SBT Credit Cards

thaylock

Just received Virgin credit card, Balance transferred £9900 into my current account last night. I asked the person for his full name & extension number, also asked him if I would be charged for this transaction, he said no, but I told him I logged into my account & it stated I will be charged 2% of the amount (max £35) unless told otherwise, he said if I carried out the transfer via the Internet then the charge will be applied, but I will not have to pay it if I did it over the phone with him. He then went on to try & sell me insurance, which I promptly rejected. Once this transaction has gone through (about 7 working days), I will apply for another 0% card & use my Virgin card as a mule (as per the stoozing web site), if this goes as planned I will not have to pay any interest on my oneaccount mortgage, excellent.

koru

egg now seem to charge a fee.

The monthly e-mail to say that I should view my on-line statement says they have changed the T&Cs. Their "summary" of the key changes does not seem to think it important, but if you view the full T&Cs, they now include a 2% fee for BTs and SBTs.

lush_walrus

Hi Guys....

I just wanted to check one point before I start to join you all on this SBT track. Is there anyway that you can stipulate the maximum credit you can apply for. Not sure if that is phrased right, but what I am trying to say is that I would like to apply for £9,000 to move into another account, can I state this on the application or do you get what you are given?

As far as I know I have a good credit rating, the last normal credit card I applied for I was automatically given £10,000.

But as I am planning to start on my 'career' in Stoozing I want to make sure that applying for the card is worth it against the interest I will get back.

Sorry a bit rambling, any advice would be gratefully received!

Reaper

You can't specify a credit limit, they will give you whatever they feel like. Occasionally they will increase it if you apeal, particularly if you provide extra information (eg proof of savings) or say you intend doing a balance transfer from another card and then canceling it, therefore not increasing your total level of debt.

thaylock

Hobo wrote:

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

The OneAccount issue 2 cards, Maestro & Visa, does anyone know which card I can use to transfer a balance from another credit card ? Thanks.

thaylock

Just started a spreadsheet recording everything about this 0% card, i.e. 0% end date, card limit, balance, Date/time, extension number & name of person I spoke to when I requested the balance transfer. My spreadsheet also contains my checklist, i.e. 1. Confirm: All Balance Transfers done at the time in the 0% 9 month introductory period are fee free, 2. Record name, extension, date & time of person I spoke to, 3. Get exact date of the end of the introductory period. I am going to apply for a NatWest card within the next week.

YorkshireBoy

thaylock wrote:

Just started a spreadsheet recording everything about this 0% card, i.e. 0% end date, card limit, balance, Date/time, extension number & name of person I spoke to when I requested the balance transfer. My spreadsheet also contains my checklist, i.e. 1. Confirm: All Balance Transfers done at the time in the 0% 9 month introductory period are fee free, 2. Record name, extension, date & time of person I spoke to, 3. Get exact date of the end of the introductory period.

Copycat! By the way, don't forget the DD items, eg confirm set up, mandate received, statement date/payment due dates set up to suit *YOU* not them (coincide with salary etc). Good luck

thaylock

OK, Thanks YorkshireBoy

Chadsman

thaylock wrote:

The OneAccount issue 2 cards, Maestro & Visa, does anyone know which card I can use to transfer a balance from another credit card ? Thanks.

Since maestro is the sucessor to switch (a debit card) I would reckon it is the VISA. But if you ring your new card co and give them a debit card no and ask them to do a BT their computer will say NNOOOOOO :A (in my experience)

lush_walrus

thaylock wrote:

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).

Ive just applied for a virgin card via the internet. It didnt seem to give me a choice of how much I wanted to set my credit balance at...Have I missed something?