Can't Transfer Closed Credit Card Balance

GettingThrough84

I'm pretty upset right now. I've been trying really hard to get my finances in order and my debt under control and feel pretty proud of how I've done. I had a Barclaycard that a couple of years ago I entered into a payment plan on because I was struggling to make payments. I stuck with the payment plan and didn't miss a single one and for the past year have been paying a little over the minimum payments. When I was on the payment plan my card was closed, which I was really happy about actually so I wouldn't be tempted to spend, but I've been off the payment plan for a year now, my credit score is good for the first time ever and I really want to be able to transfer the rest of my balance, about £3k, to a 0% interest card so I can get it paid off. But apparently if you have a closed account there is no way to transfer your balance. This seems so despicable to me, it shouldn't be legal to not allow someone who is clearly struggling with debt to do anything to better their financial position this way. My interest rate is quite high and I feel like I will never ever pay this off at this rate. 

Thrugelmir

Up your repayments. Then the interest charged will fall away quicker. Alternatively find a loan from a cheaper source. 

[Deleted User]

Alternatively, use a money transfer card.

However, with a low credit history, you're unlikely to get either a MT or BT offer.

GettingThrough84

Thrugelmir said:

Up your repayments. Then the interest charged will fall away quicker. Alternatively find a loan from a cheaper source. 

I appreciate your reply, but I'm struggling to find pay more than I already am. I will look for a loan, it's not something I've ever done or considered. It just seems so wrong to keep someone locked into a high interest debt. 

GettingThrough84

Deleted_User said:

Alternatively, use a money transfer card.

However, with a low credit history, you're unlikely to get either a MT or BT offer.

Thanks for your reply. I have a balance transfer offer through Virgin on a 0% card, but I just can't move my debt onto it. I haven't looked into money transfers much but doing the quick eligibility calculator here doesn't look like I'm eligible. I will keep looking. I want to tackle this and not just give up and stay paying higher interest than I need to. 

SuperAllyB

Where are you transferring from? If you've still got the card details I can't understand why you wouldn't be able to transfer the debt.

EarthBoy

All a balance transfer means, is that your new credit card company makes a payment to your old credit card to clear the balance.  You then owe the balance to the new credit card company instead.  That's all it is, a payment.
I can't see why a balance transfer to a new card (aka paying off your old card) wouldn't work if the old card account has been closed, -unless Barclaycard are rejecting the payment when Virgin send it. 
When the Barclaycard was closed, and you started your payment plan, did Barclays give you different payment details, i.e. a different account number and sort code for making the payment?  If so, that might be why the payment (aka balance transfer) from Virgin isn't going through, -they could be using the standard payment details for paying Barclaycards, instead of the new ones that Barclays gave you.

mcpitman

Hi,

Use the 16 digit card number on your statements from Barclaycard.

Input that into balance transfer screen on Virgins website.

Robert is your mother's brother.

GettingThrough84

mcpitman said:

Hi,

Use the 16 digit card number on your statements from Barclaycard.

Input that into balance transfer screen on Virgins website.

Robert is your mother's brother.

Unfortunately I can't find the 16 digits, the Barclaycard statement only lists the last four digits and I can't find them anywhere on my online banking. Is there a way to find your card details if they aren't on your statement and you don't have a card anymore? I've even looked on my credit report to see if they had them. 

Thrugelmir

GettingThrough84 said:

Thrugelmir said:

Up your repayments. Then the interest charged will fall away quicker. Alternatively find a loan from a cheaper source. 

I appreciate your reply, but I'm struggling to find pay more than I already am. I will look for a loan, it's not something I've ever done or considered. It just seems so wrong to keep someone locked into a high interest debt. 

Lenders assess risk at a macro level across their whole lending book. To deal with everything at a micro level, i.e. each individual case, would greatly increase cost. Chipping away at debt can be a slow painfull task. Stick with it. You will get there in the end. Every £ counts. Though it may make little difference at the time. 

molerat

GettingThrough84 said:

mcpitman said:

Hi,

Use the 16 digit card number on your statements from Barclaycard.

Input that into balance transfer screen on Virgins website.

Robert is your mother's brother.

Unfortunately I can't find the 16 digits, the Barclaycard statement only lists the last four digits and I can't find them anywhere on my online banking. Is there a way to find your card details if they aren't on your statement and you don't have a card anymore? I've even looked on my credit report to see if they had them. 

Have you not got the payee details in your on line banking ?  The 16 digit card number is how they know where to allocate the money so it is held somewhere, all my card numbers show up in my Santander on line banking payee details, who do you bank with ?