Balance Transfer Mess

smh_poole

Hi All!

Ok, background...I have 2 cards, both of which were suspended when I declined an interest rate rise to 29%

I now have a Barclaycard Platinum on 17mth 0% B/T.

Problem is this: Barclaycard will not make a transfer to a suspended account - They need an active one. Nor are they offering money transfer.

So - I have no way of shifting my rotting debt onto my new card.

Bit fed up as I was full on 'Get this paid off' mode...not quite so now.

Any help/advice/ideas appreciated!

Thank you!

YorkshireBoy

smh_poole wrote: »

Barclaycard will not make a transfer to a suspended account

How did they know it was suspended? You didn't tell them!? So they must have got it from some CRA report? But I didn't think that information was recorded with the CRAs.

Any

What? That is a new one on me...

smh_poole

They knew it was suspended as it is also expired (Oct last year).

We've since been doing some research/making calls. Heres what we are doing:

1) Balance transfer for the sum of my nasty old cards to my wifes credit card, putting it in credit (Currently £0)

2) Ask my wifes credit card company for a refund, into her current account

3) Pay off my nasty old cards, from my wifes current account

Messy, and worrying me - We'll keep careful track of whats going on, but - we have confirmed with my wifes cc company that if we 'accidently' make a balance transfer putting the account in credit, we can indeed have the funds refunded into her current a/c.

Crikey - Fun and games!!! )

smh_poole

Forgot to mention, I have asked Virgin (One of the old cards) to re-activate the account and send me a new card (So I can make the transfer, then close it).

They refused! :mad:

YorkshireBoy

smh_poole wrote: »

They knew it was suspended as it is also expired (Oct last year).

That explains it then.

1) Balance transfer for the sum of my nasty old cards to my wifes credit card, putting it in credit (Currently £0)

2) Ask my wifes credit card company for a refund, into her current account

Messy, and worrying me

It would worry me too...because if they return the funds from whence they came (and some providers do!) then you've wasted a 2.9% BT fee.

Tell me your wife's card is not run by HBoS?...and that you're not making a substantial 4-figure BT?

smh_poole

Yep - The concern around losing the transfer fee is there, but the guy we spoke to at my wifes card co actually used the words 'standard procedure' in context with returning overpayments to account of choice, including bank account - So good chance of being Ok.

To answer your questions...No, which I'm guessing is a good thing!?

I'm Intrigued now...

Degenerate

One possible solution: Get a Halifax Clarity, or some other card that offers fee-free balance transfers at standard APR. Use that to pay off your suspended cards and then BT from Barclaycard to that. Of course, this assumes you can get one with a large enough limit and that your Barclaycard offer doesn't expire in the meantime.

Aside from that, I'd be incline to pursue the issue of Barclaycard's policy further. Doesn't seem right to me at all, although perhaps it is dictated by the limitations of the payment mechanism (ie not having a current card number to send the payment to).

bobbydrake50

That sounds like Barclaycard are telling you complete rubbish. My Egg card was suspended years ago (in their first cull) and I tried to do a balance transfer online with Barclaycard - I could'nt because it was asking for an expiry date and I obviously didn't have a card to get the info off. I rang Barclaycard and told them the situation and they just did the balance transfer over the phone with me just giving them the Egg long number. This was only last October so unless they have changed since I don't see why they don't do this for you.