The Best Balance Transfers article discussion area

leaphaze

Moggles wrote:

I've been an Egg customer since 2001 and I've taken advantage of the bank's unique 0% anniversary offers every year until now.

In May, Egg introduced a 2.5% balance transfer fee with no maximum payable. IMO, uncapped balance transfer fees are best avoided unless the 0% period is protracted.

Worse still, the balance transfer fees are treated as purchase transactions which sit on your bill attracting interest until the 0% balance transfer is paid off. I wouldn't touch this year's balance transfer deals with someone else's barge-pole.

Been there - done that.

Anyone in the same position should consider Egg's 'Egg Money' Card. It's a hybrid, which can work like a credit card, and a savings a/c. Should be no problem getting one if you already have a Egg credit credit. Best thing is it's B/T's are fee-free.

See http://forums.moneysavingexpert.com/showthread.html?t=289112

amc1

What's generally seen as the best balance transfer deal at the moment (0% interest for n months). I've seen the advice re. the marbles card but are there any more good ones.

Thanks,

amc1

What's generally seen as the best balance transfer deal at the moment (0% interest for n months). I've seen the advice re. the marbles card but are there any more good ones.

Also, can anyone provide the URL links to these please...

"If only a fee-free 0% balance transfer will do, I would have a look at the Norwich & Peterborough card issued by Halifax, the Stroud & Swindon card supplied by the Co-op bank and the Ulster Bank card operated by Royal Bank of Scotland. "

Thanks,

YorkshireBoy

amc1 wrote:

Also, can anyone provide the URL links to these please...

https://www.stoozing.com/0fees.htm

SandraT_3

Thanks to the maturity of an insurance policy I have been able to clear the balance on my Barclaycard as well as paying off some other debts. However, I still have about £3,000 of debt and tried to take up Barclaycard's offer of a 6% Balance Transfer for existing customers. I was declined. I have never defaulted on any payments to Barclaycard and have been a customer for many years. The offer states that if you have sufficient funds then you can do a balance transfer. I only wanted to use half of my credit limit. They advised me to check my Credit File which states that I have a 'fair' credit record. There is nothing contentious other than on a couple of accounts that are not paid through direct debit I may have paid a week or so late. I also don't understand why they would carry out a credit check on an existing customer with an excellent repayment history.

Any advice out there.

Many thanks.

rjtyrell

Hi Moggles,

Thanks for your reponse ref:-

Just after some advice, my girlfreind has £1500 on one card and £2500 on another so 4K in total which needs to be transfered, what is the best card to transfer this to, preferably no transfer charge and a 0% for while if poss?


I have seen the capital platinuim one card which is 2% BT and 0% until Jan 2008. Any views on this?, is it the best 0% BT around at the moment as its 15months at 0%?

Thanks.

leaphaze

2% for 15 months loan, can't be bad.

Moggles_2

Uncapped balance transfer fees are best avoided IMO, unless the 0% interest is offered for a protracted period as with this Capital One deal.

If you apply this week though, you won't get 0% for 15 months - effectively it's more like 13 months by the time you're up and running.

jodenice

Hi everyone!

My boyfriend and I are in the middle of getting a mortgage so will not do anything just yet that may leave footsteps on our credit file but as soon as its approved we desperately need to transfer off of his current credit card. He owes about £2K on a credit card which just higher than minimum payment is paid every month. The rates gone right up and I can't help feeling we could be better off somewhere else. Can anybody help as we've never done this before!
Jo x

leaphaze

YorkshireBoy wrote:

www.stoozing.com/0fees.htm

Following the above link, I got to:http://www.stoozing.com/cgi-bin/forum/YaBB.pl?num=1150821453 which casts aspersons on whether Stroud and Swindon's credit card has no B/T fee. Last posting dated Jul 16th 2006 so hopefully this confused situation will have been resolved by now.

Their T&Cs don't actually say BTs are fee-free during the introductory period. Their website doesn't clarify things either. Has anyone applied for an SS credit card recently? Are the BTs fee-free?