Unoffical Existing Customer Balance Transfers

nmiah786

DJ1UK wrote:

Just paid off a lump sum off my MBNA card and had a phone call offering me another 7 months 0% with no fee. Option also appears when I log into the MBNA site online.

DJ

I had the same from MBNA this morning but they would not budge on the transfer fee unfortunately!!!!

claz

okay as part of my "kick my other halfs finances into shape year" we decided to sort out the old credit card

halifax visa one account since he was 18 (thats 10 whole years now with the same card!!) with a wait for this 21.5% interest rate on it - £3,000 outstanding balance after the past few months of him really getting this money saving thing it has gone down from £9,000

after applying for a few of the good balance trasfer cards and being refused for 2 we realised soemthing was wrong so got a credit report for him

we realised that even though we just moved that the council had still not put us on the electoral register for our new house which was adversly affecting lenders willingness to give him a card

so we decided to call up the halifax and see what they could do

after been passed from department to department my oh finally got a deal of 0% on balance transfers for 12months and a 10% interest rate on new purchases which of course he won't be doing

he was really pleased that he had managed to handle it all himself as he has usually had to put me on the phone to do the hard bargaining

so to my gorgeous bloke who i know will read this WELLDONE and to all those other newbie money savers out there as he said it justs takes practice at negotiating so keep practising and the deals get better and better!

shockingmoment

Got a letter from Barclaycard. 0% for life of balance. No charge for transferring the balace (within 60 days). Just need to spend £25 per month.

Applied for the card anyway but has anyone tried this?

Margaret_Millne

Don't do it. All payments you make come of the 0% balance, and you pay full interest rate on the £25 a month you are spending - over time that really adds up. Sure Martin has commented on this one before - someone will explain it in more detail, but it is not a good deal!

budgie19

just new to this and would like some advice please. I have a credit card with debt of £1900. card is littlewoods visa. I am paying £32 interest every month and use about £25 per month which brings my monthly payment up to the min of about £60. I am now stopped using this card as I have obtained a switch card from my bank which will mean the £25 I use will come from my account. I do not think I will have any problem credit wise trying to transfer the littlewoods balance so could anyone tell me the best card to transfer to. I am approaching 60 and look after my disabled wife so do not have a job although we have a fixed income from a works pension and social security. no other debts. not a home owner. thank you for any help.

mooch

lowis wrote:

I am existing customer of MBNA, I cleared the card I had with them about 18 months ago and never use it, it just sits in a drawer gathering dust really (it's a left over from card tarting). Just got a letter from MBNA offering me a 0% BT for the card until March 07 - 3% fee to a maximum of £75. The letter says I can either call up to do the transfer or use one of the enclosed cheques.

I definitely won't use the cheque (very wary of those little suckers) but I am wondering if there is catch? Why would they offer this to me when I haven't used the card for over a year? or have i just answered my own question?

Just got this letter through the post this morning. Just in time to clear my Egg anniversary balance. I haven't paid a fee before so just wondering if I need to factor that into my max transfer amount.

MBNA say I can transfer 95% of my £15,400 credit limit, so I figure that's £14,630. Does anyone know if the £75 max fee will be added to my CC balance and also charged at 0% per annum?

Cheers.

selbmag

Just called Barclaycard to see what they had to offer since it currently has a zero balance on it

0% to August 2006 with 2.5% fee max £5k
0% to January 2007 with 2.5% fee max £5k
0% to March 2007 with 2.5% fee max £3k
6.9% Life of Balance with no fee max £10k

YorkshireBoy

mooch wrote:

Does anyone know if the £75 max fee will be added to my CC balance and also charged at 0% per annum?

The standard MBNA T&C's state that the fee is collected with the first minimum payment, ie £5 + £75 fee, whilst ever you have a 0% offer on your account - so it will not incur interest. Look for the phrase "lesser of" in your T&C's/summary box.

mooch

YorkshireBoy wrote:

The standard MBNA T&C's state that the fee is collected with the first minimum payment, ie £5 + £75 fee, whilst ever you have a 0% offer on your account - so it will not incur interest. Look for the phrase "lesser of" in your T&C's/summary box.

Nice one, i'll get the phone to them to do the transfer. Thanks.

edit : Transfer done. £14,555. 95% of limit minus £75 fee. As you say, the first payment will be £5+£75 then £5 after that. Phone guy did mention that if a payment is late or the account goes overdrawn, the 0% will be revoked, but i guess that's fairly standard stuff.

funkymonkey

another 6 months 0% with a 2% fee (max £75) MBNA