Unoffical Existing Customer Balance Transfers

guesswho2000

I've just, for the first time, had an offer for transferring cash to a current account from Barclaycard. 0% until Oct with 2.9% fee, om top of the seemingly permanent 0% for 12 months on balance transfers.

Not amazing, and I have no need for it at the moment, but it's nice to know they do offer them every now and again!

emneva

I really shopped around and got a great deal on my balance transfer with Lloyds TSB, who charged 3.8% but then refunded half of that at the end of the first month. However, I have discovered it is SO HARD to physically pay this card off! They offer no option to make a payment through online banking (I have had cards with Virgin and MBNA in the past and this has always been a clear option entitled 'make a payment'). Worried I was approaching my payment date I rang them, debit card in hand, only to be told they don't accept payments from other banks (I have a Barclays account). I set up a direct debit but the initial payment was coming out after my first payment date, so I therefore had to physically go down to the branch, withdraw cash, and pay over the counter. This was very unexpected and inconvenient! When comparing great transfer deals, had I known how difficult this company is to deal with, I would have chosen the next best rate. It may have cost me £1 more but at least I could pay it off! Has anyone else had these problems?

sfax

emneva wrote: »

I really shopped around and got a great deal on my balance transfer with Lloyds TSB, who charged 3.8% but then refunded half of that at the end of the first month. However, I have discovered it is SO HARD to physically pay this card off! They offer no option to make a payment through online banking (I have had cards with Virgin and MBNA in the past and this has always been a clear option entitled 'make a payment'). Worried I was approaching my payment date I rang them, debit card in hand, only to be told they don't accept payments from other banks (I have a Barclays account). I set up a direct debit but the initial payment was coming out after my first payment date, so I therefore had to physically go down to the branch, withdraw cash, and pay over the counter. This was very unexpected and inconvenient! When comparing great transfer deals, had I known how difficult this company is to deal with, I would have chosen the next best rate. It may have cost me £1 more but at least I could pay it off! Has anyone else had these problems?

Just get the Lloyds account number and sort code for telephone banking from the back of your statement and use your credit card account number as a reference and pay online.

http://www.lloydstsb.com/advice_and_guidance/products_explained/credit_cards/statements_and_payments_credit_card.asp

sfax

Possibly the worst offer I've ever come across in the post today: 1 month interest free with 3% handling. Presume it's (yet another) mistake from beleaguered HBOS

softforge

sfax wrote: »

Halifax 12 months 0% with 3% handling fee. Received in the post today

Same here! I'm currently loving the Halifax!

ejb1983

Hello
Ive just received a letter from hsbc offering me a 0 % balance transfer offer its on an exsisting card it says I am currently eligible to transfer any balances upto my credit limit which is 10 000 pounds
If the letter says im eligible is this like already being approved meaning no more credit checks and waiting to be approved etc ?
How long does a balance transfer take to happen?

Its a really good offer im just not sure how it works I would definatley be able to pay off the other amount within the 0 % period which would be great as the interest rate on it is currently crappy.
Any help is great im new so apologize if this is in the wrong place

udydudy

ejb1983 wrote: »

Hello
Ive just received a letter from hsbc offering me a 0 % balance transfer offer its on an exsisting card it says I am currently eligible to transfer any balances upto my credit limit which is 10 000 pounds

yes it does as you are already a card holder..they send these offers to existing customers ....

ejb1983 wrote: »

If the letter says im eligible is this like already being approved meaning no more credit checks and waiting to be approved etc ?

and no credit check is done on your credit report... as long as you have had no adverse credit updates on your file...existing lenders keep checking your report without leaving a search...they do this regularly for reviewing your credit limits...

So go on and take the offer if you have balances on other cards and enjoy the cheap credit!!!!

ejb1983 wrote: »

How long does a balance transfer take to happen?

.anybodys guess they normaly say 7-10 days but in my experience of recent most transfer nowadays take place in 2-3 days due to the faster payment system. My last BT took 48 hrs to show up on my card from which I had transferred the balance(Halifax to barclays)

ejb1983

Thankyou thats a great help
Will sort it now

wilsonjames829

Its a really good offer im just not sure how it works I would definatley be able to pay off the other amount within the 0 % period which would be great as the interest rate on it is currently crappy.

bonjan

Just got a letter with a balance transfer and money transfer offers from Barclaycard, both of them with the same conditions: 0% interest for 12 months for a 2.9% fee. Current balance on the card is £0.

Both offers were available in my online account since a week ago.
The balance transfer offer can be acted from your online account as usual.
The money transfer offer requires you to call 0844 811 9101 (or 01604 230230 if you care about your phone bill).
Also the money transfer offer can only be paid into either:

• the current account your Barclaycard Direct Debit is currently setup against.
• any Barclays UK bank account which is in your name.

And then I did the mistake I shouldn't have done: I changed the fixed amount of my monthly Direct Debit in preparation for my application for the offer over the phone :eek:.
Don't miss that: if you have changed your Direct Debit details at any time during the last 60 days, they can not proceed with the money transfer until 60 days after the date of the Direct Debit change :shocked:.

So let's see, since I just did the change... I have to wait for two months.

"Right, but the offer expires in a month..."
"We're very sorry sir".

"Excuse me, such condition is not stated in the long and small terms and conditions at the back of the letter you sent me..."
"We're very sorry sir".

"But I didn't even change the bank account number, I just changed the amount I want to pay every month.
Actually I've had the same bank account ever since I got my Barclaycard as you can probably confirm on your side..."
"We're very sorry sir".

Nice one Barclaycard! :T

Long story short I ended up cancelling the card, even after the cancellations (or whatever she called it) department tried to keep me with longer balance transfer offers and even a 0% purchases offer.

So if you receive a similar money transfer offer and are considering applying for it, don't change your Direct Debit until your application has been completed and the money is paid in your bank account.
Of course if you happen to bank with Barclays you aren't affected by this.

Shame since it was the card with the highest limit (£8,000) and in my humble opinion they're still the best at offers for existing customers.
I can cope with a design flaw in their software, but I can't cope with them not willing to help in such situation.