New Balance Transfer Discussion Area

Technostalgia

I've just applied for a Virgin card, although I wasn't able to apply for balance transfers during the online application. I was asked to provide the details of up to 4 cards to transfer balances from but there was no "cheque" option, just Visa/MC/DC/Amex.

Am I right in thinking I can apply for an SBT from my (overdrawn) current account once my card account is opened?

Thanks in advance for your help, and thanks to Martin and all the forum members for your advice so far

T.

Reaper

Yes, Virgin don't do cheques but they let you balance transfer money direct to your bank account. Just make sure you ask for a balance transfer not a cash advance.

You can't do a balance transfer for the full amount, I think they limit it to 95% of your credit limit.

Give them a call once it is set up or fill in the form they give you when they send you the credit agreement.

ritac1

Good Morning,

I have been offered a v.g bal transfer rate by a couple of my credit cards. I have cleared the accounts with a view to transferring balances from other cards with a higher interest rate. Do I need to wait for a statement showing the balance to be zero? I have confirmed over the telephone that the accounts now have nil balances so surely I should be able to go ahead and transfer the balances knowing that any payments made will not be clearing a cheaper balance first (because there is no other balance!). I hope I have explained myself clearly enough for people to understand.

Hope to hear from someone shortly.
Thanks

Newbird

Hi Martin,

Can you tell me what the existing customer offer is for MBNA - as seen in your new CC table highlighted in yellow.

OK, you have to ask, but do you know of any offer if i ask?

I've checked their web site, and can't see anything to give me a clue. Maybe I missed something in the new atricle?

Thx

Newbird

Presuming Martin is around of course....anyone else know anything???

brindlechick

Hi
I have taken advantage of Martin's words of wisdom and i have changed three of my cards onto a Barclaycard and HSBC 0% balance transfer cards. I will continue to changes them after 9 months. Will i run out of cards to apply for? How do i re-apply as a new customer on a previous card i have?

Any advice appreciated

Reaper

After 6 months the credit card companies will normally treat you as a new customer again, although you often have to leave it a year before you are entitled to any promotions/freebies.

I'd leave it a year unless you run short, which you are not likely to.

brindlechick

thanks for the help Reaper.

Technostalgia

Thanks Reaper!

Harley_2

First post, so treat me gently please.

Is it possible/legal to pay one credit card debt with another credit card as opposed to transferring the balance? I am getting a Morgan Stanley card which offers 2% cash back until May and I want to make a large purchase to get this benefit then trasnfer or pay off debt with a Sainsbury's 0% (for 1 year) card but not sure how I can do this as I would want to clear the Morgan Stanley debt before the second month? Any thoughts please? Time is tight.

Thanks

Harley