when applying for cards

conradknight

I want to transfer the balance of my existing credit cards £ 2900 ( egg ) £2300(mint) onto another card or cards as my deals are now up. I am applying for cards at the moment but was wondering if I should declare that intend to use the new card to transfer existing credit cards debt onto it or will this affect my applictation. The assistants always seem to ask if you are using it to make a balance transfer and I never seem to know whether to be honest or not.

gbmacqueen

Martin has reported a good balance transfer card in his last update, that might be worth looking at.

Apart from that honesty is always my policy.

Moggles_2

Completing the balance transfer request on a credit card agreement can sometimes speed things up by a day or two, but unless you've already been accepted and told your credit limit, it's best to keep your options open, IMO, and leave this section blank or if asked, state you may be interested.

Of course, you might want to commit yourself to a balance transfer if you're short of time, have no other option anyway and/or believe the balance transfer could influence the credit limit eventually offered. (I've no real evidence for the latter, just a suspicion that a BT may sometimes influence the credit limit on a new card.) If that's the case, there's no need to be coy, IMO. The low-interest promotional rates on balance transfers are offered after all because lenders want your business.