0% Halifax Balance Transfer Offer Not Honoured

bradders1983

SlovakianGuy said:

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?

Is anybody holding a gun to your head and demand you move your balance over to it?

Its clearly aimed at people with balances to shift rather than people only 20% through an existing offer.

Thrugelmir

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?

At least you have been forewarned as to what the future may hold. 

D3xt3r5L4b

SlovakianGuy said:

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?

Well you can’t transfer between the same lenders anyway so that’s a moot point.

MEM62

SlovakianGuy said:

How they can even come up with such offer?

Risk management - all credit is being tightened up and market forces - everyone else is doing the same.  

born_again

0tter said:

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....?

A couple of questions.
"Lack of available funds"
So what were you trying to transfer in?
You then transfer your balance out, to find you could not transfer back in. What was the timescale between moving out & trying to move back in?
No mention of any interest rate you were paying on the balance at Halifax, so was this still in 0% or were you paying interest?

Can't see you getting the £200 back, as it was your choice to transfer out and they have clicked to what you are trying to do. Clearly something in your credit file has them worried. And as you no longer owe them anything. They do not want your custom.

Why are you phoning to do  a balance transfer? As it can be done either on the App or internet banking.

Perhaps you need to list your balances.

vacheron

OP. You mentioned that you paid £200 to move the balance to other cards in order to then (presumably) move it all back again? 

Did the cards you moved them to also have a 0% rate, becuse otherwise, if you can't move the money back again, you could end up with these funds (of approximately £6500 assuming a 3% transfer fee) stuck on cards with a a high rate until you can sort this out?

Or were you paying standard higher interest rates on the Halifax card to begin with?

[Deleted User]

I think the OP has long moved on - the thread has been resurrected with an unrelated post.