0% Halifax Balance Transfer Offer Not Honoured

0tter

Wondered if anyone knows where I stand with this? I received a 0% balance transfer deal for my Halifax credit card, 16 months at 0%, a great deal but I had little in the way of available funds on this card. As the balance was so high and in order to take advantage of the deal I moved my full balance to two other credit cards and then phoned to make the transfer. 

I passed through the security checks but was informed that they could no longer honour that offer as there was a block on my account; the first operator suggested I had to go to Experian and clear anything that may be blocking my account. To this end I tried Experian, in fact I tried checkmyfile too and both came back with a clear record, only one stain in 2016 (I missed one payment on another card but that certainly hadn't changed anything since the offer letter) also no enquiries on there from Halifax.

I got back in touch and was informed that there was still a block on my account and I asked to be transferred to customer services. In an hour-long call, they told me that there was nothing they could do apart from lodge a complaint that could take over a fortnight and that they did not know why my account had been blocked. 

I am now am typing this forum entry while on hold to customer services with Halifax, the phone has been ringing for nearly half an hour, the deal expires today, it has cost me nearly £200 to transfer the funds out, no-one has yet been back in touch, there is no disclaimer I can see on the letter to inform me that they may waiver the deal, it really isn't good.

Do I have a leg to stand on, is this normal procedure....?

[Deleted User]

You have no legs, unfortunately.

Open a BT card elsewhere.

0tter

This was a great deal, shame I missed it... legs do help.

SnowTiger

0tter said:

Wondered if anyone knows where I stand with this? I received a 0% balance transfer deal for my Halifax credit card...

I passed through the security checks but was informed that they could no longer honour that offer as there was a block on my account; the first operator suggested I had to go to Experian and clear anything that may be blocking my account. 

Experian wouldn't be able to block a balance transfer.

Halifax may chose not to allow you to to a balance transfer based on information it received from Experian.

It seems the customer service rep you spoke to was misinformed or made up an excuse to get rid of you.

A similar story was posted a few days ago about MBNA backing out of a balance transfer offer.  MBNA and Halifax are part of Lloyds Banking Group: https://forums.moneysavingexpert.com/discussion/6165702/mbna-gone-bad-on-balance-transfer-offer/p1.

Sandtree

SnowTiger said:
Experian wouldn't be able to block a balance transfer.

Halifax may chose not to allow you to to a balance transfer based on information it received from Experian.

I think you and I have read what the OP said differently (which also raises the Q of misunderstanding from the OP and their bank).

To me, the OP didn't say that Experian had blocked the transfer but their bank had said it may have been due to something Experian told them (but ultimately the banks decision).

OP - what was your intent? You moved the balances off of your existing card with them... were you intending to move the same balances back under this offer?

Promotional rates like this are typically solely at the banks discretion (you need to read the T&Cs of the promo you received). As such, doing a BT to reduce your balance may have voided the offer for you (though I have successfully moved a balance off to leverage a promotional rate in the past).

SlovakianGuy

Sorry, I don't want to start a new thread just for this, but I have a 0% purchase card with Halifax with following 16 months still on 0% rate. Halifax is now offering me a balance transfer card with 12 months 0% rate for a 3% fee. Isn't it ridiculous? Who in their right mind would do that? How they can even come up with such offer?

bradders1983

People are slowly realising on this forum that luck sometimes runs out with these 0% offers, and the reality emerges that they may actually have to start servicing the debt properly rather than shifting it around ad infinitum.

Who in their right mind would pay a 3% fee? Probably people who have worked out paying a 3% fee would be less than the comparable interest over 12 months? Just a thought.

[Deleted User]

Lots of people in their right minds would do that.  You'll find many of them on these boards.

Different offers are targeted at different populations, and it's a much better deal than keeping a balance at a higher rate elsewhere.

D3xt3r5L4b

SlovakianGuy said:

Sorry, I don't want to start a new thread just for this, but I have a 0% purchase card with Halifax with following 16 months still on 0% rate. Halifax is now offering me a balance transfer card with 12 months 0% rate for a 3% fee. Isn't it ridiculous? Who in their right mind would do that? How they can even come up with such offer?

Ridiculous how?

SlovakianGuy

D3xt3r5L4b said:

Ridiculous how?

The new card they're offering has only 12 months 0% rate. My current card is 20 months 0% and I only opened it 4 months ago, which means I still have 16 months with 0% on it.  Why would I transfer it to the card with only 12 months that needs to be paid off 4 months earlier and on top of that, pay the 3% fee?

[Deleted User]

The idea isn't that you transfer debt that is on already on a better deal.  The idea of a BT is that you reduce your borrowing costs.