazon credit card, issued by Halifax.
0% for 6 months on BT's with no fee.
Also 1500 free amazon points (worth £15) when I first use it.
Instant decision too and notification of credit limit.

Was the credit limit offered a decent limit or was it lower than expected?