Unoffical Existing Customer Balance Transfers

Moggles_2

panopaea wrote: »

I phoned Halifax and got the 4.94 LOB deal on the 2K balance, clearing that card so I can transfer the other 3K to it on a new deal, although not sure that's better than opening a new card with Santander which seems a very good deal. I'm running out of options for LOB having used all the best ones already!

panopaea, may I ask which two credit cards (apart from Halifax, obviously) you're
referring to?

Your posts would be easier to follow if you named all three of the credit cards involved

avalanche_3

On asking to cancel my Tesco credit card I was offered either:

1.9% for 6 months with 3% balance transfer fee or
6.9% for life of balance with no transfer fee.:T

I took the life of balance option at 6.9%, far cheaper than any loan rate at the moment.

They also agreed to up my credit limit.

jpwjpw

Anyone who has a LOB offer from Halifax, can you post the code on here? I've been offered 6.95% with 3% fee but heard there are lower rate codes available. Worth a try It's shown on my internet banking screen.

~Chameleon~

Has anyone managed to get Egg (Visa) to give them a better offer than currently available?

As existing cardholder I've been offered 2.9% until July 1st (2.9% BT fee) but new cardholders are getting 0% until April 2011 (3% BT fee).... seems a little unfair lol

udydudy

OH called Halifax to cancel card an dthey offered 4.94% LOB with 3% fee. OH wanted nothing less than 12 months 0% on purchases nothing less!!!

So after 10 minutes of to and fro the card as expected is finally closed....

Though it was what we set out to do anyway. tried to see if 0% 12 months was availbale then it would have been good. but no go.

Our idea is to close all cards except 4 basic cards, 2 which we use for regular purchases and 2 MBNA afiliated ones which I am not happy to close as I love MBNA and their repeat offers.

Next to go is lloyds unless they offer 12 months purchases!!. Will keep you guys n gals posted

Moggles_2

Brian64 wrote: »

Panopaea, can you explain again, was the 2k with Halifax at 20% and you got them to put it on 4.94% LoB deal?

I guess we'll never know.

FWIW, I would doubt it. Panopaea has at least two other credit cards, though they're not named. It's not unusual to be offered a special LoB rate as a sweetener to attract new business, but it's not often that a lender offers to extend the deal to existing transactions. In fact it's almost unheard of. (Because of the payment hierarchy that's pretty standard across the industry, this would deprive the lender of a valuable source of revenue)

Brian64

Moggles wrote: »

I guess we'll never know.

FWIW, I would doubt it. Panopaea has at least two other credit cards, though they're not named. It's not unusual to be offered a special LoB rate as a sweetener to attract new business, but it's not often that a lender offers to extend the deal to existing transactions. In fact it's almost unheard of. (Because of the payment hierarchy that's pretty standard across the industry, this would deprive the lender of a valuable source of revenue)

Yes i thought it would be unlikely but the post was so confusing.
last year halifax offered me a lob transfer at 2.95% i transfered the max i could up to my credit limit 3 or 4 weeks later they increased my limit by 1500 and give me a new lob offer at the same rate which i found unusual but a great offer not many like that anymore.

8SID

what does lob mean?

Should I ask ym current card providers if they will give me a deal on transfers from my other cards? Would this effect my credit rating?

CannyJock

8SID wrote: »

what does lob mean?

Should I ask ym current card providers if they will give me a deal on transfers from my other cards? Would this effect my credit rating?

lob = Life of balance

Asking existing card providers for a balance transfer won't affect your credit rating.

RavingMad

Just rang Halifax and they offered me 4.94% LOB 3% fee. The number I rang was 0870 850 0243