Balance transfer???

davenkelly

hi,

I'm slightly puzzled.....

i have just been accepted for a 0% deal for 13 months with halifax, and was wondering if i can transfer the remaining balances on my loan from HFC bank (for my tv etc) onto this 0% deal???

Also, how do i physically transfer my old cc balance onto my new cc??? do i just ring halifax and they do it for me?!?!

:rotfl:...(i know i sound a bit daft!!!)

thanks in advance

:-)

stephane_2

You cannot pay a loan with Halifax Credit card, you would need a card like MBNA or Egg which allow transferring fund to your current account. As for the balance transfer just call Halifax and give them card details which you'd like to transfer, that will take up to 2 weeks to appear on your statement.

CLAPTON

What sort of 0% deal have you got with halifax?
if general you can't BT from a loan to a credit card.

YorkshireBoy

Consider the Egg Money 'mule' technique to get your loan on the Halifax card. Further details...

http://www.moneysavingexpert.com/loans/cut-loan-overdraft-costs#mule

You do know not to spend on the Halifax card once you've transferred your balance(s) to it don't you? Use another card...the Egg Money card will double up here (mule the loan then pay 1% cashback on your spending).

davenkelly

Hi,

thanks for your replies,

its 0% on balance transfers for 13 months, and 0% on purchases for 3 months. I do not intend on spending on the card, as the way i understand it, if i was to spend on it the balance transfer would sit in front of the purchases in paying off order? (if that makes sense!)

On the letters and stuff that have come through, it says it is a halifax plus card?

the loans are for 300 + 350 (well, thats whats left anyway) and this was for retail finance from pc world + currys, and i was looking for the best way to get all my debt (750 cc 300 pc world 350 currs) in one place to pay off?

My OH has just been accepted for a virgin cc which i think is 0% for 16 months? to transfer his £650 from capital one. Perhaps i also should have applied for the Virgin?

thanks again
:-)

CannyJock

davenkelly wrote: »

My OH has just been accepted for a virgin cc which i think is 0% for 16 months? to transfer his £650 from capital one. Perhaps i also should have applied for the Virgin?

Yup, makes more sense for your OH to do a SBT to clear your loan and you use your Halifax card to clear his cap one card.

davenkelly

Actually, i do have another question.....

because i have a barclaycard at the moment, and i am going to transfer the balance to the new halifax credit card, this will leave me with a 0 balance on my barclaycard.
In the t +c's which halifax sent out, it says i can transfer balances within 60 days of opening.....so could i transfer the balance on my barclaycard, then pay off the 2 small loans from hfc with the barclaycard, then transfer the new balance on my barclaycard to the 0% deal form halifax (within the first 60 days)? which would mean i would have the original barclaycard balance on the halifax plus the 2 loans all at 0%?

If that makes sense to anyone :-)

davenkelly

sorry Cannyjock, i was writing the other question when you wrote your other post!!! :-)

CannyJock

davenkelly wrote: »

Actually, i do have another question.....

because i have a barclaycard at the moment, and i am going to transfer the balance to the new halifax credit card, this will leave me with a 0 balance on my barclaycard.
In the t +c's which halifax sent out, it says i can transfer balances within 60 days of opening.....so could i transfer the balance on my barclaycard, then pay off the 2 small loans from hfc with the barclaycard, then transfer the new balance on my barclaycard to the 0% deal form halifax (within the first 60 days)? which would mean i would have the original barclaycard balance on the halifax plus the 2 loans all at 0%?

If that makes sense to anyone :-)

Hasn't someone already mentioned that you can't pay your HFC loan with a credit card? You need a SBT to your current account, then pay the loan from your current account.

davenkelly

Ah ok,

The only reason i asked was i used to have a halfords card with 1 purchase of £179.99 on,

when the 0% deal was up, i just paid it off with my barclaycard (as a purchase as my barclaycard doesn't allow balance transfers)

In my stupididty, i just assumed i would be able to do the same with the loan and 'pretend' it was a purchase!!!!!

anyway,

many thanks for all your help :-)