The Best Balance Transfers article discussion area

Moggles_2

Originally Posted by 8alotofdebt
I found a website that helped me shop around. It had all the major credit cards on one site ...

This is a North American site of no use to MSEs in the UK.

Also, I believe it's important to point out that, unlike MoneySavingExpert, it’s a profit-driven service that lists most, but not all best buys, due to its commercial relationships.

You can get BT suggestions here on MSE, if you click on Martin's *Best Balance Transfers* article.

For a comprehensive list of 0% balance transfers and life-of balance cards, updated regularly, see also: http://www.stoozing.com/0fees.htm which is sponsored by
Money Saving Expert

crimbo_2

Hi, this is my first post. I closed my Capital One card in Aug 06. How long do you usually need to leave it before applying to shift a balance back? I know the minimum is 6 months, but does anyone have any experience of this.

Babbler

Moggles wrote: »

While the majority of lenders now charge balance transfer fees - a trend started by MBNA - just three, AFAIK, charge interest on BT fees.

Barclaycard, LTSB and Royal Bank Of Scotland treat these handling charges as purchase transactions which are paid off last, so the BT fee is left sitting on successive monthly statements attracting interest.

In the case of RBS, I believe you can pay the handling fee with your first monthly payment and avoid this practice.

I got worried when Im read this as I had a BT about 6 months ago with Barclaycard (£1500). No trave of interest on the transfer fee though...

Moggles_2

Originally Posted by crimbo
I closed my Capital One card in Aug 06. How long do you usually need to leave it before applying to shift a balance back? I know the minimum is 6 months, but does anyone have any experience of this?

I closed my Capital One card in November 2006 and signed up with C1 again recently. You'll be fine

Moggles_2

Originally Posted by Babbler
I got worried when I read this [Barclaycard charge interest on BT fees] as I had a BT about 6 months ago with Barclaycard (£1500). No trace of interest on the transfer fee though...

Barclaycard says it's now dropped this practice. Thanks for posting.

crimbo_2

Moggles wrote: »

I closed my Capital One card in November 2006 and signed up with C1 again recently. You'll be fine

Thanks for the response!:T

twhurl

Hello,

I have a Virgin atlantic 6 month 0% that will be expiring soon. Will I be able to transfer the balance whilst retaining the same credit limit onto their regular Virgin card ?

Thanks for any help

Moggles_2

Originally Posted by twhurl
I have a Virgin atlantic 6 month 0% that will be expiring soon. Will I be able to transfer the balance whilst retaining the same credit limit onto their regular Virgin card ?

I take it you have a Virgin credit card as well as a Virgin Atlantic card.

If you request a balance transfer from your Virgin Atlantic card to another lender, this will not affect the credit limit on your Virgin card.

YorkshireBoy

twhurl wrote:

I have a Virgin atlantic 6 month 0% that will be expiring soon. Will I be able to transfer the balance whilst retaining the same credit limit onto their regular Virgin card ?

Moggles wrote: »

I take it you have a Virgin credit card as well as a Virgin Atlantic card.

If you request a balance transfer from your Virgin Atlantic card to another lender, this will not affect the credit limit on your Virgin card.

I read the question differently Moggles.

OP, if you apply for a Virgin Money card, MBNA will take your credit limit (and, more importantly, your current indebtedness to them) on the Virgin Atlantic card into account.

Even if you did get accepted, you wouldn't be able to BT the debt over directly; you'd have to 'super balance transfer' it via your current account.

Maybe best to look for a different provider?

twhurl

YorkshireBoy wrote: »

I read the question differently Moggles.

OP, if you apply for a Virgin Money card, MBNA will take your credit limit (and, more importantly, your current indebtedness to them) on the Virgin Atlantic card into account.

Even if you did get accepted, you wouldn't be able to BT the debt over directly; you'd have to 'super balance transfer' it via your current account.

Maybe best to look for a different provider?

That is the correct situation. I dont have a Virgin money card yet. I would like to make sure I can BT with my current credit limit so I thought Virgin would be a good bet. Is virgin Money the same as the regular Virgin MBNA card ? If I cant BT to virgin MBNA from Virgin Atlantic I will have to find another one