How long to balance transfer

Brian123

I'm being offered a good rate for a life of balance transfer to a Halifax card but I will need to transfer debt off the card first before transfering it back to take advantage of the offer.
How long does it take for the Halifax (or any other company) to accept that the card is now clear and apply the preferential rate to an amount transfered back on.

BrianT

stephane_2

They say that a transfer can take up to 10 working days, but most transfer I have done took about 3/4 days, but it can take slightly longer for your balance to show £0

Brian123

Thanks for the reply.
Does anyone know if it's worth asking the Halifax if they will apply the promotional rate without going through the transfer off and back on.

Moggles_2

Brian123 wrote: »

Does anyone know if it's worth asking the Halifax if they will apply the promotional rate without going through the transfer off and back on.

It's not unusual to be offered a special LOB rate as a sweetener to attract new business. It's not often that a lender offers to extend the deal to existing transactions though. In fact it's almost unheard of. Because of the payment hierarchy that's pretty standard across the industry, this would deprive the lender of a valuable source of revenue.

Still, there's no harm in asking I suppose. What have you to lose?