The Best Balance Transfers article discussion area

jinkssick

susanbythesea wrote: »

Hi folks, l am coming to the end of a 0% interest credit card with sainsburys and have had a look at whats about and am favouring the tesco credit card, it has 0% on transfers for 12months but only 2% charge on balance transfers. l have £1000 to transfer which l am currently paying off at £20 per week which l will continue to do so should be about clear by the time of the end of the 0% rate finishes, it also offers clubcard points, my 2 questions are 1. do you accrue clubcard points for balance transfers? and 2. does anyone have a tesco credit card and is it ok?
many thanks
Sue

you will not incur points for BT´s. but you can use it and pay it off each month to take advantage of points.

it is widely used.

m00head

I think it would be useful if the actual bank behind the credit card was put in brackets after the brand name of the card in the Balance Transfer article, to make it easier to check that a balance transfer between different cards are not actually the same bank as shown on the following website:

http://www.stoozing.com/cards.htm

veggie4life

all ur posts have been have been refering to this site suspicous? Just a little

MonkeyBoy

Recently, i was accepted for a Barclays ' Life of The Balance' card which carries an interest rate of 5.9% until the balance is paid. The purchases rate is 14.9% but this isnt an issue as i dont intend to spend on it!

Did i get a good deal??

My reason for seeking out a card such as this is because First Direct 'hiked' the APR of my 'Classic card to 20.9% !! Since transferring as much as i could to the new one i have reduced the limit of the FD card by £1000.

Will this hurt my credit score? I am going down the right road to becoming debt-free??

MonkeyBoy

gwernybwch,
pls take a look at my last post re Barclays....it was fee free!

mox03

Hi, first post. iIve been following Martins advice re card tarting very sucesfully for some time. However, i've recently ran in to a problem which someone may be able to explain. I applied to Nat west Platinum and was accepted, but when the card arrived, they had only offerd me £475 limit. as I wanted to transfer £2,000 this is of no use to me. I phoned them and was told that they do not increase credit limits until after 6 months,( by which time the deal will only have three months to run). I've never experienced this before and have a good salary and good credit rating. Anyone have any idea whats going on?

Moggles_2

Hi mox03!

Welcome to the credit card board & congratulations on your previous success!

Natwest is not known for its generosity with credit limits. That said, you've been handed a low limit.

Do you hold other cards from the RBS stable?
Have you checked the available credit showing on your credit report recently? (Even cards with a zero balance are viewed as available credit unless marked "settled")

This is not really a best balance transfer question and you may get replies more quickly, if you post again on the main credit card board.

Best of luck
M

readie74

hi all,

Have just applied and been accepted for a new RBS Platinum card but I have since gone back and read some small print ref the charges for balance transfer.

The summary box quotes "Balance transfers subject to a fee of 2% (min £5) during the first six months from account opening unless you qualify for exemption from that fee or are notified of a different fee under the terms of a special offer we make in connection with your application"

My questions are, does the above mean that they will charge you 2% for the transfer every month for six months or is it a one off payment that has to be made within the first six months?? Or is it that you can transfer a balance during the first six months for a 2% fee??

After looking at it I think the latter but it would be good to know before I take the transfer plunge!!

Any advice greatly received!!

Readie

Moggles_2

Hi Readie

Welcome to the credit card board!

The 2% handling charge for balance transfers made in the first 6 months from account opening, is a one off payment.

Best of luck with your transfer plunge!
M

meerustar

Hi all. I'm a regular on these boards but not on this thread and looking for some advice.

I have a CC with Cahoot and owe £2300. APR is 11.9%.

I want to shift this to something better to pay off.

I currently pay off £50 per month by direct debit so looking to keep payments the same, just want to reduce the interest.

I've had a nosey at Martins page and informative as it is, I get confused with all the different types.

Anyone have any advice for the best card to go for.

I don't think my credit rating is tops, but it's not bad either.

Thanks