0% balance transfers

Dave_H_1982

Hi guys,

Decided that I should transfer my credit card balance to a 0% deal and save some cash...

I'm not very experienced in these matters so would appreciate some advice.

I know that at the application stage you are given the option of saying that you would like to transfer a balance. I was wondering if it is necessary to declare your intentions? Would this reduce the chances of getting accepted for the card?

Is it possible to transfer a balance at a later stage if you say you don't want to transfer when making the application?


Cheers!


Dave

YorkshireBoy

Dave_H_1982 wrote: »

I know that at the application stage you are given the option of saying that you would like to transfer a balance. I was wondering if it is necessary to declare your intentions? Would this reduce the chances of getting accepted for the card?

Declaring your intention to BT, and stating an amount, probably won't impact on the credit limit given. Their systems will only grant what they think you're worth. The only benefit to putting the BT request value on the application is that it'll give you something to talk about during an appeal (hopefully with an underwriter), should you not be granted a sufficient initial limit.

Is it possible to transfer a balance at a later stage if you say you don't want to transfer when making the application?

Usually yes, but check any specific conditions attached to the application.

SCO

Dave_H_1982 wrote: »

Hi guys,

Decided that I should transfer my credit card balance to a 0% deal and save some cash...

I'm not very experienced in these matters so would appreciate some advice.

I know that at the application stage you are given the option of saying that you would like to transfer a balance. I was wondering if it is necessary to declare your intentions? Would this reduce the chances of getting accepted for the card?

Is it possible to transfer a balance at a later stage if you say you don't want to transfer when making the application?


Cheers!


Dave

No you dont need to do it on the app, only thing that will do is if you are accepted and have a suitable credit limit they will transfer the balance when they open the account.

Yes you can transfer a balance at a later stage, but to get the 0% rate most lenders impose a 90 day limit. After that you will transfer at standard rate i.e 16.9%.

Plus remember to add in you balance transfer fee usually around 3%.

zezo1208

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ade-shows have become more popular in the past decade, both worldwide, and here at home in the UK. Many businesses have found a new niche marketing exclusively to those who utilize trade-shows as a major part of their business model. Having things under control, and an informed idea about what to expect in terms of sales, events, and income are all things that a new exhibitor thinks of first. Here are some tips that might help you in areas that you have not thought of in the past.

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fozmcfc

Dave_H_1982 wrote: »

Hi guys,

Decided that I should transfer my credit card balance to a 0% deal and save some cash...

I'm not very experienced in these matters so would appreciate some advice.

I know that at the application stage you are given the option of saying that you would like to transfer a balance. I was wondering if it is necessary to declare your intentions? Would this reduce the chances of getting accepted for the card?

Is it possible to transfer a balance at a later stage if you say you don't want to transfer when making the application?


Cheers!


Dave

These question have now been answered, another thing to consider is that you cannot transfer between cards that are run by the same company.

For instances between an MBNA card and a Virgin card, because the Virgin card is backed by MBNA or Thomas Cook's credit card to a Barclaycard, because the Thomas Cook card is backed by Barclaycard.

See this website which contains most of the balance transfer deals around plus it tells you who runs/backs what card.

http://www.stoozing.com/0fees.php

Dave_H_1982

Thanks for all the tips!

sheslookinhot

there is no point applying for a balance transfer card and not using it immediately. The clock starts right away on the 0% period from acceptance.