The Best Balance Transfers Article Discussion Area

Moggles_2

Hi BikingBud

Capital One launched the second deal on 7 September 2006.
It seems C1 has now dispensed with the £100 minimum spend qualification.

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

For a straightforward deal, I can certainly vouch for the Post Office card which offers unrestricted O% balance transfers with no handling charges for 6 months plus 0% on purchases as well.

Cheers
M

zcnewton29

I signed up for a Post Office Credit card because it offers fee free balance transfers and I wanted to to clear my overdraft. However, they do not balance transfer to Bank Accounts - only to other credit cards!

gwernybwch

Moggles wrote:

The Union card issued by Bank of Scotland is the current market leader. This offers 0% balance transfers for 9 months with no handling charges.

I'm looking for a credit card BT with no handling charges.

I've had a look through the thread and it seems that the only other company offering no fee BT is through the Post Office / Bank of Scotland.

Does anybody know of any other BT with no fees currently being offered?

Thanks in advance.

Moggles_2

Hi zcnewton

Welcome to MSE and the credit card board!

You can shift a credit card balance to another credit card. Transferring an overdraft is not so straightforward.

As you say, the Post Office card does not provide this facility. In fact, only a few rather special credit cards have the capability. For an explanation, please click on *Super BTs* in the black box at the top of this board.

Moggles_2

Hi gwernybwch & welcome to the credit card board!

The Post Office card is issued by the Bank of Ireland, not Bank of Scotland.

I applied for the charity version of the Bank of Scotland deal last April and signed up with the Post Office in July. I can certainly vouch for both.

YorkshireBoy

gwernybwch wrote:

Does anybody know of any other BT with no fees currently being offered?

BoS have changed the T&C's on many of their 'charity cards', and introduced 3% BT fees. I say many because they appear to have forgotten some, including...

Elvis Card - 5 months
Marriott Card - 6 months

...but get in quick because I would think it's only a matter of time before these get 3% BT fees as well.

There's also a few other cards listed on the stoozing site's no-fees table.

Not advice.
DYOR & read the T&C's (especially 5.1 & 5.2 on the BoS cards).

RTi

Hello, i need some help in choosing a a BT card..

i have a barclaycard with with £2k and Virgin with with £2k .. 0% rates have expired on both.. i also have a co-op card thats dormant..

id just like to know whats the best deal available for me? im looking for 0% for 6 months..and no handling fee..

thanks

Moggles_2

Hi RTi

In July I signed up with Bank of Ireland. The bank's Post Office card still offers unrestricted 0% balance transfers with no handling charges for 6 months. You get 0% on retail purchases for the entire 6 months as well.

The PO card accepts balance transfers from all other UK credit cards and, unlike most competitors, allows customers to borrow right up to their credit limit. Barclaycard, for instance, insists on a margin of 10% in case late payment fees etc. become payable.

For a straightforward, no-tricks deal, it's hard to beat IMO.

KerryGold

I'm most likely being a total thicko but what I don't get is this:

If I wanted to get the &More card and do a BT @ 3.9% - why couldn't I use the 0% on purchases part? As long as the whole balance was cleared within a year I'd be okay wouldn't I?

Thanks!

Moggles_2

Well, this doesn't apply across the board actually, but certainly is the case here - exactly the poo-trap M&S calculates some customers will fall into and it's the main way, IMO, the credit card company stands to make money! Those taking up the offer will be bombarded with advertising aimed at persuading them to spend on the card. For an explanation, please see summary box, allocation of payments.

If you're looking for a credit card which charges the same rates of interest for balance transfers and retail purchases, I'd recommend the Post Office card - please see #140.