Cannot Balance transfer from AA to Halifax

Hi all

Advice needed! I have just had a major problem with my AA card. I've had it for a few months and had transferred a balance on to it. I then decided to move the balance to another card as the minimum payment on AA is 2.5% (rather than the normal 1% ish). I got a Halifax card but when I came to transfer Halifax would not do it as they said they could not accept balance transfers from Bank of Ireland.

Any one else had this problem with these card or with others? Seems really strange to me and very annoying. I can appy for another card but I don't want to have the problem again and be stuck with the AA. :mad:
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Replies

  • zx81zx81 Forumite
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    There seems to be an issue with the AA card. I'd advise getting a new card with money transfer promo, and do it that way.
  • thedaveyboythedaveyboy Forumite
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    So i'd have to get a money transfer card (MBNA every day plus?), transfer the amount I owe on AA to my bank account, pay off AA, then transfer the balance on the transfer card to the halifax.

    Is that what you are thinking?
  • CandyappleCandyapple Forumite
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    Money transfer cards here:
    http://www.moneysavingexpert.com/loans/cut-loan-overdraft-costs

    Let's assume you owe £1k on the AA card and then apply for and receive the Virgin card with 0% on money transfers for 32 months with 1.69% fee.

    You would pay £16.90 fee to transfer the funds from Virgin card to your bank account.

    You would then use the funds in your bank account to make either a debit card payment to your AA card, or using their bank details, do an online bank transfer. Your AA card is now clear, close it.

    You now owe £1,016.90 to Virgin which you have 32 months to clear. Virgin has a 1% repayment.

    You can either leave it at that and pay off the Virgin card until it is clear, or you can move the balance to your new Halifax card. Personally I wouldn't bother as you will end up having to pay another balance transfer fee at Halifax's end and also their longest 0% BT card is for 39 months, only 7 months longer than Virgin. Assuming that is the card you even applied for/received that is. You may have got the 32 months, or 24 months.
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
  • thedaveyboythedaveyboy Forumite
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    Thanks Candy apple

    I don't want to pay any fees though, that's why i was looking at the mbna card as it is has no fee. but once I have the dept on there i would have to BT it of straight away to advoid paying the 7.5% interest. do you think that is do-able?
  • CandyappleCandyapple Forumite
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    Ah I see. I didn't realise about the new MBNA Everyday Plus card and that it had no fees for transfers, thanks for the heads up! :)

    Yes your plan will work. Once the debt is showing on the MBNA card you could definitely use your Halifax card to transfer the balance over to avoid paying the 7.5% interest.

    I sense a stoozing opportunity :D
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
  • thedaveyboythedaveyboy Forumite
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    MBNA card is on it's way.....
  • faddyfaddy Forumite
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    Candyapple wrote: »
    Once the debt is showing on the MBNA card

    Aren't MBNA noted for not minding accounts being put in credit?
  • Westie983Westie983 Forumite, Ambassador
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    AA is owned by Lloyds Banking Group, and therefore they wont allow balance transfers from accounts in their own range.

    It had nothing to do with bank of Ireland.

    Looks like you have sorted it with transferring to MBNA.
    I’m a Forum Ambassador and I support the Forum Team on the Banking & Borrowing, and Reduce Debt & Boost Income boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing [email protected] All views are my own and not the official line of MoneySaving Expert.

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  • YorkshireBoyYorkshireBoy Forumite
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    Westie983 wrote: »
    AA is owned by Lloyds Banking Group

    It had nothing to do with bank of Ireland.
    I'm not sure if the AA cards were ever issued by LBG. I seem to remember Halifax were once involved (and maybe even MBNA?) years ago, but wasn't that before the financial crisis and Lloyds taking over BoS?

    OP has only had their card a very short time so, just like my recently acquired AA card, it's issued by BOI. ;)
  • nohnoh Forumite
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    Westie983 wrote: »
    AA is owned by Lloyds Banking Group, and therefore they wont allow balance transfers from accounts in their own range.

    It had nothing to do with bank of Ireland.

    Looks like you have sorted it with transferring to MBNA.

    https://www.theaa.com/credit-card/index.jsp

    "AA Financial Services Limited (AAFS) acts as a credit intermediary and introduces customers to Bank of Ireland (UK) plc only as its exclusive credit card issuer."
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