New Balance Transfer Discussion Area

Herodotus

I have noticed that many of the cards that Martin suggests as having 9 months interest free for balance transfers, notably HSBC and Halifax, now, on their websites are advertising 6 months interest free. Is there a web link to the 9 months interest free offers, or are they no longer available.

bea_3

You do need to wait until you get your statement.

I BTed before getting my statement and Barclaycard were going to charge me the full interest rate rather than the 2.9% life. Luckily I'd questioned the telephonist about this over and over again when I originally BTed. So, after complaining very strongly about being misled, Barclaycard apparently listened to the taped conversation and agreed to refund the interest and make payments in order of the transactions during the month.

Remember that payments go from the money with the lowest interest rate first so, hold on let me get this right...

If you transfer before a statement is received, the money paid to clear your account at the beginning of the month will be used to paid off the lower interest balance that you BTed leaving you last months balance at the higher rate still to pay after you BT is paid.

ritac1 wrote:

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

Moncs_2

I like the sound of the 3,9% for life on BT from Texico.

What I plan to do is transfer an outstanding loan of £5k to this, however does anyone know if I can do this, or would I need to pay the outstanding loan with another credit card and then transfer the amount from that Card to my texico one?

(hope that makes sense) :beer:

Emily

Hi
(Am new to message forums - hope this works!)

I am a credit card tart. In August I'll need to apply for a card that offers 0% on balance transfers. I have always made applications for credit cards in person, either at a bank or at a stand in a supermarket. Following the advice on Martin's site I would probably go for a Virgin card next. Are there any risks involved in applying online? Having read some previous postings it would seem worth calling them directly, although it does sound as though they sometimes aren't consistent in their information. I feel apprehensive about applying online...

Also, is it possible to hold a card, make use of their 0% balance transfer facility of x months, leave them (closing the account) and then re-apply if they have future 0% offers? Have never tried this in the past...is there a limit to the number of times you can do this?

Finally, a site related question, what is the difference between 'Quick Reply' on this site and 'Post Reply'?
Many thanks!

smartsaver

Hi Weyres

With A&L it's best to ask for a balance transfer direct to your current account (SBT super balance transfer). They may charge for this. If possible request your SBT when you sign the terms and conditions. There is usually a slip attached to the envelope.

Good luck and happy stoozing

ceebee_2

Ref. BT putting a credit card in credit. I accidentally did this with Barclaycard and there were no repercussions. However, I did make a small purchase the same month that I cleared the credit balance. The following month I was charged interest on the purchase.

General comment on interest charges, if I thought the charges were levied unreasonably, I have always been reimbursed after making a phone call.

I am also trying to 0% BT from my Egg card to a Nationwide card taken out (by invitation from Nationwide) by my wife. Nationwide are being a bit difficult. A month after approving the card, they want to see a copy of the Egg c/c payment slip. Internet accounts don"t have payment slips, so I suppose I"ll have to send them a printed statement.

Technical question from a dozy old duffer, how do you put a sub-text message at the bottom of a REPLY ?

Gazp_3

Has anyone received anything from M&S with ref to balance transfers? I signed up for this card two years ago to get a freebie gift in store, but as yet have not used it ( too much interest! ). Received credit card balance transfer offer 3.9% for life of balance, no fee.
Has anyone tried this offer? Any catches?
Thanks
Gaz.

snookie_2

new to all this so be gentle with me! have £15000 higher purchase debt(combine of bike and car loan) with Lloyds at 12.2% apr for 5yrs costing £334.34 a month. was looking to play the cards(Re:SBT) to get this at 0% if i can but un-sure if i can get this amount of credit on one card and will it affect my credit if i get two or three cards to acheve that figure? any advice out there please?

Chadsman

First of all you should check if there are early redemption penalties on the loan- if there are they might well make it not worth while transfering the debt even to a 0% CC.
Assuming the redemption penalties are not too bad is your credit rating good enough for you to get a string of 0% CC deals. Suppose you did get one (or two or three) 0% deal, in 6 or 9 months time you would need another 0% deal otherwise you could be worse off.
Personally I would say hoping to get all £15k on 0% is being to optimistic but there are plenty of personal loans that will charge far less than 12.2% which would be the course of action I would take in your circumstances.
See the banking and loans section in orange on the left hand side of this screen for some ideas on getting started.
HTH,
Chadsman.

happyhero

Please can anybody guide me

I have an Egg with 12000 stoozed, a FD stoozed and a Virgin stoozed. My Egg needs replacing now.

But who is most likely to give me a high limit of 12000 or something near?

I'm toying with idea of

M&S (who is a bit new and therefore an unknown quantity)

Capital one (who seem to be messing people around at the moment)

Mint (who charge a fee although only max of £40)

or

Morgan Stanley (dont know what to make of them)

Plenty of cards but which is going to be most helpful for my situation?

Any help appreciated, I'm pulling what little hair I have left, out now.