Super Balance Transfers discussion area

Former_MSE_Dan

This thread is for discussing the

Super Balance Transfers:
Sneakily use 0% credit card to pay off loans & overdrafts

article. Please click reply to discuss

homealone_2

i have approximately £5800 on a lloyds account on 0.45% monthly interest would it still be worth me switching this to 0% for 16 months. i was hoping to have it paid off in that time anyway

The_Laddie

I know it says on the front page if your an existing MBNA Customer you won't be able to apply for one of the Super Balance Transfer cards but I got a letter and some cheques from MBNA yesterday teling me I could use the facility till the March so if your an existing Platinum card holder it looks like they're rolling it out for you too.

Chris.

poker_face

The_Laddie wrote: »

I know it says on the front page if your an existing MBNA Customer you won't be able to apply for one of the Super Balance Transfer cards but I got a letter and some cheques from MBNA yesterday teling me I could use the facility till the March so if your an existing Platinum card holder it looks like they're rolling it out for you too.

Chris.

Can anyone recommend a good 0% Super Balance Transfer card?

Former_MSE_Dan

Hi The_Laddie,

Obviosuly I can't see the cheques, but just treble check that they can be used for 0% balance transfers - often card companies can be sneaky and charge them at the huge cash advance rate.

Hopefully not in your case, but felt like i should mention it

Dan

emrobouk

The Egg money is not accepting any more people at the moment to sign up...pity

adam69

Hello.

New to this site, first post here!.

I'm just trying to understand this concept.

Lets say i owe £1,500 on a Barclay Card. Can i transfere this balance to the Virgin Card, then get them to pay £1,500 cash debt into my account to use as i wish?

I'm a little confused, is that correct? Or would that mean my new debt would be £3000?

Cheers,
Adam.

davemorton

adam69 wrote: »

Hello.

New to this site, first post here!.

I'm just trying to understand this concept.

Lets say i owe £1,500 on a Barclay Card. Can i transfere this balance to the Virgin Card, then get them to pay £1,500 cash debt into my account to use as i wish?

I'm a little confused, is that correct? Or would that mean my new debt would be £3000?

Cheers,
Adam.

If you got a virgin card, they will pay money into your current account to "clear your overdraft"... So that would be a way to get a 0% short term loan.

adam69

Clear the overdraft? Do you mean the money i currently owe on the card?

Serial_Tart

New to this site but been lurking for a while and hopefully this may help those looking to do the Super Balance Transfer and were in a similar position as me.

I already had a two MBNA's credit cards and tried to be cheeky and applied for a third but naturally got refused.

However on one of them I had no outstanding balance and hadn't used it for over a year, so took the chance to see if they had anything on offer with regards to cash/balance transfers, which they did.

I got 0% for ten months and have now cleared my overdraft which was costing over £40 per month. Only drawback was the 5% charge which is a bit higher than standard 3%. It is still worth it overall though.

Serial_Tart

New to this site but been lurking for a while and hopefully this may help those looking to do the Super Balance Transfer and were in a similar position as me.

I already had a two MBNA's credit cards and tried to be cheeky and applied for a third but naturally got refused.

However on one of them I had no outstanding balance and hadn't used it for over a year, so took the chance to see if they had anything on offer with regards to cash/balance transfers, which they did.

I got 0% for ten months and have now cleared my overdraft which was costing over £40 per month. Only drawback was the 5% charge which is a bit higher than standard 3%. It is still worth it overall though.