Halifax - Bt Question

df2008

Hello

I hope that someone can offer some advice on a Balance Transfer question.

I have a Halifax One card with a credit limit of £5,400. The balance is nil at the moment and I would like to utilise this (if I get a good deal of course) to pay off a loan as I calculated that I can pay it sooner by transferring to a credit card. My question is:-

1. Would I be able to transfer the available credit from my Halifax One card (I understand 95% of the credit limit) to my bank account as a balance transfer in order to pay off the loan or would they not allow this.
2. If they will not do this I have an existing balance on my Capital One card that I could transfer to Halifax (although I didn't want to incur the BT handling fee of 3%) and wondered if Capital One would transfer the funds to my bank account

I understand that different credit card companies have different criteria and some will allow you to transfer the funds to your bank account and still treat it as a balance transfer but others wont.

Any help much appreciated!

Thank you

King_Of_Fools

AFAIK, neither Halifax nor Capital One offer BTs to bank accounts. You need either a MBNA or Egg card to do that.

df2008

Thank you King of Fools. I will have to re-thing my strategy!

Sorry, what does "AFAIK" mean?

df2008

Thank you King of Fools. I will have to re-think my strategy!

Sorry, what does "AFAIK" mean?

King_Of_Fools

df2008 wrote: »

Sorry, what does "AFAIK" mean?

As Far As I Know

raff_2

Hi, In my experience the Halifax do often send out promotions and I am forever getting cheques which if you get some will allow you to pay to yourself and cash in the bank account. I haven't had any for 0% and think best I have had is around 5 - 6 % which probably isn't worth it for you. I know most if not all are now charging fees for balance transfers.