Complicated Balance Transfer

bigDaddyCraig

Not one to bore my fellow readers but a quick summary of my situation;

Former International business specialist, worked in UK and USA (am a UK citizen). Have a credit card with a major US bank but want to tranfer balance on credit card to a low interest UK card to better manage acount and make use of preferential exchange rate on balance transfer.

I have already applied with my own bank, Lloyds TSB for their credit card and balance transfer offer but they could not transfer the balance from a US card.

Anyone know of a UK bank offering good balance transfers but will also be able to accept transfer from US bank?

M_Thomson

bigDaddyCraig wrote:

Not one to bore my fellow readers but a quick summary of my situation;

Former International business specialist, worked in UK and USA (am a UK citizen). Have a credit card with a major US bank but want to tranfer balance on credit card to a low interest UK card to better manage acount and make use of preferential exchange rate on balance transfer.

I have already applied with my own bank, Lloyds TSB for their credit card and balance transfer offer but they could not transfer the balance from a US card.

Anyone know of a UK bank offering good balance transfers but will also be able to accept transfer from US bank?

There aren't any that will do a straight transfer to a card with a bank in a different country. You may be able to get a MBNA Card, and do a transfer to your UK current account at 0% for 12 months. This will come with a 3% fee with no maximum. You can then do a foreign transfer to your US card from your UK bank. You may have some trouble getting a UK credit card with anyone that is not your bank if you have not lived in the country for a while. It's a catch 22 situation.

The_doomed

can you just transfer to another card, withdraw it and pay your us card off?

M_Thomson

The_doomed wrote:

can you just transfer to another card, withdraw it and pay your us card off?

DO NOT do this. The OP needs a card which will do a transfer to his current account with a card such as MBNA, then do a foreign transfer to his overseas card. NEVER take cash out on a card to pay off another card. This is nearly always at an APR of 20% plus. And also has a fee of around 2.5%.

asharon

ask egg if they do or american express.

M_Thomson

asharon wrote:

ask egg if they do or american express.

If they do what? Transfers to US Cards?