Can a BT be denied if you have plenty of balance and have good credit use?

sleep_loser

I have tried to use my BA AMEX life of the balance deal to transfer upto 25k worth of debt onto it in total (I have 10k on there at the moment), and they have declined it without any further information. I was given the excuse that the card is design for spending to get air miles not BT's by their customer services manager, but surely it's not upto them how I use the card if assuming I pay it on time and don't breach any T&C's?

I was actually advised not to get another card by their Executive Office Manager when I mentioned I was in need of a bigger credit limit from them, and to move some of my credit limit from my 20k limit Platinum card to my BA AMEX to do this, but it seems it was pointless as they have declined the BT's!!

This has made me very mad as I use my platinum card monthly, and have spent over 50k this year on it, and cleared it off every month!!

You might ask why I want to do this, and it's simple, I want to clear some other 0% debt onto it before I get clobbered with 16.9% in Spetember, and have got something somewhere stopping me get other credit as I've been declined by a couple of card lenders this week!!

I think they just don't want to give out 25k @ 4.9% for an undetermined period!!

I just think they should not have advertised it as that offer if they decline it happening.

CAN THEY DO THIS?

Kind regards
Paul

dmg24

You need to check the terms and conditions. The likelihood is that they reserved the right to decline individual balance transfers under certain circumstances.

sleep_loser

of course cos we all read the T&C's ;-)I have asked them to give me a reason, however their answer was due to internal confidential information they can't tell me!!

I didn't realise I was applying to be a Spy for MI5 !!

AMILLIONDOLLARS

There are several threads on this in the AMEX Credit Card Section, so you are not alone. In AMEX's press release a month or so ago, they stated that they were discontinuing doing BTs on their newly issued cards, but that it would still be available to existing customers. You may need to search for confirmation of this, phone AMEX back reminding of this statement.

Good luck!!

AMD

found the link:

http://forums.moneysavingexpert.com/showthread.html?t=211118&highlight=amex+balance+transfer

Moggles_2

Hi there

Ammex recently announced that they were scrapping balance transfers for all new customers.

You are not new, but Ammex cards are designed to encourage retail purchases as opposed to BTs. Clearly, this company wishes to develop the former rather than the latter side of its business.

~~~~~~~~~~~~~~

That said, two questions spring to mind.

When did you last check your credit report?
How many new credit cards have you applied for in the last 12 months?

You've been declined by two other card lenders this week. It's important to find out why.

Very best
M