The Best Balance Transfers Article Discussion Area

M_Thomson

YorkshireBoy wrote:

Chances are that Virgin will change their 'new customer' T&C's on that date as well.

Hi, what do you think they will change them to? I doubt they would bring back the cap for new customers. I reckon they will make it uncapped for existing customers eventually.

Moggles_2

I phoned GE Money this morning and the rep I spoke with confirmed the £50 cap is still in place.

However, new applications are now taking 3-4 weeks to process

Hi Am!

Thanks for your feedback. Sounds as though GE are flooded with applications and cannot cope.

From my own experience, I would say the cards issued by Bank of Scotland and Bank of Ireland are well worth considering (Please see #70 for details)

Also, I can vouch for the Marks & Spencer card, which still offers new customers 0% balance transfers with no handling fees for 6 months.

I signed up in July 2005 and the credit limit was generous. If memory serves, the 0% BTs have to be requested in the first 30 days or so though. As always, check your Ts & Cs.

am3n3

Moggles wrote:

Thanks for your feedback. Sounds as though GE are flooded with applications and cannot cope.

I applied on Thursday, called late Thursday for status as the auto-confirm email I received said app. results would be emailed within 3 hours. Was asked to call back the next day. Called Friday, and was told systems were down. Called today and got the 3-4 week reply. He said I'll be asked again later if I still want my app to proceed, and if I don't reply he said my application will expire.

I'm familiar with never getting the same answer twice w/customer helplines. So who knows what'll happen?

Also, I can vouch for the Marks & Spencer card, which still offers new customers 0% balance transfers with no handling fees for 6 months.
I signed up in July 2005 and the credit limit was generous. If memory serves, the 0% BTs have to be requested in the first 30 days or so though. As always, check your Ts & Cs.

I applied for the PO card earlier, and if that application stalls and I can cancel I'll look at M&S next as you suggested, but looking at its Summary Box (under Charges), it says "We may charge a fee of 2% of the amount of each Balance Transfer (minimum £5)"

This isn't the first time I've seen a mention of a BT fee preceeded by "we may." I wonder how do they determine who gets charged...

am3n3

Update:

Moggles: I read your post on another topic about not being able to send printouts of online bank accounts for PO, so I just spoke to someone who confirmed this and I withdrew my application--she did say my credit would've been checked when submitting the application, so that's that. Thanks for the tip!

Now, I'm deciding between the M&S card, which possibly carries a 2.5% BT charge, and the Barclaycard Flexi-Rate card which has 4.9% life of balance (but they said applications are taking 14 days).

Otherwise, can anyone rate getting a Mint, Virgin, or Norwich & Peterborough cards for BTs?

Moggles_2

I applied on Thursday, called late Thursday for status as the auto-confirm email I received said app. results would be emailed within 3 hours. Was asked to call back the next day. Called Friday, and was told systems were down... if I don't reply ... my application will expire.

This has been reported here before by GE card applicants. Doesn't exactly inspire confidence, does it?

We may charge a fee of 2% of the amount of each Balance Transfer

This 2%fee does not apply during the 6 month introductory promotion.

Hope your application for the PO card proceeds smoothly.
M

Moggles_2

... not being able to send printouts of online bank accounts for PO, so I just spoke to someone who confirmed this and I withdrew my application ...

Before you attempt further credit card applications, have you checked your electoral status recently?

... can anyone rate getting a Mint, Virgin, or Norwich & Peterborough cards for BTs?

Which credit cards do you have at present?

YorkshireBoy

M_Thomson wrote:

Hi, what do you think they will change them to? I doubt they would bring back the cap for new customers. I reckon they will make it uncapped for existing customers eventually.

I *think* they will want to standardise all their customers on one set of T&C's, and my 'gut feel' is that they'll re-introduce the cap for all customers.

That said, Virgin are sending out different letters (ref VMON04 and VMON11 being two examples) to customers at the moment. There's been a recent discussion on the stoozing site - it starts 3 or 4 posts down on this page.

am3n3

Moggles wrote:

This 2%fee does not apply during the 6 month introductory promotion.

That's good news. Thanks for the tip!

Moggles wrote:

Before you attempt further credit card applications, have you checked your electoral status recently?

Ha! Therein lies the rub. I'm not on the roll because I've only been a UK citizen since March. But I got the annual canvass form and duly registered this week. I'm guessing my name won't show up on the roll until September-October.

Which credit cards do you have at present?

Nationwide, Egg Money and Egg. Nationwide's rates are all fixed, and I am mostly looking to do another BT when my Egg 0% BT offer expires on 1 October. My Egg card is maxed near the £5k limit, and my Egg Money card has a wee limit so it's not suited for BTs.

I can see where this conversation might lead to, namely cooling off on the applications until my name is on the electoral roll

At worst, I'll be charged 15.9% on Egg for 3 months before I can do the anniversary BT (full balance to another card and back again). But I hope I'll be able to apply for a card come October time.

Did I answer my own question correctly, or am I off the mark?

Oh, if it's of any help I just checked my Experian report online and the Post Office card search did appear on my report. The last search before that was in March for a mobile account.

Moggles_2

I got the annual canvass form and duly registered this week. I'm guessing my name won't show up on the roll until September-October.

Well done. If you type "electoral roll" and the name of your council into google, you'll be taken to the relevant pages on your local authority website. Most LA sites include an explanation of how the register is compiled and when you can expect your name to appear.

Being on the electoral roll obviates the need for ID documents and future card applications will be much easier.

~~~~~
Once you're on the electoral roll, I'd consider reviving the PO application if I were you, to use in tandem with your Egg anniversary offer.

am3n3

Moggles wrote:

Once you're on the electoral roll, I'd consider reviving the PO application if I were you, to use in tandem with your Egg anniversary offer.

Will do. Many thanks!!