The Best Balance Transfers article discussion area

hello123_3

That notice about reading the article before posting is surely aimed at me....BUT, I did read it and it just makes my head spin.

Here's my situation. The 0% on my MBNA card is up in November. I've got £1700 on it and the ability to get that down to £1000 now. I have a Big legal bill (£4000ish) parked on my HSBC 0%, and I pay about £150/month on that.

I have a regular Barclaycard, which I keep clear and which has nothing on it.

I have to pay the balance on the ski holiday which is the kids christmas present by the end of October (£2600). I'd like to get a new 0% card to transfer the MBNA balance to and also put on the holiday spend (0% purchase therefore required).

What should I do?

calvin77

Advice please.I have a £4000 CC balance. I applied online for what I thought was a Capitial One balance transfer 0% offer, but the offer that comes through the post is for 34.94% on balance transfers. What have I done wrong?

Gillybilly_2

This is my third attempt to get my first post on the board, hopefully it will be successful.... Have successfully tarted cards for a while, even when we dramatically downsized our income 2 years ago, however the sea of change has arrived and we have had our second credit card refusal in as many months... (Ulster and Capital One)..

I obtained the Experion credit report and although it does show a lot of credit card history, there are no missed payments, defaults etc so not sure why credit rating seems to have changed from excellent to fair in the space of a year...

There were 54 address links to the report of which only 3 actually applied. Would this have any bearing on our ability to obtain credit and if so how do you get rid of them... Most were of people with same name.... (Better explain that all the info obtained is my partner's, as I am stay at home mum with no income.....)

What credit cards are likely to allow us to bt: -

current debt=

credit cards: -
1500 on M&S card ends Nov..
2000 on Egg ends next May

loans:-
20000 Northern Rock at 5.9% till 2015 (replaced mortgage)
3500 Clydesdale int free until Dec 07

Should I just consolidate and take a small mortgage??? HELP!!!

Moggles_2

Originally Posted by hello123
The 0% on my MBNA card is up in November. I've got £1700 on it and the ability to get that down to £1000 now. I have a big legal bill (£4000ish) parked on my HSBC 0%, and I pay about £150/month on that. I have a regular Barclaycard, which I keep clear and which has nothing on it.

I have to pay the balance on the ski holiday which is the kids christmas present by the end of October (£2600). I'd like to get a new 0% card to transfer the MBNA balance [of £1000] to and also put on the holiday spend. 0% purchases therefore required. What should I do?

The Capital One Platinum card offers 0% on balance transfers and purchases until
1 August 2008. A 1.7% handling charge applies.
Note: this card requires an "excellent" credit rating, so please check you can meet the criteria listed on the Capital One website before you apply.

Alternatively, have a look at the Ulster Bank Gold card (not to be confused with the Ulster Rugby card, which is a completely separate animal run by the Bank of Ireland.)
The Ulster Bank cards offer 0% on purchases and BTs for 6 months from account opening. There's no handling fee. Issued by the Royal Bank of Scotland, they're worth considering for balances in the region of £3,000-£4,000.

Moggles_2

Originally Posted by calvin77
Advice please. I have a £4000 CC balance. I applied online for what I thought was a Capitial One balance transfer 0% offer, but the offer that came through the post is for 34.94% on balance transfers. What have I done wrong?

Sounds like a Capital One starter card.

Which credit card(s) do you currently hold? Have you held a credit card for at least 5 years?

DBOYLE78

Hi Moggles,

Moggles wrote: »

I wouldn't cut up the Abbey card if I were you - not yet, anyway

M

Thanks for your sound advice, I'm about to go and apply for the card. One quick question before I do though. Why do you suggest not cutting up the Abbey card just yet?

I'll keep you informed how I get on!

Moggles_2

Hi DBOYLE78

Your Abbey card was issued by MBNA, but is now underwritten by Santander.

I believe Santander have some juicy offers in the pipe-line for former MBNA/Abbey customers with a zero balance

Very best
M

Moggles_2

Originally Posted by Gillybilly
Have successfully tarted cards for a while ... however we have had our second credit card refusal in as many months (Ulster and Capital One).

I obtained the Experion credit report ... There were 54 address links to the report of which only 3 actually applied. Would this have any bearing on our ability to obtain credit and if so how do you get rid of them?

Normally a link is created when you tell a lender that you have changed address or when you include more than one address on a credit card application. A linked address may also appear on your report because you have had a financial connection with that address, although you may never have lived there.

If you believe this information is wrong, I would contact Experian right away. Experian will contact the organisation(s) that provided the data and delete the links where appropriate.

What credit cards are likely to allow us to BT?

When comparing BT cards, there's almost always a trade-off between the duration of the 0% promotion and the charges payable. To maximise the 0% period, 15 months is available from Virgin. There's a 2.98% BT fee.

MSEs viewing this thread are interested in best balance transfers. Your post raises some other issues and you may get replies more quickly, if you post again on the main credit card board.

Dappysaver

Hi
Please can someone advise me! I have an outstanding cc balance of £3200. I used this card to buy the household food and pay this amount off each month. Therefore not touching the current balance which is ever growing! I understand that I need to pay more off in order to reduce this amount but was thinking that maybe I would be better off transferring the current balance to a 0% offer and having a different car to use for buying the food each month! I currently hold an HSBC mastercard.


What is the best way to go in order to get rid of the large amount outstanding. This is beginning to cause me to worry as I don't seem to be getting anywhere!

An advice greatly appreciated! Thank you!

Rob_The_Bantam

Afternoon. I've never had a credit card before. I've always considered this to be a non-issue, but looking at the Capital One 'Excellent' criteria makes me realise I'm missing out on some great interest free offers.

I'd like to get cracking on a 0% interest for x months deal and I'm prepared to pay a balance transfer fee to benefit from the interest generated. I have no outstanding debts aside from the mortgage and have made a few purchases on a store card that has been paid off every month in full.

Which would be the best card to go for initially? I'm happy to provide more information should the above not allow anyone to advise fully. And, yes, I know, it won't be financial advice that I receive ;¬)