The Best Balance Transfers Article Discussion Area

mrbigd

Got £10.5K on Virgin Card 0% until November then 16.9%

Just applied and accepted for Royal Bank of Scotland Gold Card, BT 0% for 9 months, although do not know Credit llimit as yet.

Can put upto £5K on Barclaycard at 6.9& for life of debt, which is OK, but if I can get an existing customer deal for 0% with a capped fee, then I will go for that.

Does anyone know if Virgin would be willing to extend the 0% offer with a fee.

Also have Sky Card (Limit £7K), anyone done an existing customer BT with them before?

Thanks
D

YorkshireBoy

mrbigd wrote:

Does anyone know if Virgin would be willing to extend the 0% offer with a fee.

Only if you clear the balance to zero first.

fusar

hi,

I took out two credit cards at the same time, and now they are due to be transfered over. I have successfully transfered one of them to the M&S card for 6 months, with no fees. I applied to change the other one over (at the same time!)to the PO card and was refused! I have never been refused for anyhting in my life and have a good credit score. Could I have been refused because I applied for two BT's at the same time? What can I do now, as I would like to apply for the BOS 9 months Union card to cover the remaining card that I have. Will I get refused a second time do you think? How long should I wait before I apply?

Any help would be great - many thanks!

Sarah

hilary1

A&L refused to extend the 0% then offered me 15.9% for LOB instead of 16.9% lol.

Goldfish, as an existing customer have offered me 6.9% for 6 months no fee. But since Barclays have offered 6.9% LOB thats a better deal.

I've noticed lower % loans are mainly over 7500 so maybe 6.9% isnt bad.

On a cc does it mean 6.9% of balance owing monthly interest?

cliveap

After reading the article about this I applied for one. Seems like the 0% on balance transfers is now only until Jan 2008. You also get three months interest free on purchases but I could not see anything about needing to spend £100 in the first month. Also it is not clear whether you can only do balance transfers requested in the application. No mention anywhere about having three months for interest free balance transfers. Have I missed anything or is the article stale?

Moggles_2

Hi Sarah

This is the main drawback to making two credit card applications at once. If the 0% introductory rates expire together, you're faced with two card applications at the same time once again.

I have never been refused for anything in my life and have a good credit score

All the same, have you checked your credit file recently? If not, it might be an idea.

Will I get refused a second time do you think?

Sorry. Only Bank of Scotland knows the answer. At least if you're successful with this one, your credit card applications will be staggered from here on.

Obviously, individual circumstances vary, but it's always best to space out your credit card applications. A maximum of one new card every three months is the best rule of thumb for most people.

Congratulations on your successful balance transfer to M&S!
M

Moggles_2

Hi Hilary

On a cc does it mean 6.9% of balance owing monthly interest?

A 6.9% life-of-balance deal means you would pay 6.9% interest on the debt transferred to Barclaycard until you've cleared that balance.

A&L refused to extend the 0% then offered me 15.9% for LOB instead of 16.9% lol.

If you shift the entire balance to a rival card such as Barclaycard or Goldfish, a better offer from MBNA is virtually guaranteed. I'd put money on it!

Very best
M

Moggles_2

Hi Clive

Welcome to MSE and the credit card board!

Capital One launched this new deal just two days ago.
It seems C1 has dispensed with the £100 minimum spend qualification.

Whether 0% balance transfers are still restricted to the first three months of account opening is unclear, so prospective applicants need to check first

Other terms: 3% minimum payment, 2% uncapped balance transfer fees and 0% on purchases for the first 3 months, remain unchanged.

Cheers
M

cliveap

Thanks for the reply Moggles. I'll let everyone know about the Capital One balance transfer period once I have the paperwork and have checked it out. As a matter of interest I first applied for a GE card but they turned me down. This despite a spotless payment record and good salary. The advice about them is definitely right. Capital One no problem. As there is no cap on the fee I will only be transferring the balance that is out of interest free and will put the other one on Egg on the anniversary in January.

Moggles_2

Hi Clive

Thanks for posting. We'll await your feedback.

Very best
M