Balance Transfer Not Accepted.

Daisy381

So I have a Barclaycard of which I owe roughly £3500 on. I got this card with the 30 month balance transfer deal and I am now out of that 30 month deal so am paying a lot of money each month on just the interest of the card and am struggling to pay it off as well as paying off my debt. I think with meeting the interest and paying slightly more each month, I've managed to pay off about £300 in one year! Not much!

So my question is, I've applied for other balance transfer cards of which I've been accepted, to transfer the debt from my barclaycard but I can't transfer any money over from the barclaycard to these balance transfer cards, Does anyone know why or what I can do next?

TIA!

andyfromotley

Who is the new card issued by? If its the same group it may not allow inter group transfers.

JournalGirl

What card(s) have you been accepted for? If they are barclaycard owned, then they won't allow a transfer from a Barclaycard.

Daisy381

hi guys thanks for your replies. The new cards are Lloyds and RBS and both have had the balance transfer refused, I will call them both tomorrow and query as to why, I just don't see any sense in refusing the balance transfer

bengal-stripe

Daisy381 wrote: »

So my question is, I've applied for other balance transfer cards of which I've been accepted, to transfer the debt from my barclaycard but I can't transfer any money over from the barclaycard to these balance transfer cards, Does anyone know why or what I can do next?

You seem to misunderstand the way a "balance transfer" works. You do not transfer the balance from the old card (Barclaycard) onto the new one (Lloyds), but you transfer from the new card an amount of money onto the old card (which will clear the balance, either completely or partially).

Go to Lloyds and click "balance transfer", then state Barclaycard and your account number. Lloyds will transfer the requested amount to BC, let's say £3000 (you can usually transfer 90 or 95% of your available balance). Lloyds will send £3000 to BC, who will book it as a payment, leaving you with a balance of £500 on the account.

misspickle_2

bengal-stripe wrote: »

You seem to misunderstand the way a "balance transfer" works. You do not transfer the balance from the old card (Barclaycard) onto the new one (Lloyds), but you transfer from the new card an amount of money onto the old card (which will clear the balance, either completely or partially).

Go to Lloyds and click "balance transfer", then state Barclaycard and your account number. Lloyds will transfer the requested amount to BC, let's say £3000 (you can usually transfer 90 or 95% of your available balance). Lloyds will send £3000 to BC, who will book it as a payment, leaving you with a balance of £500 on the account.

Bengal puts it so well

I'd spotted it but would never have found the words. I knew I would of just confused op.

All I could think of to say was "your doing it backwards op" lol I'm no use

Daisy381

I admit I wrote it wrong originally! I do know the way balance transfers work, what i MEANT was that Lloyds and BOS would not pay Barclaycard for the actual balance transfer.

Problem seems to have been 'sort of' solved now, thanks to a helpful member on here that read between the lines and didn't highlight my idiocy, I called up BOS and they offered me a longer 0% balance transfer to compensate for not having accepted my original request for a balance transfer to the Barclaycard. They have also offered me a trade in of my old Halifax credit card to a new Halifax credit card with 0% balance transfer for 12 months so that's £1100 from the Barclaycard balance sorted now. Time to tackle Lloyds.

jd87

In one post you said RBS and now you say BOS. Which is it?

Could you tell us what the actual problem was so that other people know for future?