Balance transfer cards

almanak

what is the difference between the mentioned and standard credit card? Can you use it/apply for if you do not have any debt?

[Deleted User]

Yes, although you'd be better getting a card that offers benefits you can take advantage of.

almanak

Deleted_User said:

Yes, although you'd be better getting a card that offers benefits you can take advantage of.

but what does 'balance transfer' you have to make means then in this case if you do not have any balance/debt?

SuperAllyB

almanak said:

Deleted_User said:

Yes, although you'd be better getting a card that offers benefits you can take advantage of.

but what does 'balance transfer' you have to make means then in this case if you do not have any balance/debt?

You don't "have to" make a balance transfer on any card, but if you have no debt you may be able to find cards that are more beneficial.  Either lower interest rates or possibly cashback, although cashback are less likely to be available if you have little or no credit history.

Jami74

If you owe money on a credit card you can use a balance transfer card to transfer the debt onto the new card. You can apply for a balance transfer card, but if you have no debt on another card then you do not have a balance to transfer.

A standard credit card is for buying things with, and then paying for them a bit later  

MalMonroe

almanak said:

what is the difference between the mentioned and standard credit card? Can you use it/apply for if you do not have any debt?

Do you mean 0% balance transfer cards?

These are so that you can transfer an outstanding balance from one credit card to a credit card that will charge you 0% interest for a fixed time period.

So if you don't have an outstanding balance on any another credit card, it wouldn't really make sense to apply for any balance transfer card. You have to provide details of the credit card you wish to transfer the balance from when you apply and if you don't have such a card, then the application would not be viable. But a hard search may still appear on your credit report - for nothing.

If you have no debt but wish to apply for a credit card, you may be better off applying for a 0% purchase credit card. Or one with some other benefits, such as cash back.

In this case, as with many others, google is your friend - just search the internet to see what appeals to you.

Click the link below for information recently published by Martin Lewis -

https://www.moneysavingexpert.com/credit-cards/balance-transfer-credit-cards/

almanak

MalMonroe said:

almanak said:

what is the difference between the mentioned and standard credit card? Can you use it/apply for if you do not have any debt?

Do you mean 0% balance transfer cards?

These are so that you can transfer an outstanding balance from one credit card to a credit card that will charge you 0% interest for a fixed time period.

So if you don't have an outstanding balance on any another credit card, it wouldn't really make sense to apply for any balance transfer card. You have to provide details of the credit card you wish to transfer the balance from when you apply and if you don't have such a card, then the application would not be viable. But a hard search may still appear on your credit report - for nothing.

If you have no debt but wish to apply for a credit card, you may be better off applying for a 0% purchase credit card. Or one with some other benefits, such as cash back.

In this case, as with many others, google is your friend - just search the internet to see what appeals to you.

Click the link below for information recently published by Martin Lewis -

https://www.moneysavingexpert.com/credit-cards/balance-transfer-credit-cards/

I was thinking about  a 0% purchase credit card but seems eligibility criteria are the same as for standard credit card

almanak

MalMonroe said:

almanak said:

what is the difference between the mentioned and standard credit card? Can you use it/apply for if you do not have any debt?

Do you mean 0% balance transfer cards?

These are so that you can transfer an outstanding balance from one credit card to a credit card that will charge you 0% interest for a fixed time period.

So if you don't have an outstanding balance on any another credit card, it wouldn't really make sense to apply for any balance transfer card. You have to provide details of the credit card you wish to transfer the balance from when you apply and if you don't have such a card, then the application would not be viable. But a hard search may still appear on your credit report - for nothing.

If you have no debt but wish to apply for a credit card, you may be better off applying for a 0% purchase credit card. Or one with some other benefits, such as cash back.

In this case, as with many others, google is your friend - just search the internet to see what appeals to you.

Click the link below for information recently published by Martin Lewis -

https://www.moneysavingexpert.com/credit-cards/balance-transfer-credit-cards/

does Experian Credit club eligibility check is actually reliable? It shows different eligibility than I concluded myself and is it a good idea to apply from their website or directly from the card one?

almanak

almanak said:

MalMonroe said:

https://www.moneysavingexpert.com/credit-cards/balance-transfer-credit-cards/

does Experian Credit club eligibility check is actually reliable? It shows different eligibility than I concluded myself and is it a good idea to apply from their website or directly from the card one?

I can answer myself to this question. Hopefully will help others. Do NOT use Credit Club for applying as they do not have updated offers. Once you apply from their platform you get rejected because this offer do NOT  exist anymore. Apply from Credit card websites directly. What A HELP . I am not going to use Club Credit anymore. Luckily got a card (on the way) before they !!!!!!*p my credit score.

[Deleted User]

It doesn't matter if they change your score. Lenders will assess you for risk when you apply for a card.

Use first party eligibility checkers rather than third party.

almanak

Deleted_User said:

It doesn't matter if they change your score. Lenders will assess you for risk when you apply for a card.

Use first party eligibility checkers rather than third party.

well they have done hard check and I got rejected so it is visible to other lenders I guess. Luckily just a minute after applied for better card from their website and got accepted