The Best Balance Transfers article discussion area

reheat

Hi,

I've just got a Sky credit card with 0% BT and purchases till Jan 2008. Got lots of debt to transfer across to it from previous card, which will incur the inevitable 3% BT fee. Interested to know if anyone has found a natty way of buying something that you can then sell again with no loss or costs, or at least less than 3% loss. If I could buy something with the new card and then sell it to pay off the old card the DIY-BT cost could then be less. But I'm very risk-averse, so would not be looking to buy something I could not be certain of reliably selling again.

Long shot I know, else everyone would be doing it, but thought it worth asking.

Thanks

emmaBZ

does anyone know if i can transfer balance from OH visa card onto a card in my name....?

Phoenix79_2

emmaBZ wrote:

does anyone know if i can transfer balance from OH visa card onto a card in my name....?

Yes you can. It only asks for card number and amount to transfer not the account holders name. Remember though that you will be fully liable for the debt.

jfl981

Hi all,

I am looking for a 0% balance transfer deal which will allow me to transfer my debt of about £1,500 from a Canadian visa card onto it. Ideally it would be 0% for 9-12 months or more.

Does anyone know if there there any UK cards that allow this?

I feel I should mention that my credit rating is fair (3* with equifax). From Martin's site it looks like the HSBC card is the best deal but I fear I may not qualify.

Also, once I get the card, will it require an additional credit check for them to approve the BT?

Many thanks for any help:o .

udydudy

disaster65 wrote:

Hi, i'm wondering if any of you clever MSEs can help me. Bit overwhelmed by all the info. Situ as follows: Egg visa £11,500. Mint visa £3,200. Virgin MC £2,300 and cahoot flexi-loan £9,000. Scary total of £26,000. Due to losing business thru back injury and paying mortgage/living/everything with CC for 2 years. But I have £13,000 due any day and don't know where to spend it for best results.

Original plan to pay off most of credit cards and keep loan I'm not so sure about since Cahoot interest went up to 14.9% (it was 5.8% when I took it out!!!)

Disaster65

depends on your limits, interest rate(that you are paying) on the different cards/loans. if you are up for a good interest from egg, call them and ask if there is any promotional interest on your account. if so then first pay egg off, then balance transfer the max allowed on egg art the promotional rate into virgin. that will leave you with a credit balance on virgin. call virgin and ask them for a promotional, they normally have 2% for 9months to 1 year with no fee if you are good at talking to them. Balance transfer the max amount(95% i think) to your current account.

then with this pay off your cahoot loan which seems to be a bit expensive. This way you would have your egg at lower interest rate for 5-6 months(which is their normal period for BTs AFAIK). 9 months to 1 yr on virgin card normally and cahoot will be done away with. and you would have approx 4000 in the bank after paying the cahoot loan. (i.e. 13000 - 9000).

best of luck

Vambo_2

Regarding Balance transfers and 0% rates, tarting etc. :

Just about every major and most minor credit cards are now "managed" by MBNA especially the plethora of 'Mastercards'

***MBNA does not allow balance transfers from other MBNA cards ! ***

I unfortunately have three MBNA cards ! I discovered my bank (A&L) had farmed out their credit facilities to MBNA - only after I had applied for an MBNA card ! Result - unable to make any transfers. Damn.

While hunting for another card to shift the balances to - I discovered the shocker, that just about every damn credit card on offer is backed by MBNA.
At least the decent 0% ones.
It appears a damn sight harder to tart under these cirumstances !

**Check the small print on the card you are applying for and check your current cards *** Steer well clear of MBNA unless you have no current MBNA cards.
Ta

cchelp

HI, Iv searched the forum but couldnt find any help on this. I want to claim back charges on my credit card for the last few years but also want to balance transfer to a 0% for a year and pay it all off. Is it possible to do both and if so, in what order. Can you claim back charges after a balance transfer?

chivalry21

Hi All,

I'm not sure if this question has been asked before, I couldn't find it in the search.

If I transfer a balance to MS&More at their 3.9% interest rate and don't make any purchases. Is the interest that accumulates on the card also charged at 3.9% or is it charged at their standard rate?

Just how sneaky are these companies?

Thanks in advance.

mark_casey

another place to see all the 0% deals and also who owns each card try the stoozing website
https://www.stoozing.com

doodle_bug

disaster65 wrote:

Hi, i'm wondering if any of you clever MSEs can help me. Bit overwhelmed by all the info. Situ as follows: Egg visa £11,500. Mint visa £3,200. Virgin MC £2,300 and cahoot flexi-loan £9,000. Scary total of £26,000. Due to losing business thru back injury and paying mortgage/living/everything with CC for 2 years. But I have £13,000 due any day and don't know where to spend it for best results.

Original plan to pay off most of credit cards and keep loan I'm not so sure about since Cahoot interest went up to 14.9% (it was 5.8% when I took it out!!!)

So what to pay? what to transfer? what order? Do I start applying for cards? Do I pay off existing before applying for new? Virgin must go - not happy with them. Egg have always been good to me so happy to keep but been with them over 8 years can i get the anniversary deal?

Credit rating 4* with call credit and Equifax but only 1* with EXPERIAN (couldn't find me on Electoral Roll). Have been up to 2 months late with payments in past but currently up to date. Main problem seemed to be no searches ie no new credit applications. Was SCARED to apply when not earning!!! so been paying £600 /month in interest for last year or more.

so HELP HELP HELP as I don't know where to start

ps I have been spreading the word of MSE - at citizens advice, in the pub, to friends and family. Just not been taking my own advice!

Here's hoping!
Disaster65

I'm not an expert but I'd say the last thing you want to do is get any more credit cards. What you need to do is speak to the companies you owe the money to and tell them your situation, get the interest frozen and arrange how you are going to pay them back. Keep the money you are going to get don't pay anything off with it, the chances are by making the arrangements to freeze interest rates you'll find it hard to get credit so keep spare money for emergencies.
There are threads on your situation elsewhere which should give you the advice you need.