Unoffical Existing Customer Balance Transfers

Moggles_2

bigtel69 wrote: »

I have a MBNA card and pretty poor credit history. Tried to transfer my balance to Barclaycard this week and the computer said NO. Obviously, the more times I try this, the more times I affect my credit report in a negative way. Does anyone know of any credit card companies that will take the risk on me with a balance transfer with a 0% introductory interest rate?

Well, it depends what you mean by "pretty poor credit history". There are any number of reasons why someone's credit rating may be less than perfect.

Presumably you have a bank account, a regular income and you're on the electoral roll at your current address.

Have you looked at your credit reports lately to see what's actually on there? For help, see page 1 of the *How to obtain credit reports* sticky

charlatanuk

mrbigd wrote: »

No deals for me with Barclaycard so cancelled the card.

I've literally phoned Barclaycard this morning and was quite successful. I didn't mention anything about what others were offered. I just asked "are there any deals available to me for balance transfers?"

My existing 0% rate ended 2 months ago, I paid it all off although my June statement has 74p as interest. My July statement obviously being £0.

I phoned up and was told they would give me 0% until Jan 2010 with a 2.5% fee. Not only did I move some money from my Virgin card I was able to increase my credit card limit by £400 allowing me to transfer a little bit more.

The number I phoned was the 0800-9177-277

Moggles_2

charlatanuk wrote: »

I've literally phoned Barclaycard this morning and ... was told they would give me 0% until Jan 2010 with a 2.5% fee. Not only did I move some money from my Virgin card I was able to increase my credit card limit by £400 allowing me to transfer a little bit more. The number I phoned was the 0800-9177-277

Congratulations
:beer:

and thanks for posting that 0800 number

polyalloy

I got called last Friday from MBNA virgin with balance transfer offer: 0% for 9 month with 2.98% fee. At the time I had £750 balance in the credit card so I told the lady to call again next week. Then I cleared the balance on my account. I didn't get call back on Monday. However on Tuesday when i see my balance was ZERO I called Virgin and cited the offer. As a result, Virgin is transferring maximum credit to my bank account with the same 2.98% fee. So it equals 4% interest for a year.

CannyJock

Not heard of any half-decent repeat offers from MBNA for a while, cheers for updating this.

udydudy

polyalloy wrote: »

I got called last Friday from MBNA virgin with balance transfer offer: 0% for 9 month with 2.98% fee. At the time I had £750 balance in the credit card so I told the lady to call again next week. Then I cleared the balance on my account. I didn't get call back on Monday. However on Tuesday when i see my balance was ZERO I called Virgin and cited the offer. As a result, Virgin is transferring maximum credit to my bank account with the same 2.98% fee. So it equals 4% interest for a year.

Good to know MBNA are back...they have been the best for credit limits and BT deals. Hope they get back to the old days of business as usual!!..:rotfl:

fi76

I transferred money from Barclaycard to another card so i could then transfer to Barclaycard at 6.9%, phoned them today but they said there are no deals on my account at the moment, admitted there is a deal of 6.9% for existing customers but I didn't meet their criteria. When I asked what the criteria is he couldn't tell me(this was the manager) as he said their was no formal criteria!!!! I'm in so much debt after a succession of major expenses over the last few years and am having to work when my baby is only 2 months old, all i need is a break, why won't Barclaycard do that? Did have a bit more luck with Abbey (Satander) who have offered 0% til March 2010 but will only deal with a drop in the ocean!!!
Currently got 8 cards mostly maxed out and been refused twice in last 6 months so feel I have run out of options.

Moggles_2

fi76 wrote: »

I transferred money from Barclaycard to another card so i could then transfer to Barclaycard at 6.9%, phoned them today but they said there are no deals on my account at the moment, admitted there is a deal of 6.9% for existing customers but I didn't meet their criteria.

I don't know whether it's any consolation, but this is not uncommon.

Is it possible to move the balance(s) to a new card in your partner's name, if there is one?

Your post raises some other issues and you may want to post again on the *Debt-Free Wannabe* board. You'll get lots of advice and support there from users who have faced similar situations

http://forums.moneysavingexpert.com/forumdisplay.html?f=76

fi76

Thanks, I never realised how nice it is to know other people are out there, I've been receiving the weekly e-mails for a couple years but have never written into the forum before.

I do have a husband but to be honest I'm the the breadwinner, everything comes out of my account as i am the higher earner. I have just established from him last night however that his new Barclaycard that he has 2K on has 5K available credit at 6.9%. I have told him in no uncertain terms that this is not just my debt, and he is taking it on and in addition is applying for another 0% card to ease my burden.

Should I just cancel Barclaycard or keep it incase I do meet the phantom criteria in a month or so? I'm presuming my credit rating is a bit naff as have 8 cards, I have checked with agencies last year and couldn't see any mistakes. If I have 7 cards will this improve my rating?

Moggles_2

fi76 wrote: »

Should I just cancel Barclaycard or keep it in case I do meet the phantom criteria in a month or so? I'm presuming my credit rating is a bit naff as have 8 cards. I have checked with the agencies last year and couldn't see any mistakes. If I have 7 cards will this improve my rating?

Not necessarily.

Now that you've cleared your Barclaycard balance to zero, I'd wait a couple of months until your husband's transferred balance(s) reduce some of the debt showing on your credit files.

If you still don't get any offers from B'card, then you may have to consider closure, but I would be rather surprised if this were to happen. After all, lenders have to lend in order to make money