Confused about credit cards!

Glen1977

Hello all, need your help, assistance and advice ASAP please!

I don't know much about how credit cards work aside from spending on them!

I had to pay around £2,700 on my CC but for whatever reasons it was declined. So I paid it on my wife's CC but as it's my debt I need to transfer it onto mine. I could try and work out why my existing card didn't work OR I can get a new CC and this is where I need help.

What's the best card out there for what I want to do? Also will there be loads of filling in paperwork to open a new CC? Can I do it online or do I need to fill out papers and post it? Are there any cashback/gifts that come with any new CC's? Don't want to pay a fee either and obviously want the lowest monthly interest payment as realistically I'm not going to be able to pay it all back within 18-24 months.

Really appreciate some prompt replies!

Caz3121

you are best looking for a balance transfer card. Whether you will be offered one will depend on your income, financial history etc. There will be a fee (3%?) on the transfer
Depending on the length of 0% deal offered you could either plan to pay it all back over the term or be prepared to try and get another balance transfer card when it gets to the end for whatever is left on the card

Tixy

In addition to what Caz has posted - if you are applying for a new card then it needs to be from a different provider to the card of your Wife's with the existing debt.

Best balance transfer deals are listed here - http://www.moneysavingexpert.com/credit-cards/balance-transfer-credit-cards
There is also an eligibility calculator which will give you an indication as to whether you may be accepted for various cards here http://www.moneysavingexpert.com/credit-cards/balance-transfer-credit-cards#rule4

Chrysalis

Be aware I think balance transfer cards have to have a matching name for the debt, so you may not be able to transfer from your wife's card.

In terms of paperwork I guess it depends on the card provider.

With tesco I did 100% of it online, I did a online signature.
With capital one I think I had to sign a form but the rest was done online.

Tixy

Most of the main card providers don't question transfers to an account in a different name anymore. Although a few may still reject.

But often the easiest way is to do the balance transfer online, as they you typically only need to complete the card number and amount to transfer.

Chrysalis

Well both lloyds and tesco on the balance transfer web page state the name and address of the card needs to match.

KRB2725

Barclaycard just ask for the card number and amount of transfer.

Chrysalis

emmatthews wrote: »

Barclaycard just ask for the card number and amount of transfer.

yes but it doesnt mean they dont check the name/address.

Alexd52

Chrysalis wrote: »

yes but it doesnt mean they dont check the name/address.

Barclaycard do allow to transfer from someone with a different name, I have done it without issues. What they won't accept is a transfer from another Barclaycard.

Pincher

Can't you just ask why it was rejected?


Some times a card is frozen because the computer thinks something is dodgy. For example, To get a £1 movie from the Wuaki.tv EETV Film Club, Wuaki.tv takes £1 from my credit card, which caused the credit card to be frozen, and then the credit card company called me up to confirm the transaction.


I also had a freeze a few months ago because I forgot my PIN on an infrequently used card, so they had to send me another PIN through the post.