0% balance transfer request only partly sucessful

Startup51

So I now have two credit cards, one at 15.9% for £640, the other at 0% for £2995. They didn't indicate they would refuse the whole amount and now no other card wants to take on both loans. I also have a bank o/d I'd like to consolidate into the loan and start paying it all off. Who can I ask?

CLAPTON

seems pretty good

you can concentrate on paying as much as possible on the 15.9% CC or maybe on the OD which you haven't give us any details.

maybe if you said something about yourself (age, income, spending, property status, credit rating, job etc) would be helpful too.

Simon_Preston

Try any card from the mbna stable. You can then do a Super Balance Transfer from that card to your current account and pay it off that way along with the £640 card

Startup51

Simon_Preston wrote: »

Try any card from the mbna stable. You can then do a Super Balance Transfer from that card to your current account and pay it off that way along with the £640 card

The MNBA card has the £640 balance so that would be 15.9%. They have offered to put £1500 into my bank account for a 4% charge. However, this would only be at 0% for 8 months. I would still then be left with two cards one of which would be charging 15.9% and i'd have to find some way of consolidating them, so I thought I'd do it now but don't know who with.

Startup51

Im 58, work full time, earn £20,000 - but it's pro rata-ed because I work in a school - credit rating is good I think, we have a small mortgage £18k and my o/d is with Lloydstsb, its an agreed one and I'm at the top of it.

One of my cards - with the bulk of the loan - is at 0% but it's the other two - the MBNA 15.9% £640 and the o/d at £1500 that I want to try to consolidate and pay off with as little interest as poss. Thanks for taking the time to reply. S

CannyJock

So if I'm reading this right:

MBNA - £640 @ 15.9% APR (0% offer available)
Other card - £ 2995 @ 0%
Overdraft - £ 1500 @ something% APR

MBNA have a positive allocation of payments during promotions - it would be worth phoning them to ask if you did the £1500 transfer to your bank, and then paid £100 to your card, would it be against the £640 or the £1500. Ask them twice just to be sure

If it will be allocated against the £640 then you just ask them to transfer £2140 to your bank account and immediately pay them back £640.

Otherwise, you'd be better of applying for a new 0% balance transfer card, transfer the £640 balance onto the new card, then take MBNA up on their offer and move your overdraft onto 0% for 8 months. Ask them to extend the 8 months to 12 months to match your "new" card - no harm in asking

Can't say for sure which new card to apply for without knowing what your other card is - but full list of them on the stoozing site http://www.stoozing.com/0fees.php - RBS or Halifax tend to give good limits in my experience.

Moggles_2

... now no other card wants to take on both loans.

Which credit cards have you applied for unsuccessfully?

Which deal is best depends, to some extent, on which cards - besides MBNA - you have at the mo or have held recently.

Startup51

I have the £2995 with Virgin, I have just cancelled a Capital One card, I applied for a bank of Scotland card and they offered me £500

Moggles_2

Startup51 wrote: »

I have the £2995 with Virgin, I have just cancelled a Capital One card, I applied for a Bank of Scotland card and they offered me £500

To maximise the 0% period, you'd get until 1 September 2010 from Egg card. A 3% BT fee applies.

http://new.egg.com/visitor/0,,3_84106--View_1763,00.html

For tips to improve your chances of credit card acceptance, have a look at the *Credit Rating: how it works and how to improve it guide* especially Martin's *Manage and Improve your credit score* article

http://www.moneysavingexpert.com/banking/credit-rating-credit-score#improve