Unoffical Existing Customer Balance Transfers

Tixy

btonyb321 wrote: »

I owe my co-op card £2000 I would like to transfer my money to another card. Firstly, does this mean I will have to pay the debt off without any interest for lets say 22 month. Then after that they will apply interest? Secondly, will my credit limit be reduced by the co-op on my first card on can I carry on with the same limit?

Do you mean you want to transfer the debt to a new card?

If you are able to obtain a 0% balance transfer card from a different card provider with a high enough credit limit then you pay a balance transfer fee at the start (typically 3% of the balance you want to transfer).
And then you pay no interest until the end of the promotional period (providing you pay at least the minimum on time every month).
Any balance left on the new card at the end of the promotional period would be charged at the new cards standard APR.

Your existing card provider, co-op, may decide to reduce your credit limit, or they may allow you to keep it at the level it is now.

Naomim

Barclaycard just offered me 0% interest on BT's until October 2013 (3.9% fee applies)

helen10191

Help

I have a baclaycard credit card with a massive 29.9% apr, really dont know why i have been that stupid but i have and i owe 3700, the annoying thing is if i tranfer a balance onto there the APR is 6.9 until paid in full. I then applied for a baclaycard interest free for 12 months got accepted whoo hoo only to discover cant tranfer between companies, the debt is killing me realy dont want to ask friends or family for help, no do i want to do any thing to effect my credit rating as have mortgage up for renewal Novemeber 2012 and my partner doesnt know about this debt, and its not an option to tell him, does any one have a ideas???

Jack2012

I'm afraid of losing money with my credit card... it seems is like this all the time... =C

jaki88

hi,


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thenudeone

helen10191 wrote: »

cant tranfer between companies,

Do you have ANY other credit cards which allow balance transfers? Even a sub-prime card?

If so, transfer the debt First to the other card (cost 3-4%)
Then transfer the debt to the Barclaycard at 6.9% for life (cost 3-4%??)
Even though you are paying two sets of fees it's still worth it because 6.9% is a hell of a lot lower than 30%.

Since your other card probably doesn't have a large limit, you should be able to do this repeatedly in smaller chunks until all of the balance has been transferred (or the 6.9% offer is withdrawn). But even if you can only move £500 it's still worth it. Then put every spare penny to paying off what's left at 30%

scott_lithgows

New BOS card to replace Cancer research branded one came with a 9 months 0% deal (3% fee).New Card is a sky blue version of the BOS card-very jazzy!!

thenudeone

Santander Zero.
Never used except occasionally for foreign purchases / cash
Letter received with offer of 0% BT til March 2013 statement for 3% fee (min £5)

jpwjpw

Barclaycard Gold

0% til 1st Oct 13, 3.9% fee. Not bad for an existing customer offer

scott_lithgows

RBS-12 months 0% (4% fee)