Balance transfer large balance

SusieT

Daylight82 said:

Just to update any interested parties. 

I got £1500 limit on a 9 month 0% interest and also accepted on £3000 on a 26 month 0% too (despite 20% chance on eligibility checker!). 

I’ll now bounce £4500 from my largest balance to this and it will ease the interest a lot. 

Thanks again for the advice everyone 

If one card has an interest rate significantly higher than the other you will save more by transfering to that card first regardless of the balance. To try and increase the chances of getting further 0% cards in the future, always pay a few £ over the minimum payment as that will show on the credit report and helps later on when you have several months showing. 

CRISPIANNE3

maj1987 said:

I’m sure mbna are part of the Lloyds group so that might hinder a transfer between the two just a thought.

I have done a few transfers between Lloyds and MBNA and never found there was a conflict on interest.

Daylight82

Can I ask a supplementary to this please? 

I have now bounced as much as I can from my highest interest rate card (MBNA)  to the new 0% cards. Thank you all for the advice on that. 

MBNA have now offered me a balance transfer of 0% for 12 months for a 5% fee. Am I right in thinking it would be wise to move as much of my other interest-bearing card (Barclaycard) to this 0% offer? 

Dobbibill

Daylight82 said:

Can I ask a supplementary to this please? 

I have now bounced as much as I can from my highest interest rate card (MBNA)  to the new 0% cards. Thank you all for the advice on that. 

MBNA have now offered me a balance transfer of 0% for 12 months for a 5% fee. Am I right in thinking it would be wise to move as much of my other interest-bearing card (Barclaycard) to this 0% offer? 

If the interest you are likely to pay will out-weigh the 5% fee then yes, it's worthwhile. 

Do plan ahead to make sure you can pay off all balances within the various promo periods if possible.