Is it better to declare balance transfer at start of application, or wait?

danlightbulb

Hi all,

As per the title really, is there any difference when applying for a credit card, whether I declare the amount I want to balance transfer up front, or is it better to not declare any balance transfer and do it once the card is approved and the account opened.

I applied for a credit card recently (virgin), and got refused, but I think I made the mistake of declaring a £2400 money transfer up front. Maybe I should have just waited till the account was opened. I may have still been refused, who knows, but I can't help feeling the request for £2400 money transfer may have gone against me.

Thanks

danlightbulb

No-one know?

fozmcfc

I applied for a Virgin card and told them I had £3500 to transfer from an Egg card, I got accepted with a £6000 limit.

So really no there is no definative answer.

Just remember you can't transfer between same groups of cards, so for instance, Virgin are backed by MBNA so you can't transfer from any MBNA cards.

Also some people say you can't have two of the same group of cards, under some circumstances.

Not sure how well up you are on the balance transfer side of things, but the below link is useful to show cards available and who backs them.

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