Unoffical Existing Customer Balance Transfers

wilf55

i have already asked them to reduce the rate but no joy

gcalpacket

thanks to this thread I was able to transfer 300£ from my BOS card(16% interest rate) to my exsiting mint card.0% balance transfer fee and 2.9% intreset rate for 9 months...not bad

bella123

Just tried to close my Virgin CC and she offered me 6 months 0% with 3%b/t fee.

Snikdho

Just interested to know did you use yours only for BT's or did you at any stage use it as a normal CC. I can never understand why they operate such different policies for customers, trying to figure out where I lost out. I have an excellent credit record so no probs there.

larryhm

causey25 wrote: »

Just called Abbey (have a zero balance after transferring remaining balance away last year at the end of a 12mth 0% deal).

They say I can have can have 8 months at 0% (3%fee). Although it's not a particularly great offer - I was surprised that there was anything going at all - I've heard Santander are rubbish at existing customer offers & was just expecting to close the card down.

Quite pleased - can clear my MBNA balance before the 0% finishes in April & hope that the nice MBNA people will have another offer for me in 8 months.

Don't bank on MBNA extending your deal.

I just tried today to get another offer as my 0% interest balance transfer is due to expire in May and asked if they could offer me anything to not go to Barlclaycard for a 6.9% life of the balance transfer. The Rate department told me that they could not extend it as what I had was a promotional offer and that they would have to go to 17.9% standard rate after it ended.

When I suggested that I might have to take up the Barclaycard offer and close my account with them, they just said 'That's up to you'.

Wasn't expecting anything much, even if it was a lower rate but got nothing so don't bank on it.

larryhm

Have £3500 on MBNA on 0% interest free which is ending in May 2009.
Have £1500 on Natwest at 5.9% life of balance and have just cleared my Barclaycard.

Barclaycard have said I could do 6.9% life of the balance at 2.5% fee which I could use to transfer the my MBNA balance. MBNA will not offer anything at the moment even though I said I might have to take up the Barclaycard offer and close the account otherwise.

However, I know that if I did that MBNA have a 0.9% interest til January 2010 but it is 3% fee and I'd only have to transfer again in January. Don't really want to pay a fee twice but the MBNA minimum monthly repayment is a lot less than Barclaycard's (£25 vs 2.25% of balance for Barclaycard) which would mean paying off the Natwest one sooner to then concentrate on my MBNA one.

Should I try getting another card and close my Barclaycard and MBNA accounts or should I just make do with the Barclaycard offer? If I should get another card, what do people suggest?

Any advice appreciated.

saad_awal

Since your balance is not due until May 09, I would suggest not to use Barclaycard till then.

I have had a Barclaycard for over 5 years now and everytime I have a statement with nill balance, a month after (subject to not being used) they send me a 0% BT offer or LoB offer.

Come May, a couple of weeks before your MBNA offer comes to an end, if you haven't received the 0% from Barclaycard till then, choose to speak to the customer loyalty team and explain you would like to close the account. They will almost certainly offer you some deal to stay back provided you haven't used the card till then and needless to say there is no outstanding balance. In my opinion the trick is to give it a couple of months and then try with Barclaycard - atleast has worked for me on a number of occasions in the past.

Moggles_2

larryhm wrote: »

Don't bank on MBNA extending your deal. I just tried today to get another offer as my 0% interest balance transfer is due to expire in May and asked if they could offer me anything to not go to Barlclaycard for a 6.9% life of the balance transfer. The Rate department told me that they could not extend it as what I had was a promotional offer and that they would have to go to 17.9% standard rate after it ended.

It's not unusual for existing customers to be offered promotional rates, as a sweetener to attract new business. It's not often that any lender offers to extend the deal to existing transactions though. Of course there's no harm in asking.

Once your MBNA card was paid off in full, courtesy of another BT card perhaps, you'd be in a stronger position to negotiate. I'd wait until the current 0% period ends in May, then give it another go

Moggles_2

larryhm wrote: »

Have £3500 on MBNA on 0% interest free which is ending in May 2009.Have £1500 on Natwest at 5.9% life of balance and have just cleared my Barclaycard.Barclaycard have said I could do 6.9% life of the balance at 2.5% fee which I could use to transfer the my MBNA balance. MBNA will not offer anything at the moment even though I said I might have to take up the Barclaycard offer and close the account otherwise. However, I know that if I did that MBNA have a 0.9% interest till January 2010 but it is 3% fee and I'd only have to transfer again in January. Don't really want to pay a fee twice but the MBNA minimum monthly repayment is a lot less than Barclaycard's (£25 vs 2.25% of balance for Barclaycard) which would mean paying off the Natwest one sooner to then concentrate on my MBNA one. Should I try getting another card and close my Barclaycard and MBNA accounts or should I just make do with the Barclaycard offer? If I should get another card, what do people suggest?

I answered some of these questions for you earlier on the *Best Balance Transfer* thread.

nalin

"Barclaycard have said I could do 6.9% life of the balance at 2.5% fee .........."

Recently I had an offer from them in which they have dropped the fees with offer of 6.9% for the life of the balance.

Worth telephoning to find ut if you are interested.