First Timer

webitha

I have a Capital One credit card with £3550.00 left on it to pay, it is my final and only debt left after I have paid all other debt off :j :j, and it was for more than double what is on this card.
I want to do a balance transfer for a 0% which will help get rid of this.
I have gone on Clearscore and checked my credit score and it is is classed as stable, the only blot is this CC, the only problem is this will be the first time i have ever done this and am a tad apprehensive about what to do... i have done the soft check and it has given me quite a few that is 90% accepted.

Any pointers for a newbie like me should know????

MallyGirl

just pick one of the 90% that is not in the same banking family as capital one.
If they don't give you a big enough limit don't have a hissy fit and reject the card - take what they give and transfer as much as they will allow to new card at 0%.

webitha

Thanks, will i be able to able to transfer more as the balance goes down if still in the 0%??

And how do you actually transfer?

book12

In believe you can do as many transfers as you can.

During the application process, there is a question if you want do to a balance transfer. Select 'yes' and it will let you input your card number (enter your Capital One card number in there) and the amount you want to transfer. Alternatively, you can do a transfer when you get accepted.

webitha

You guys are awesome, I dont feel so overwhelmed now.

I would have done it sooner but I was too scared, I am on the final stretch now and I want it gone, then I shall put what my monthly payments into a savings account.

Candyapple

1. Go with MBNA where possible as they usually offer large credit limits.

2. Set up a direct debit for the minimum payment each month.

3. Most card companies only allow 90 or 95% of the total credit limit to be used up for a balance transfer.

4. Don't go for the card with the longest months / high transfer fee, work out what is best for you as there are other cards with a slightly less amount of 0% period but much lower fee.