Balance Transfer from Vanquis

ThaReality

Hi, I notice a similar thread has been closed with a similar title, however my question is slightly different.
I've managed to improve my credit rating using Capital and Vanquis over the years, and today I decided to look into Balance transfers. I found out that Barclays is offering a good deal and lower interest than what I currently pay with Vanquis.

My only problem is, Barclays didn't offer me the card I wanted but has offered a lower alternative which still comes with 0% or so on BALANCE TRANSFERS and still a vastly lower interest compared to Vanquis. Here's the problem now,

I have a £2400 balance with Vanquis BUT, Barclays is proposing £1200. How does this affect me and how do I go about it, or better yet what's the best advice in this scenario. I thought CC companies take on the entire balance. Which is of course what a balance transfer is meant to mean, am I wrong?

Any advice would be highly appreciated, please. I look forward to hearing from you

Kind regards

[Deleted User]

ThaReality wrote: »

I thought CC companies take on the entire balance. Which is of course what a balance transfer is meant to mean, am I wrong?

Yes, you're wrong. You can only balance transfer up to the amount you are offered.

If they offer you something, accept it and BT what you can. You can always then apply elsewhere.

However, are you sure they have offered £1200 and you're not looking at the representative example?

Samsung_Note2

As ZX81 rightly says take what ever Barclaycard offers and transfer as much as they allow...still a whole lot cheaper than Vanquish,pay as much as you can off Barclaycard each month and they should review credit limit every few months (6 months i believe)...they seem pretty good at upping the limit.

Nicola83

I've just done this with my vanquis card. I shopped around and even used the mse guide on best 0% balance transfer deals, Barclaycard came up as my top one.
However, HSBC was also on the list but only with an 85% chance of approval but as I bank with them and have an advance account I tried applying with them, and it was the easiest application I've ever had to do.
They've given me a credit limit that vastly exceeds what I want to balance transfer and 0% interest for 3 years on purchases and BT.

Sometimes it's worth applying for 1 with your own bank as they know your spending history etc and how reliable at making payments you are.