The Best Balance Transfers article discussion area

optiplex_2

My existing 0% rate ends in 8 weeks, so I was going to apply for a Virgin card and transfer the balance (£2200)

BUT, we are currently trying to buy a house.

I am worried that if I apply for the Virgin card, and get declined, this will affect our ability to get the mortgage we want?
I check my credit rating regularly and it is all green, so I don't know why I would be declined, but I don't know whether I should chance it?

Any advice would be really great

Thanks
optiplex

Moggles_2

Hi Optiplex

Welcome to MSE!

This is not a *best balance transfer* question. Please post again on the main credit card board. You'll get lots of replies there.

Arian_Woman

Thank you for the welcome, Moggles.

The NatWest offer has been sent to me by post & starts off "As a valued customer we want to help you make the most of your NW credit card with our special BT offers."

Then there are 4 cheques attached (2 for each offer) to fill out to whoever I want to pay.
Offer is open till 28 Sept 07.

Have been tarting for 2 years & just concentrating on paying cards off (no purchases added), so this offer is very welcome.

optiplex_2

oops sorry Moggles, thanks

absfabs

Hi there,
probably a bit of a dim question, but can't see the wood for the trees just now.

My existing 0% deal is coming to an end, and I'm wondering if I should try transfer the full balance to a new 0% card incurring 1.75% fee (with Capital One ) or if I should pay off what I can first to reduce this amount.

Not been stoozing as such, as I've used 0% credit card deals to give myself a 0% loan for a car, but have put regular payments in a savings account and would be able to pay off 2/3 of debt.

Also - in case Capital One turn me down - how soon can I re-apply to Virgin as a new customer? I closed account 18 months ago.

Moggles_2

Originally Posted by Absfabs
My existing 0% deal is coming to an end, and I'm wondering if I should try transfer the full balance to a new 0% card incurring 1.75% fee (with Capital One ) or if I should pay off what I can first to reduce this amount?

Currently, Capital One has at least 3 deals on the go, the best two, IMO, as follows:

Capital One Platinum card: 0% on balance transfers and purchases until
1 August 2008. A 1.7% handling charge applies.

Capital One Balance Transfer card: 0% on balance transfers only (purchases 15.94% pa) until 1 April 2008 with no BT fees.

You don't say which card(s) you currently hold but, IME, C1 give generous credit limits, so I would go for it!

You have savings to fall back on so, if things don't go as anticipated, Plan B is still an option.

Moggles_2

Originally Posted by Absfabs
Can I re-apply to Virgin as a new customer? I closed account 18 months ago.

Yes. You are eligible to re-apply.

matrix999

Hi everyone,

Looking for a bit of guidance on something!

Mum has a personal loan with Egg at the moment with an APR of 7.9% and outstanding balance of approx £3500. The original loan amount was about £5500 over 72 months.

Does anyone have any suggestions as to ways to save interest on the remaining amount outstanding?

I though about a LOB transfer or a 0% offer but i'm unsure as to how to pay off a personal loan with a credit card 0% and LOB transfer???

Any suggestions?

Chichiuaua

Hi All,

I found this board today and I am so inspired by all your posts - I have started to rid myself of my £6,000 debt. I have whittled it down to £5,000 but with my new job (& Pay Rise) I expect to be rid of my debt by Oct 31st with my budget plan set out.

My question is this;

I want to transfer my balances onto a credit card with 0% offer (all I need is two months!!!) but every credit card I have applied for has turned me down. I have no idea why as I have been living off credit cards all my life and been their best friend but now they are forsaking me in my hour of need!!

I have never ever missed a payment - I've always been so good, so I don't know why I would be turned down.

I have tried Virgin & MBNA - both said no straight away...



Anyway, nice to meet you all - I'm off to read the credit rating threads as recommended above.

If anyone can shed any light on this for me in the meantime, praytell

cooldudecol

Does anyone know of any credit cards offering BTs at 0% for 12 months, but have a reputation of accepting people with poorer credit ratings?