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Unoffical Existing Customer Balance Transfers

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  • I'll be clearing my Barclaycard (finally) in a couple of days time after getting some bonus money in and a sale of a car.

    At the moment it's around 25% interest and I've not had any BT or MT offers for over a year, due to the general balance that was on the card (originally £11.5k, then down to £6k as of last month, will be £0 in a few days).
    As said, there's 'no offers available' in my account at this moment in time, so I just hope that when it hits zero, that it triggers something on the system.
    I've been with them for 7-8 years, but went over limit a couple of times in the last 7-8 months or so, which may be a bit of a flag against me.

    Anyway, I'll keep tabs on whether anything pops up for me in the next 6 weeks or so and will also go down the cancellation/retention route too and see if and what they offer.
  • Cornucopia
    Cornucopia Posts: 16,470 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Halifax keep sending me the same offers:

    - 24 Months 0% BT with 3% fee
    - 18 Months 0% Cash Transfer with 3% fee

    sometimes these come with a 50% rebate on the fees.
  • MBNA
    0% on BT till Jan 18 (3.5% fee)
    0% on MT till Jan 18 (4% fee)
    Nothing out of the ordinary; think these are just their standard offers.


    BoS:
    0% for 9 months (3% fee)
  • Virgin (existing customer deal) - BT
    12 Months 0% and 2% fee
    24 Months 0% and 4% fee


    last month, the deals were shorter at only 10 months and 18 months but fees were only 1.5% and 3% respectively. No cash to account offer this month, but last month there was with the same duration / fees as BT.

    As per usual the offers come and go.
    174 BPM >> CC Balance (0%) -£3,565.99 - Target DFD Dec 2017 >> Loan (Car) (3.1%) -£19,803.74 - Target DFD Nov 2020
  • Hi guys. I'm new to the Forum pages but just thought I'd share my credit card shuffle with you. I have around £6,300 on a Barclaycard Platinum card at around 23%. I called them today as my Bank - Natwest offered a balance transfer rate of 6.9% with a £24 annual fee. I was put through to a lovely lady in their customer service department who after hearing of the Natwest interest rate she offered the same rate of 6.9% on my existing balance with them for the next 2 years with no fees. This will bring my monthly interest down from around £122 to around £38. She also waived my interest for this month meaning my payment this month will come straight off my balance. I'm determined to pay this card off now within the 2 year reduced interest period. This will save me close to £2,000 over this period and all it took was a 20 minute phone call.
  • meantime
    meantime Posts: 59 Forumite
    If I take up balance transfer offers with my existing cards, Lloyds and Halifax, might they credit check or ask about my current income?
  • Despite their claim on this site that they offer "tailor-made deals", Santander were totally inflexible. I told them that I have run up too much credit card debt to ever be able to repay it at the current interest rates, which in Santander's case was an eye-watering 29.9%. They replied that they did not offer variations to the standard rate, contrary to what they claim in public.

    So they were lying about that.

    Barclays, on the other hand, were most accommodating. They immediately reduced their rate of interest by 25% from 29.9% to 21.9%, and they gave me a 3-month interest holiday.

    So Barclays told the truth.

    Happy news - I've recently got a 0% transfer with MBNA for a 3% fee, which means I've been able to transfer my balance away from Santander and close the account. So their refusal to budge has cost them a customer.
  • faddy
    faddy Posts: 508 Forumite
    Halifax have just sent me an offer for a 26 month BT or 23 month MT, both with a 3% fee. Previous offer from them was 9 months - I'm wondering if this new offer has gone out to all (eligible?) customers, or whether it was triggered because I recently used my card for the first time in many years.
  • sjb76
    sjb76 Posts: 20 Forumite
    Here's a list of the BT offers i've received in the last month.

    Halifax 26 months 0% with 3% fee
    Bank of Scotland 26 months 0% with 3% fee
    Lloyds 24 months 0% with 3% fee
    HSBC 20 months 0% with 2.9% fee
    Barclaycard 18 months 0% with 2.5% fee or 6.9% forever with 1.5%
  • Hi all

    On the back of this I just have a quick question.

    I have a barclaycard with a balance of £14k (scary) i have never missed a payment but my credit score isn’t good so I won’t be able to get a balance transfer with a new card, not with that limit any way!!

    If I phone up Barclaycard and they do agree to lower my interest rate for being a loyal customer will this impact my credit file in any way at all??

    I wouldn’t want this to look like I couldn’t keep up with payments etc ?

    Anyone who has successfully reduced rates checked the impact on their credit score?

    Thank you
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