Unoffical Existing Customer Balance Transfers

paulus6

Hi,
Had an Asda Mastercard last year, which I used in store for cashback, after the offer expired I rang up customer service, which incedently is cr*p.
to cancel the card, end of story, so I thought !
Yesterday I woke to find a brand spanking new card on my doormat,
This is you're new Asda card with 6 months % fee free balance transfer it said.
Suprised ,:rotfl: I called C.S to verify the details of the card and its perfectly ok, hoooraaagh !!
They sent out a new card as my old one had expired. I didnt tell them I had cancelled, and have transferred £2500 from a nearly expired card that I hold.

Miracles do happen after all !!!!!!!
Anybody else had an experience like this.
Paulus.

Paul_Herring

dickdasdedly wrote:

Paul_Herring wrote:

For example, if you pay more than the #180 per month the LOB deal works out even better (less interest charged in the interim months.)

I think i will try and get the 5.9% Egg have been offering some people first If not then i will cancel. I was looking at paying £200 a month. Thought LOB would be better option. Cheers

Just for fun then - above assumptions except unchanging £200 instead of £180 and interest rates specified:

Egg 0%->16.9%, balance at 1st April: £5160.78. Interest due for April £71.68
LOB 6.9%, balance at 1st April: £5161.79. Interest due for April £29.27. Paid off by 1/9/09
LOB 5.9%, balance at 1st April: £5138.11. Interest due for April £24.91. Paid off by 1/8/09

Additional payments will, of course, shorten the time.

Paul_Herring

FredFlintstone wrote:

What's the best card to get a fee free balance transfer?/

Bookmark http://www.stoozing.com/0fees.htm

Moggles_2

Hi FredFlintstone

Welcome to the credit card board!

What's the best card to get a fee free balance transfer?

If you mean which lenders target existing customers with fee-free balance transfers - this is the *Existing Customer Balance transfer* thread - the current most popular are Goldfish (0% for 6 months) and Egg (5.9% life of balance transfer until the end of October).

Unfortunately, there's no way to predict which card companies will make these follow-up offers in advance.

If you're in a position to apply for a new credit card, please click on *Balance Transfers* in the black box at the top of this board. Martin's recently-updated article includes three suggestions. Also, the table recommended in the previous post is comprehensive and regularly updated.

Very best
M

philc_2

I have a Lloyds TSB Platinum Card I cleared back in August (originally it was a Create card with a 12 month 0% deal, but they scrapped the Create card a few months back and issued Platinums as a replacement) and I rang up tonight to cancel it.

Got put through to the cancellations team and when they asked me why I wanted to cancel, I explained my 0% offer had expired and therefore I didn't really want the card any more.

They immediately asked if I was interested in a new 6 months 0% deal with a 2.5% fee (on the whole balance transferred).

I asked if they could do anything about the BT fee and after them saying no and me sucking through my teeth a bit there was a remarkable reassessment and they offered either 6 months 0% with no BT fee or 12 months 1.9% with no BT fee. Result!

Moggles_2

Congratulations philc!

Thanks for your feedback. Another good reason for phoning customer services to cancel an unused card is that occasionally you're offered an incentive to stay.

sadfurry

I just got a barclaycard with 0% interest for 12 months

Tranered one card, as their limit wasn't high enough for more, they said ring in 6 months and they will increase it, at 0% for the remainder of the 12 months. They charged either a 2.5% one off Balance transfer fee, or 0.5% monthly fee, my choice.

Then rang Mint, who offered me 6 months at 3.9% which then changes to 16.6%, transferred 2 cards and a store card to this so should get a whole whack paid off, as can well overpay it....

Bertville

Called Goldfish to ask about transferring a balance to them. Lady said "balance transfer rate today is 15.9% but I'm sure we could offer a promotional rate". Came back with 4.9% for six months, not perfect but pretty good for the short term.

GeordieLad_2

Further to Philc above, Lloyds TSB Platinum again. I called and said I wanted to cancel, citing end of balance transfer and better offers elsewhere as the reason. I was given three offers:

1) purchase rate reduced from 14.9% to 6.9%
2) 0% for 6 months with 2.5% fee, or
3) 5.9% LOB with no fee

They seemed keen to get me to stay so definitely worth ringing them up if you could use any of the above kinds of offer.

smiggers

MBNA offered 1.9% till April but with a 2% charge (uncapped). The assistant refused to waive or reduce the charge and basically wasn't interested.

On the other hand , a lot of the CC companies are offering these 5.9% LOB offers which seem good value to me , especially if base rate goes up to 5% as is widely expected - might be worth tucking some of these away.