BA American Express Balance Transfer Con

suefink

I recently got a BA AMEX card offering balance transfers at 4.9% APR for the life of balance if they are made during the first 6 months. So I arranged a transfer and was lead to believe it went through ok. Today I received a letter saying the balance transfer was declined!!! I called the call centre and was told that I didnt score high enough in the credit check!!! even though I have plenty of credit limit available to cover this transfer. I really dont understand it, they are quite happy for me to spend all my credit limit at 19.9% APR and get into more debt, but have refused a balance transfer at 4.9% APR to pay off another card and reconsolidate by finances.

Has anyone else had similar problems with other companies??? This is the first time I have heard of being credit checked after you have been accepted for a card. I would never had applied if I knew it was pointless!!

CheekyHippo

Thats Terrible!!! :eek: Have never heard of this cheap trick before. So they are happy for you to spend at silly APR's but wont honour the balance transfer!!!! Wonder if this is due to the bank of england uping interest rates. :eek:

Mercuryrising

I have heard a lot about this on here. I got the Nectar card which did 5.9% LOBs and that was great since there was no fee but that was earlier this year when cards were marginally more generous.