Santander Balance Transfer

pingu007

Hi, just looking for a bit of advice if anyone knows or has been in a similar situation. I just applied for the Santander Everyday Long Term Balance Transfer Credit Card to transfer a Lloyds Credit card of around £3.5k and an American Express of around £4k into one monthly payment. 

I checked Experian and I was 95% chance of approval for the long term balance transfer credit card at £8k so have applied. Santander immediately accepted my application however on the application form I could only put in 1 balance so have put the Lloyds Balance, as I know from reading posts on here that Amex is a bit of a faff to transfer so thought I would do that later. 

However I am now wondering if I should have combined the balance and written that on the transfer request, I know too late now, although could possibly call?

In my credit agreements they state that they will provide the credit limit when they send me my card, presumably after someone has done a hard search on my credit file, however how do I know they will take into account both cards I am trying to transfer?

Has anyone done this with Santander or otherwise? If Santander only give me a limit of say £3k can I still transfer most of my Lloyds balance to this? 

I have also now re-checked my Experian credit card offers and Santander is showing as a 0% chance of approval, is that because I have already applied?

Thanks in advance. 

Nasqueron

It largely doesn't matter what you write on the application as the limit you get will be based on their algorithms, it's just an idea, I wouldn't call as you won't be able to speak to the computer making the decision, but if you asked for £8k but their system says £4k, you won't get £8k regardless. Related to this is the point about taking into account two cards - same point applies, whether you want to transfer 1, 2 or 10 doesn't affect the limit the system says you are getting.

If you only got 3k then yes you would be able to move 90-95% (depends on the card) of the limit, allowing you to pay the minimum and spend more on the interest bearing debt

Experian will know you applied so yes, they would immediately say you have no chance of this card - either you get rejected, thus they are correct, or you get accepted but can only hold one card of this type, thus they are correct.

QrizB

pingu007 said:

Santander immediately accepted my application however on the application form I could only put in 1 balance so have put the Lloyds Balance, as I know from reading posts on here that Amex is a bit of a faff to transfer so thought I would do that later.

Last time I took a balance transfer card, I transferred one balance as part of the application process then two more via my online account once I had the card.

I think that ws NatWest but Santander should be similar.

pingu007

Nasqueron said:

It largely doesn't matter what you write on the application as the limit you get will be based on their algorithms, it's just an idea, I wouldn't call as you won't be able to speak to the computer making the decision, but if you asked for £8k but their system says £4k, you won't get £8k regardless. Related to this is the point about taking into account two cards - same point applies, whether you want to transfer 1, 2 or 10 doesn't affect the limit the system says you are getting.

If you only got 3k then yes you would be able to move 90-95% (depends on the card) of the limit, allowing you to pay the minimum and spend more on the interest bearing debt

Experian will know you applied so yes, they would immediately say you have no chance of this card - either you get rejected, thus they are correct, or you get accepted but can only hold one card of this type, thus they are correct.

QrizB said:

pingu007 said:

Santander immediately accepted my application however on the application form I could only put in 1 balance so have put the Lloyds Balance, as I know from reading posts on here that Amex is a bit of a faff to transfer so thought I would do that later.

Last time I took a balance transfer card, I transferred one balance as part of the application process then two more via my online account once I had the card.

I think that ws NatWest but Santander should be similar.

Hi both, just wanted to say thanks so much for this. Have managed to transfer balances from credit cards onto Santander for 0% so feels like a massive weight has been lifted. Thanks again!

surreysaver

Santander's website says to ring them up to do a balance transfer from an Amex card. So do the other one online and ring them up to do the Amex one