SBT Credit Cards

thaylock

Does anyone know which credits offer Super Balance Transfer at 0% for 6/9 months (i.e. into my bank account, not to pay off another credit card/overdraft). I am considering starting a stooz pot, but don't know if I am able to do so as I have no debt on my credit card & no overdraft. Thanks.

YorkshireBoy

thaylock wrote:

Does anyone know which credits offer Super Balance Transfer at 0% for 6/9 months (i.e. into my bank account, not to pay off another credit card/overdraft). I am considering starting a stooz pot, but don't know if I am able to do so as I have no debt on my credit card & no overdraft. Thanks.

Egg, Virgin, and some other MBNA cards. Also, Mint via cheques?

However, you will be able to get all the basic information you need by reading the "REVENGE! Make Free Cash from Credit Cards" and "What is a Super Balance Transfer?" articles. Click the orange "credit cards" box to the left of this screen.

fatboyonadiet

Get an Egg or Virgin card and use them as a mule for other cards. Make sure you don't get charged fees for BT as Egg do charge now and think Virgin might charge in some situations.

MSE_Martin

If you click Super Balance Transfers in the link at the top of this page (in the blue bar) it takes you through card by card.

Martin

Chris357

You can also do SBTs using Goldfish's cheques. Goldfish only offer 0% on balance transfers so make sure that you don't use it for purchases if stoozing is your intention.

I cancelled the card when the 0% deal was over. It was great for stoozing with a large credit limit but, as a regular card, it has little to offer - no cashback, travel accident insurance abolished, and a threat to penalise customers who pay off in full each month.

thaylock

Thanks to everyone for their response, I have applied for a Virgin card so I will wait & see what happens, I am going to ask them for the maximum credit (£50,000).

thaylock

Just received a letter from Virgin, they are offering me £10,000. I asked for £50,000 but said £10,000 is the max for now. Going to read the small print before I sign, then it seems once I receive the card I just phone a number to balance transfer £10,000 into my bank account, easy money or what ! The £10,000 will go straight into my OneAccount account (no tax to pay on savings), so over a period of 9 months I will be saving £453 in interest, excellent. If all goes well I will be applying for another 0% card in a couple of months.

thaylock

When I phone Virgin to request the balance transfer I will record the conversation & also get the name & extension number of the person I talk to, in case they sting me with a 2% charge, even though they have told me this charge won't apply (but the literature states it may be charged on SOME balance transfers).

YorkshireBoy

thaylock wrote:

When I phone Virgin to request the balance transfer I will record the conversation & also get the name & extension number of the person I talk to, in case they sting me with a 2% charge, even though they have told me this charge won't apply (but the literature states it may be charged on SOME balance transfers).

This would be a wise move, bearing in mind the lack of a common policy from MBNA/Virgin recently.

While you're on the phone, ask them to confirm that "all BT's done AT ANY TIME in the 0% 9 month introductory period are fee-free".

Record the details (name, ext no, exact time, and date) as, if you manage to raise your limit after 3 months, you would want to refer back to this conversation when you BT your £5K limit increase (or any other "debt" you transfer to the card).

Everytime I call them I ask them this question - I can now quote 7 conversations by name/date/time (they can't say they've lost 7 tapes now can they?)

Finally, don't forget to ask them for the EXACT date of the end of the introductory period, and be aware that it probably won't fall in line with statement/payment due dates - meaning special care will be necessary next year when making the final payment.

HTH
YB

Hobo_2

Thaylock "HOLD ON THERE" You`ve got a One Account mtg!!

Your one acc visa card can be used as a route/mule/SBT, get your new card to BT to it (shows as RBS credit card on their systems) then the following wed any amount it is in credit by is swept into the one account,thus you don`t need to have Egg/virginjust cos of their SBT feature only maybe if you are BT`ing another RBS group card e.g. Natwest/Mint etc

thaylock

YorkshireBoy, thanks, I have taken a note of all of your recommendations & will cover these points with Virgin.

Hobo, Yes I have a OneAccount mortgage, but I threw away my visa card as I do not intend to use it, the point you raised about using it as a mule is something I will look into further, thanks.