Will applying now affect applications in May?

Cumbrian_Male

I currently have 2 0% cards in Virgin C/L £12k BAL approx £11.4k and M&S &more C/L £5k Bal approx £3.4k .

They both run out of interest free period around May. (must get exact dates)

I have closed Halifax one £8k C/L and Mint £10k C/L when the above where taken out.

I earn about £31k with performance related pay included.

My questions are, as I am going to Europe in Feb., will getting a nil loading card like Nationwide's now, hinder my chances in May of bouncing this debt to new 0% deals?

Is it better to apply for Nationwides online or in branch? I will also try to get current a/c and move money to it to draw while away, better than tourist rate buying Euros here before we go.

Been balance transfering for the last 3 years and never paid interest yet or been turned down, but its now getting harder to find good deals.

Intention was to get Co-op card who match your highest credit limit or combined total to clear Virgin then try to get a 0% extention out of them.

Looking forward to your views and combined wisdom.

TIA

YorkshireBoy

Cumbrian_Male wrote:

They both run out of interest free period around May. (must get exact dates)

...will getting a nil loading card like Nationwide's now, hinder my chances in May of bouncing this debt to new 0% deals?

Depending on the exact date in May, you may have to make your application towards the end of March, 6 weeks being the suggested timescale. This brings the gap between applications down significantly - to 8-10 weeks. It's a tough one to call, especially if you have to make 2 applications.

Cumbrian_Male wrote:

Intention was to get Co-op card who match your highest credit limit...

Co-op say the will consider matching your current card limit - there's a subtle difference.

And if you do decide to apply for Co-op, it looks like this will be your first BT fee as they are very strongly rumoured to be introducing a 2% (max £49) fee from tomorrow, 16th January.

Good luck with whatever you do.

Cumbrian_Male

YorkshireBoy wrote:

Depending on the exact date in May, you may have to make your application towards the end of March, 6 weeks being the suggested timescale. This brings the gap between applications down significantly - to 8-10 weeks.

Will update when I know exact dates.

YorkshireBoy wrote:

It's a tough one to call, especially if you have to make 2 applications.

Hopefully only one if Virgin play ball and extend my offer after clearing and ringing to close.

YorkshireBoy wrote:

Co-op say the will consider matching your current card limit - there's a subtle difference.

And if you do decide to apply for Co-op, it looks like this will be your first BT fee as they are very strongly rumoured to be introducing a 2% (max £49) fee from tomorrow, 16th January.

Hmm may have to rethink this then, see who does fee free and gives good limits nearer the time.

YorkshireBoy wrote:

Good luck with whatever you do.

Cheers

cornerclose

Thanks for the alarming info about Co-op introducing BT fees from today. Would this apply to existing card holders? I have a Yorkshire Building Society card about half way into its 6 month 0% balance transfer period and I use it to pay off my cashback card monthly. It has been exceptionally useful as the cashback (Conran) card has only £1500 credit limit. I have just had my Conran statement and was about to transfer about £700, but I do NOT want to be charged more than the cashback this money has earned when I could easily pay Conran from my bank account.

Cumbrian_Male

Cumbrian_Male wrote:

I currently have 2 0% cards in Virgin C/L £12k BAL approx £11.4k and M&S &more C/L £5k Bal approx £3.4k .

Now have dates as follows:

M+S &more 19/03/2006 NOW NEED TO FIND BEST FEE FREE LONGEST 0% DEAL

Virgin 25/05/2006

Cumbrian_Male wrote:

I have closed Halifax one £8k C/L and Mint £10k C/L when the above where taken out.

I earn about £31k with performance related pay included.

My questions are, as I am going to Europe in Feb., will getting a nil loading card like Nationwide's now, hinder my chances in May of bouncing this debt to new 0% deals?

Now have Nationwide Flex account and Credit card

Cumbrian_Male wrote:

Been balance transfering for the last 3 years and never paid interest yet or been turned down, but its now getting harder to find good deals.

Intention was to get Co-op card who match your highest credit limit or combined total to clear Virgin then try to get a 0% extention out of them.

Looking forward to your views and combined wisdom.

TIA

Who is my best bet to move my M+S &more balance to? Obviously not any HSBC branded cards.

YorkshireBoy

Cumbrian_Male wrote:

M+S &more 19/03/2006

Blimey, you were a bit out with this one - you said May in you first post!

Cumbrian_Male wrote:

Who is my best bet to move my M+S &more balance to? Obviously not any HSBC branded cards.

Always difficult to recommend, but take a look at...

https://www.stoozing.com/0fees.htm and https://www.stoozing.com/cards.htm

A survey of stoozers on the above site found the clear winners in the 'highest limit' category were Egg, MBNA (which you've already got), & Capital One - although I've had good limits from LTSB as well. If you got a good limit on LTSB, I'd be tempted to shift some of the debt from Virgin now (LTSB has a 6 week BT window) to make life easier for yourself in May.

Cumbrian_Male

YorkshireBoy wrote:

Blimey, you were a bit out with this one - you said May in you first post!

March / May very similar sounding :rolleyes: good job I checked.. :eek: now got tart alert set up :j

YorksireBoy wrote:

Always difficult to recommend, but take a look at...

https://www.stoozing.com/0fees.htm and https://www.stoozing.com/cards.htm

A survey of stoozers on the above site found the clear winners in the 'highest limit' category were Egg, MBNA (which you've already got), & Capital One - although I've had good limits from LTSB as well. If you got a good limit on LTSB, I'd be tempted to shift some of the debt from Virgin now (LTSB has a 6 week BT window) to make life easier for yourself in May.

Looks like LTSB is the deal to go for. Thanks for the links might just steam in now as I will only loose a couple of weeks off the M+S deal plus if get good limit max it during 6 week window. Then sit on M+S till nearer May and see if they throw me a deal to clear the rest of Virgin.

Is it best to apply online or in branch? Any benefits or negative aspects to either method?

Cumbrian_Male

Just to conclude this thread, LTSB Platinum applied for and approved just awaiting card now.

Sufficient credit limit to shift M+S but not Virgin.

Big thanks to YorkshireBoy for tips and help.

Do they have a habit of asking about other balances to transfer upon activation? and will they up the limit to do so? Any experiences here?

YorkshireBoy

Cumbrian_Male wrote:

Do they have a habit of asking about other balances to transfer upon activation? and will they up the limit to do so? Any experiences here?

You're in your strongest negotiating position when you make the activation phone call (in my experience anyway).

There's been some discussion on the stoozing website recently regarding low initial credit limits which were subsequently lifted by CSA's during activation/appeal - and from memory, without a further credit search.

The general view is that you may have a 'shadow' credit limit on your account. From the details given on the stoozing site, this shadow limit appears to be around 20% higher than your given credit limit.

So, don't be greedy! - go for around 18-20% and see how you go. Please feedback with the outcome, because a lot of the above is based on Mint and it would be good to see if LTSB operate in a similar way.

Good luck.

Clariman

Cumbrian_Male wrote:

Just to conclude this thread, LTSB Platinum applied for and approved just awaiting card now.

I hope you applied for the LTSB Platinum card before they introduced a BT fee. It would be worth checking the Ts & Cs and/or calling them.

Clariman