Unoffical Existing Customer Balance Transfers

saad_awal

Having a substantial balance on my MBNA, I am surprised I have been offered 0% BT till June 2010 or Purchases till Feb 2010.

CannyJock

saad_awal wrote: »

Having a substantial balance on my MBNA, I am surprised I have been offered 0% BT till June 2010 or Purchases till Feb 2010.

What's the APR on your substantial balance?

If you're paying interest on the balance and you do a 0% BT or take up a 0% purchase offer, your payments (minimum?) will be allocated against the 0% offer, meaning you'll keep being charged interest on the substantial balance until you've repaid the 0% promotional amounts.

From one of the MBNA card's summary box:

If you do not pay your balance in full we will use your payments:

• to reduce lower rate balances before higher rate balances.

If introductory rate balances are the same we will repay them as follows:

• the one which expires first; then
• if expiry dates are the same - the one which started first; then
• if the expiry dates, and start dates are the same - the one with the lowest standard rate.

~Chameleon~

~Chameleon~ wrote: »

I was going to check out the CC board but clicked on main site by mistake and right there staring me in the face was the Virgin 9mth 0% BT with NO FEE offer!!!

Moggles wrote:

Have you considered the BOI's Post Office card? 12 months at 0% is currently available to new customers on balance transfers made in the first 3 mths. There's a 2.98% BT fee. Also, 5 months at 0% on new balance transfers requested in the month of your 1st and 2nd anniversary

Just to update for the benefit of anyone looking to apply for either of these cards....

I've been turned down for both despite having an impeccable credit history with not even so much as a late payment on the entire file!

I spoke to Experian and they said that both Virgin and the PO had become very strict in their lending criteria and they were seeing a huge increase in people being rejected for these cards, even if they scored 999 on a credit score!

Might not be worth wasting a credit search unless you are absolutely certain of being accepted!

Pedders18

saad_awal wrote: »

Having a substantial balance on my MBNA, I am surprised I have been offered 0% BT till June 2010 or Purchases till Feb 2010.

Sorry Saad, who offered you the 0%, I have a large MBNA balance and would be keen to get a similar deal as when I make a payment, more a less all of it gets taken by interest payments.

hyndlegs

My wife transferred a balance from her Virgin card 6-8 weeks ago and then rang up Virgin yesterday to see what offers they had on to try and transfer a different balance. They offered her 0% till June 2010 with a 2.98% fee which seems decent enough after she has previously had the 13 month interest free period. Always worth the phone call !
.

keithboy40

Are there any tesco credit card deals going for existing customers. LOB would be sufficient.

CannyJock

keithboy40 wrote: »

Are there any tesco credit card deals going for existing customers. LOB would be sufficient.

You'll need to phone them and ask. Normally helps if you've got a zero balance.

For new applications, current LOB offers are: http://www.stoozing.com/lob.php

keithboy40

CannyJock wrote: »

You'll need to phone them and ask. Normally helps if you've got a zero balance.

For new applications, current LOB offers are: http://www.stoozing.com/lob.php

I've tried other cards, however i keep getting turned down, even though i have an excellent credit history and never missed a payment. I want a lob to reduce interest payments.

saad_awal

CannyJock wrote: »

What's the APR on your substantial balance?

If you're paying interest on the balance and you do a 0% BT or take up a 0% purchase offer, your payments (minimum?) will be allocated against the 0% offer, meaning you'll keep being charged interest on the substantial balance until you've repaid the 0% promotional amounts.

From one of the MBNA card's summary box:

im still on the introductory 15-month 0%apr which expires soon... frankly im surprised i was even offered before the end of the introductory offer.. anyway im intending to pay it off because the intention was stoozing and with the current interest rates, it wouldnt make economic sense..

any ideas?

saad_awal

Pedders18 wrote: »

Sorry Saad, who offered you the 0%, I have a large MBNA balance and would be keen to get a similar deal as when I make a payment, more a less all of it gets taken by interest payments.

i received a letter through post...