The Best Balance Transfers article discussion area

wendy1

Having been an HSBC customer for 15 years I applied for my first HSBC credit card as the '0% intrest on balance transfers 'till April 2008' seemed a good deal. However after completing the transfer I too recieved a letter saying the info sent in my 'terms & conditions' was wrong & the interest free period would end Jan 08.
Can they do this after the agreement was made? They are still advertising 15th months interest free on balance transfers - can I do anything about this?

LouBlue

Hey everyone

I have a Halifax card with about £1000 on it and my OH has a Capital One card with the same amount. They are both on STUPID interest rates!

What are the best deals around for balance transfers???? Sorry if its been covered, its a very long thread! :rolleyes:

I don't have a job at the moment, but I will have soon. Will that be taken into account?

Many thanks

rmitch

I have a m&s &more credit card 3.9 % life of balance(1 month old) which i have transferred a balance from my barclaycard to. I now need to spend about £2000 which is what is left on my m&s card could i spend it on my barclaycard (the same one)and transfer it again to my m&s card ? many thanks:confused

vikinggeoff

wendy1 wrote:

Having been an HSBC customer for 15 years I applied for my first HSBC credit card as the '0% intrest on balance transfers 'till April 2008' seemed a good deal. However after completing the transfer I too recieved a letter saying the info sent in my 'terms & conditions' was wrong & the interest free period would end Jan 08.
Can they do this after the agreement was made? They are still advertising 15th months interest free on balance transfers - can I do anything about this?

I have recently applied and have recieved the same letter, I am going to send a e-mail to Bryan Leitch Head of Card Operations who sent the letter and pointing out they are changing T & C from the orginal offer which they are still advertising and asking Him to honour the agreement

stuartd_3

Hi, newbie here,
Just applied for HSBC credit card to transfer balance and got hte 0% til April 2008, as did everybody above. I, too have just recieved the same letter saying it is now until 1st Jan 2008.
Is it the best option for everyone to write to this Bryan Leitch and request they honour the original agreement?

RyanBlais

HSBC should honour the original agreement for you guys...
when they do the balance transfer they put in a specific code to authorise how long the offer lasts & the rate it is at... Credit Cards Svs cannot change this once it's effective...

Plus it's been advertised all round the uk on their website & marketing maillings. If they give you any hassle, call cards svs and speak to a manager as they can overide any decision made by a CSR or a Team Leader.

P.S - A rumour has it the 0%offer should continue for a bit, but thats just a rumour

LouBlue

LouBlue wrote:

Hey everyone

I have a Halifax card with about £1000 on it and my OH has a Capital One card with the same amount. They are both on STUPID interest rates!

What are the best deals around for balance transfers???? Sorry if its been covered, its a very long thread! :rolleyes:

I don't have a job at the moment, but I will have soon. Will that be taken into account?

Many thanks

Anyone? :rolleyes:

mrn2007

Evening everyone,

I'm a newbie and I wonder if someone could help me work something out regarding a balance transfer.

I have just got an &MORE credit card and I'm planning to transfer my HSBC MasterCard balance to it. At the moment this stands at approx. £1,500.

I'm trying to work out what my monthly repayments would be on that. (I realise 'monthly repayments' may be the wrong term - as I say, I'm no expert.)

The reason I want to know this is because I may decide to clear my overdraft with my MasterCard before transferring the balance. This would increase the balance to transfer to approximately £3,5K.

Before I do this I need to know if I can afford to re-pay this every month.

I spoke to a very nice lady at &MORE who did her best to explain things to me, but it doesn't seem to make any sense.

According to her, every month my remaining balance on the card will have 3.9% interest added to it. My required minimum payment is 3%. This would mean that my balance would increase every month, right?

So if I increase my monthly payment to, say, 5%, I start making more of a dent on my balance - yet, having done some calculations on a spreadsheet it looks like at that rate it would take me something like SIX YEARS to re-pay £1,500 at 3.9% interest.

That can't be right, can it? Is she wrong? Am I calculating something wrong (very possible)?

If anyone has the time and inclination to help me work this out I would be very very grateful.

Thank you.

mrn2007

LouBlue wrote:

Anyone? :rolleyes:

I have read on Martin's email more than once that the &MORE card that I've got is one of the best for people who can't/won't 'tart' with 0% balances. I don't know if you need to have a job to apply - perhaps you could get it in your OH's name if that's a problem.

LouBlue

mrn2007 wrote:

I have read on Martin's email more than once that the &MORE card that I've got is one of the best for people who can't/won't 'tart' with 0% balances. I don't know if you need to have a job to apply - perhaps you could get it in your OH's name if that's a problem.

Thank you.