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Unoffical Existing Customer Balance Transfers

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Comments

  • selbmag
    selbmag Posts: 37 Forumite
    selbmag wrote: »
    I have had a 0% balance on my Sky Card come to an end this month.
    £7k on it for 6 months. Balance is down to £5.8k.

    I rang them and asked if they would do any promotional offers on the remaining balance and they offered to extend the 0% for a further 6 months at no fee which I happily accepted :j

    Well it has all gone horribly wrong.

    When they offered the 6 month extension I also asked if I could BT any additional amount within that further 6 months to which the response was yes.

    So I did a BT for £2k as this was up to the credit limit. This was from another card coming to the end of a BT deal.

    I get my next months statement and it has 0% interest on the new BT but standard interest applied to the old BT.

    I ring up and they have no record of me being offered the extension. "there is nothing in the notes sir!".

    So I am stuck with a BT at 0% but a whole load more at the standard rate and we all know which one payments pay off first :mad:

    After some insistance that this was offered they are now supposed to be reviewing my previous telephone recordings and getting back to me.

    I am pretty much shafted if they do not change it becuase I have no more spare cards to move the funds onto and it has completely messed up my 0% juggle.
  • udydudy
    udydudy Posts: 559 Forumite
    Part of the Furniture Combo Breaker
    LLoyds TSB offered me 6 months BT with a 3% fee, not exactly something I would Jump about, since it is 6% annualized which aint great. but then I guess in this credit crunch thats the best one can get. after 6 months LLoyds TSB card bites the dust for SURE!!!!

    KUDOS to MBNA when this credit crunch is over that is one card i will hang on to for life... guys charge 2.98% BT fee but know how to keep the loyal customers with 12 months BT
    :beer::beer::beer:
  • jpwjpw
    jpwjpw Posts: 274 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    selbmag wrote: »
    Well it has all gone horribly wrong.

    When they offered the 6 month extension I also asked if I could BT any additional amount within that further 6 months to which the response was yes.

    So I did a BT for £2k as this was up to the credit limit. This was from another card coming to the end of a BT deal.

    I get my next months statement and it has 0% interest on the new BT but standard interest applied to the old BT.

    I ring up and they have no record of me being offered the extension. "there is nothing in the notes sir!".

    So I am stuck with a BT at 0% but a whole load more at the standard rate and we all know which one payments pay off first :mad:

    After some insistance that this was offered they are now supposed to be reviewing my previous telephone recordings and getting back to me.

    I am pretty much shafted if they do not change it becuase I have no more spare cards to move the funds onto and it has completely messed up my 0% juggle.

    What a cheek! I try and write down who I've spoken to now after similar experiences (although not as bad!).
  • ~Chameleon~
    ~Chameleon~ Posts: 11,956 Forumite
    10,000 Posts Combo Breaker
    I have a feeling that selbmag may have misunderstood either the T&C's or what the CS told him/her, as it is very rare (almost unheard of) for a cc to offer an "extension" to an exisiting promotion. I rang them around the same time as my card was also coming to the end of a 0% BT deal and they said no way can they "extend" it but if I cleared the balance they may be able to offer a similar deal the following month ;)
    “You can please some of the people some of the time, all of the people some of the time, some of the people all of the time, but you can never please all of the people all of the time.”
  • Hi I have a question, I'm not even sure I am posting it in the right section. I have a personal loan of £10k with HSBC and want to somehow use a balance transfer to transfer it over to an account where I pay not interest in the year. From reading the website, it looks like I need to open an egg account transfer the money from egg to my HSBC acc therefore repaying my personal loan, leaving a negative balance on the egg card and then arranging a balance transfer from the egg card, to the new credit card? Please could someone help and just tell me whether this sounds logical and possible. Or if not what the alternatives are?

    Many thanks

    Anand
  • ~Chameleon~
    ~Chameleon~ Posts: 11,956 Forumite
    10,000 Posts Combo Breaker
    dr_oo7 wrote: »
    Hi I have a question, I'm not even sure I am posting it in the right section. I have a personal loan of £10k with HSBC and want to somehow use a balance transfer to transfer it over to an account where I pay not interest in the year. From reading the website, it looks like I need to open an egg account transfer the money from egg to my HSBC acc therefore repaying my personal loan, leaving a negative balance on the egg card and then arranging a balance transfer from the egg card, to the new credit card? Please could someone help and just tell me whether this sounds logical and possible. Or if not what the alternatives are?

    Many thanks

    Anand

    If you don't want the hassle of applying for two cards (Egg plus A N Other) then apply for one of the MBNA group cards (i.e. Virgin, MBNA, A&L etc) you can do what is called a Super Balance Transfer directly from your bank account rather than using Egg as the mule card. I think all the ones I mentioned still have 0% BT promotions running and to check out any others have a look at http://www.stoozing.com/0fees.php
    “You can please some of the people some of the time, all of the people some of the time, some of the people all of the time, but you can never please all of the people all of the time.”
  • loopholer
    loopholer Posts: 45 Forumite
    selbmag, it seems you may have misunderstood the extended offer scenario, probably due to unclear posting on forums. My understanding has always been, you must clear the balance just before the exisiting 0% offer ends, best done by BT'ing to a new card, then call for extended deal and hopefully increased CL too, once new deal is agreed, BT to SBT card for full CL. e.g. balance 6K, BT 6K to new card, get new deal on same card for CL 9K 0% for 6-months, BT 9K to SBT card. The reason you get extended deal and increased CL is because you've shown that your low-risk by having the ability to repay. If anyone is getting extended 0% without clearing balance, please let us know.
  • jpwjpw
    jpwjpw Posts: 274 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    I just got offered two deals on my Tesco card. 7.9% for the life of the balance (no fee), or 1.9% for 6 months (2.5% fee). Not great but not too bad.
  • udydudy
    udydudy Posts: 559 Forumite
    Part of the Furniture Combo Breaker
    jpwjpw wrote: »
    I just got offered two deals on my Tesco card. 7.9% for the life of the balance (no fee), or 1.9% for 6 months (2.5% fee). Not great but not too bad.


    The 6 month offer though looks low after adding the BT fee and annualising it, the interest rate you will be paying 6.9% i.e for 6 months you will bepaying (2.5% + 0.95-6 months interest, which when annualised becomes 3.45 * 2 i.e 6.9%)

    I would think if you can pay back the balance in 6 months then the 6 month one is cheaper, but if not then the long term one (though 1% costlier) gives more peace of mind and also if you cannot find a good rate after 6 months you can stay for a bit longer until some other card offers a good rate.
    :beer::beer::beer:
  • jpwjpw
    jpwjpw Posts: 274 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Anyone got an offer from MBNA recently? I'm interested in what they are giving out at the moment.
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