Help Needs - Balance Transfer Halifax

ncgirl

Hi I wondered whether anyone could help me. I currently have a balance on my Halifax credit card. I have just paid off another credit card and therefore have a zero balance on this.

I have just received a letter from Halifax stating that all balance transfers I make before 15.12.2007 will have an interest rate of 5.94% for the lifetime (3% handling charge)

Can I move my current halifax balance to the card with nothing on and then transfer it back to get the deal?

Cheers x

GeorgeUK

You probably could do that if you made sure to wait until the funds were through and cleared, but is it worth incurring the 6% in charges for the 2 transactions?

Can you not phone up the bank you have just cleared your card for and ask them if they can offer you something to keep your account open? Let them know what you've been offered by Halifax and see if they can match it or possibly give a 0% interest period. I'd have a look to see if there were any better options like other 0% cards, but that may depend on the amount owed, how much you can put towards the payments and what your credit history is like.

ncgirl

Thanks for the advice. I went to my £0 card (skycard) and they wouldn't give me any offers, so I returned to Halifax and got them drop my interest rate by 4% without having to make any balance transfers etc. I am keeping my Skycard open however as I may get an offer soon and can transfer the lot then.