i want to do a balance transfer

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HELP..
i want to do a balance transfer ..
£7400
i want 0% apr
0 - low transfer fee (2.5% OR less)
short term is ok
balance will be paid off in june 2011
no further purchases will be made
good credit history
currently with MBNA

which card do you recommend ???

Comments

  • stephane_2
    stephane_2 Posts: 3,076 Forumite
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    What is your income?
    Any other debt?
    What is the credit limit on card?
    How is your repayment history?
  • terrierwjb
    terrierwjb Posts: 3 Newbie
    edited 26 October 2010 at 11:52AM
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    ddddddddddddddd
  • stephane_2
    stephane_2 Posts: 3,076 Forumite
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    You may find it very difficult to get a credit card wiith the limit that you want...simply because your ratio debt to income is almost 60% which for many lenders will seems very high.....and you'll need to find a provider that would be willing to lend you an extra £8500 at least if you want to transfer everything
  • terrierwjb
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    i rang MBNA and they have reduced the APR from 29.9 to 9.9% for the remaining term.. do you think this is as good as i am likely to find ?
  • Tixy
    Tixy Posts: 31,455 Forumite
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    Considering how quickly you plan to pay it off that is not a bad deal
    Most card providers tend to have fees of around 3%.
    As you are going to pay it off quickly the interest you will pay will probably be not much more than that fee.

    Eg if you are going to pay off the balance by July in equal installments of around £820 you will only pay interest of around £250 which is not much more than the fee.

    And even if you got a 0% card it would be fairly unlikely to be a sufficent limit to transfer the whole amount to anyway. Most new card accounts start with a low limit (£2-3k) and increase it based on behaviour.
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
  • staffie1
    staffie1 Posts: 1,966 Forumite
    First Post Photogenic First Anniversary
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    stephane wrote: »
    your ratio debt to income is almost 60%

    How did you work that out..?
    If you will the end, you must will the means.
  • stephane_2
    stephane_2 Posts: 3,076 Forumite
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    staffie1 wrote: »
    How did you work that out..?

    What do you mean...it is pretty simple....might not be the exact figure but will not be far from it.....
  • [Deleted User]
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    staffie1 wrote: »
    How did you work that out..?

    debt / income as a percentage

    info was given in a deleted post
  • staffie1
    staffie1 Posts: 1,966 Forumite
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    stephane wrote: »
    What do you mean...it is pretty simple....might not be the exact figure but will not be far from it.....

    How do you know what their income is, that's what I mean
    If you will the end, you must will the means.
  • stephane_2
    stephane_2 Posts: 3,076 Forumite
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    staffie1 wrote: »
    How do you know what their income is, that's what I mean

    The post has been deleted....
This discussion has been closed.
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