Moving a balance transfer to a current account

digital

I'm being offered a Tesco credit card with 0% interest and a 0% fee for balance transfers for 20 months and I would like to move as much as I am able to my Santander current account.

I will, of course, have first of all to transfer the balance to another credit card but the question is, which other credit cards would allow a positive balance to be withdrawn?

I have a Barclaycard that has no balance on it and a Santander Zero card with no balance on it but the credit limit on that would be less than the balance transfer into it.

grumbler

Generally, the only way is to withdraw money from other card, then transfer the balance to Tesco. This will cost you ~3% (not sure about Zero) and add some negativity to your credit files.

digital

Not always.

I have, in the past, ended up with a positive balance on a credit card and have been able to have that positive balance paid into my current account.

I'm looking now to find which card(s) will allow that if they have a cash sum paid in from another card. I don't want to find that the cash is stuck and I have to spend it off the card.

YorkshireBoy

Its been reported on here (specifically the stoozing board) that Barclaycard are not unhappy to refund positive balances.

My only recent experience is with MBNA, who have (quite happily!) refunded me around £40K in 4 or 5 separate transactions just over a year ago...all in the space of 3 months.

You don't say how much is involved, but in your shoes I'd keep it below £10K.

gravattt

I completed Martin's / MSE eligibilty checker and it gave me a list of cards, showing 0% buttons against each. I am not sure if this means I have no chance of being accepted, or whether that relates to the rates? its not totally clear....?
:money:

SeduLOUs

If you've got 0% purchases aswell then another option would be to transfer it to your account gradually by spending on the card instead of spending the money in your bank account. No balance transfer fees, no interest and no messing about with putting credit cards into positive balances.

digital

gravattt wrote: »

I completed Martin's / MSE eligibilty checker and it gave me a list of cards, showing 0% buttons against each. I am not sure if this means I have no chance of being accepted, or whether that relates to the rates? its not totally clear....?
:money:

adindas wrote: »

Sometimes I also wonder and therefore very eager to learn. How do they determine the probability of being accepted.

I have tried this tool,
I got 95% probability in some cards
Some with 50% probability
and Some with 0% chance

Could anyone please shed the light this discrepancy. How come the same percent and the difference is very high ???

Could you take this to a separate thread please? You are most likely to get an answer with your own subject line rather than piggy back on this.