The Best Balance Transfers article discussion area

luv_my_brass

Those are pretty much the calculations I use when taking out a new 0% credit card, tubster, but it's always nice to have the more experienced posters on here confirm that our calculations are correct.
I would like to know if I can apply for Barclays platignum card and take advanatge of this 14 months at 0%, as I already have a Barclay's credit card, but it's not platignum.

fjf_felix

Moggles wrote: »

Have you checked your credit reports lately? This is the information UK lenders see when you apply for a new credit card (For help, see the *How to obtain credit reports* sticky.)

In 10 years of credit card shuffling with more than 30 cards (not all at once of course), I've not known Capital One, or any other lender, to neglect to report my credit limit to the credit reference agencies.

There have been two or three posts from puzzled MSEs recently, who found no trace of a credit search following a C1 card application, but the lack of a footprint does not affect anyone's credit rating.

Many Thanks for your feedback.
Yes, I did check my credit report and all looks fine, I do have an excellent score. My concern was if by getting a C1 credit card that will affect the way other lenders see my report in the future due to C1 not reporting my credit limit. Anyway, I will try to get one and check again my credit report afterwards.
Cheers, Felix

tubster

Follow up on Barclaycard - seems you can make purchase and pay over phone before bill cycle date; mine is 6 Nov so buy something now, pay in a couple of days and balance transfer on 7th. I'll lose a couple of weeks interest, but I'll be happier knowing no interest is mounting up.

Moggles_2

Originally Posted by tubster
I've now got a Barclaycard, 0 per cent for 14 months and the max £5000 stoozing limit... but I want to get the promotional £50 voucher for a purchase.
If I buy something for a pound, I pay 14.9 per cent on it for a year and someone advised above that the minimum interest payment is a pound a month, which would cost 12 or 13 quid.

When applicable, the minimum interest charged by Barclaycard is £1 per month. You have 0% on purchases for 3 months from account opening, so you would pay £1 per month for 11 of the 14 months.

So how about I buy something now, pay it off as quick as I can, THEN go for the balance transfer, once I'm sure my balance is zero. Does anyone know how quickly it is possible to pay off a purchase on a card?

If you pay online from your bank, I would allow 5 working days. By debit card over the phone is usually the quickest way to pay

According to the stoozing calculator, I'd stand to make about £300 if I put the 5000 in ICICI savings account (basic tax payer); minus the 2.5 per cent transfer fee would be £125 plus £19 interest on the fee over the term which makes approx £150 profit. Come to think of it the difference in profit for an extra month would be £22, so maybe I should just make the purchase, do the transfer and not worry about the minimum interest fee.

The interest earned for an extra month, would certainly cover the cost of qualifying for the voucher. It's your choice really.

tubster

Thanks luv my brass and moggles; really appreciate second opinion
Tubster

Moggles_2

Originally Posted by luv_my_brass
I would like to know if I can apply for Barclays Platinum card and take advantage of this 14 months at 0%, as I already have a Barclay's credit card, but it's not Platinum.

This deal is for new customers only, but Barclaycard will write to you about existing customer offers from time to time.

I have Barclaycard Platinum, yet last week the bank sent me an invitation to apply for Barclaycard Breathe (0% on BTs for 12 months, 2.5% BT fee), so you never know what will turn up in the post from this particular lender

luv_my_brass

Moggles wrote: »

This deal is for new customers only, but Barclaycard will write to you about existing customer offers from time to time.

I have Barclaycard Platinum, yet last week the bank sent me an invitation to apply for Barclaycard Breathe (0% on BTs for 12 months, 2.5% BT fee), so you never know what will turn up in the post from this particular lender

Thanks moggles - don't you just hate it when you have to wait to be invited!
Still, ING invited me to open a saving account with them and gave me £100 for doing so. I passed this info on to family in the hope they could take advantage of this offer, but weren't able to because they didn't get an invite. :-(

jollyj_4

After doing my research on MSE, I decided to apply for the Citibank Credit Card, 5.8% life of the balance with no BT fee. I was approved but when I rang to make my BT, I was told that this offer was no longer available and that they could only offer me 0% for a year with 3% BT fee. I contacted their customer services who I guess are based in India, to complain. Tried to explain, gave up, then sent an email which when they replied to and made no sense as to whether or not I could have the original offer. Called again, tonight for the 3rd time, only to be told to call again on Monday during working hours. The offer is still being advertised on their website - surely they must honour this. Can someone tell me?

Moggles_2

Hi jollyj

Welcome to MSE & the credit card boards!

Sounds as though you were given duff information. This sort of thing happens to us all sometimes.

IMO, it's best to ring Customer Services, during normal business hours if possible, with your Ts&Cs to hand. As you say, the LOB deal is still advertised but, irrespective of what's on the website, it's the credit agreement you signed that counts

Let us know how you get on.

Very best
M

8alotofdebt

I have found that it is best to shop around with credit cards companys. I found a website that helped me shop around. It had all the major credit cards on one site. ALl their offers, like cash back, rewards and what the APR is. There are some that offer 0% for a period of time and they have cards for balance transfers. I had two high credit cards (32%) and I transfered them over to lower cards.
Here is the websiste...
www.mycreditcard.newcreditapplications.com

hope this helps some.