M&S Credit Card

forbesy100

I have also looked into the possibility of taking out the Intellegent Finance "Life of Balance" credit card, which offers 4.95% on balance tranfers. Does anyone know if this is fixed until the balance is paid, providing I transfer in the first six months? I am trying to decide whether I would be best getting a loan (Northern Rock @ 6.4%) or taking out the Intellegent Finance card, as I currently have a balance of £5000 on Egg, which I need to move to avoid getting stung by their higher interest rate charges.

Thanks, Forbesy100

abitrubbish

The IF card is 4.95% until the balance is paid off. I am not sure how easy they are to get though. I recently applied for one (as an existing IF customer)and was accepted, but only got a limit of £2,000 of which I was able to transfer 90%. I then applied for the M&S one as this was not sufficient for my needs, and have got a £4,000 limit with them (I think, it hasn't actually arrived yet...) So if you've been refused for a couple of cards, I'm not sure applying for this one (or indeed any other cards for a while) would be your best bet.

forbesy100

Thank you for your reply. The catch with these cards seems to be that they have reduced the limit you can transfer. Anyway I think my best bet may be to put £2750 on the HSBC card and pay off the rest using a loan.

Many thanks Forbesy100