Unoffical Existing Customer Balance Transfers

Smiley_Mum

I had a balance of just over £2k on my now &more card from M and S.  Was running on 6 months at 0% and was due to expire in March.  I transferred the balance to Cahoot to get £50 cashback and then transferred it back and they said that I get another six months interest free on the balance so that expires in August. .  So got 11 months at 0% on the same card.  ;)

System

Hi Martin Abbey card for 12 months at 3.9 which rus out this month and they have given me the same rate for another 7 months with increase borrowing level???

The following thread is for people to post what Balance transfer offers they have actually !been given by their existing credit card companies. !To see the context of this thread please read my article 'the Credit Card Shuffle' by clicking

http://www.moneysavingexpert.com/cards/cut-credit-card-interest

Martin

IMPORTANT NOTE: Please remember this is about EXISTING customer balance transfers, it is not the 'new cardholder offers. !What would be helpful is if you noted when you got the card, and how long you'd had it when they gave you asked for a new balance transfer deal.

Uncle_Fester_4

wolf33055, don't forget that the ORIGINAL Barclaycard 0% for life has only a 1p per month spend. It works for me.

http://www.moneysavingexpert.com/cgi-bin/yabb/YaBB.cgi?board=BCC;action=display;num=1052402193

[glow=green,2,300]Fester[/glow]

budgetflyer

I had 5k on MBNA @ 0% for 6 months. This ran out last month so I swiftly transferred it to my existing MINT card at 5.6 % for life. Last night MBNA called me and offered to undercut any deal to transfer back.
I quoted 3.9 % for life (capital 1). Well they couldn't match that but offered 2.9% for 9 months.
After a bit of haggle we got that down to 1.9% for 8 months with the option to renegociate at the end of this deal.

System

This is really an extension of Martins 'half price plastic loans' article. I have heard that especially with MBNA, after having had 0% for 6 mths and paid it back, MBNA will call you, 'concerned' that you have paid it back and offer another deal. This, from what I have heard, can be very competitive from 3.9% to 1.9% APR for (hopefully) the life of the balance transfer. The BT could then be used to pay some off of your mortgage assuming you can meet the minimum payment requirement, or even, if you have managed a rate as low as jmstewarts into ING etc.

Could you also make a BT after the minimum payment back to ING/ a mortgage acc to save even more.

MBNA also have limits up to £50k so you could make/save a lot of money.

mostyn_2

Just been told by Capital One
"They Are a one account per person company"
Therefore I cannot transfer existing balance, or upgrade my Card from Classic to Platinum , without closing my account first,  even if all I wanted was a reduction in rate!
:-X
Phil Hammond

Margaret_Millne

Capital One do seem the hardest to get any deal out of. I just called them to see if I could get any balance transfer deal, and was told no, 3.9% only available to new customers.

I could close the account and re-apply, but there would be no guarantee of getting the same credit limit - and did I want to do that??

Told them no way, I would just use the card for purchases and pay it off in full each month, so they would get no interest whatsoever out of me.

He did say if there were any offers available in the future I would be notified in writing.

Now I am going to see if we can screw a lower rate out of Goldfish, and pay off hubby's Capital One from there. That should p**s them off, as between us they were getting interest on £14000.

Andytu

"Told them no way, I would just use the card for purchases and pay it off in full each month, so they would get no interest whatsoever out of me."

They make money by you using their card. Best to use another card with cashback (i.e Amex blue - 1%)

And you could overpay Capital One by 1p and not use them - they'll keep sending you a statement at their own cost ;D

Margaret_Millne

"Told them no way, I would just use the card for purchases and pay it off in full each month, so they would get no interest whatsoever out of me."

They make money by you using their card. Best to use another card with cashback (i.e Amex blue - 1%)

And you could overpay Capital One by 1p and not use them - they'll keep sending you a statement at their own cost ;D

True, unfortunately Amex Blue got 4.9% life of balance transfers on it, so not available to spend on.  This is why I was trying to get 3.9% life of balance out of Capital One in the first place. However could overpay hubby's Capital One by 1p

mostyn_2

Hi All, After I drew a blank with Capital one,
I called Co-op, and ask them if I could transfer My Co-op Advantage Card to their lower rate fixed until 2008 Gold card, the reply was "should be no problem" , I have to ring on Tuesday to get a descision.
Then I will transfer my Capitol one balance to there just so I can close my account.

Ps, I am glad i am not alone with view on capital one