Best Balance Transfers Discussion Area

TraceyJ_2

I just phoned Barclaycard to close my account and was offered a 0% life of balance, zero fee, transfer. I would need to spend £25 each month on my card and my payments would reduce the balance transfer before my purchases. I have a feeling this is not a good deal but wondered if someone could confirm this. The member of staff I spoke to said I would pay approx 30p interest in month 1, 60p in month 2 etc.

Thanks if you can help (I would just be stoozing btw).

Moggles_2

TraceyJ wrote: »

I just phoned Barclaycard to close my account and was offered a 0% life of balance, zero fee, transfer. I would need to spend £25 each month on my card and my payments would reduce the balance transfer before my purchases. I have a feeling this is not a good deal but wondered if someone could confirm this. The member of staff I spoke to said I would pay approx 30p interest in month 1, 60p in month 2 etc. I would just be stoozing btw.

Well, as you have no real debts and there's no balance transfer fee to pay, you've nothing to lose in taking up this offer for a bit.

£25 per month may not sound all that much, but these purchases remain trapped on the card, as you've said, attracting interest at your standard rate (typically 14.9% APR) until the interest-free balance transfer is fully paid off, so you'll need to be disciplined about spending no more than the required £25 per month.

Also, remember your standard purchase rate, whatever it happens to be now, is not fixed like the balance transfer deal. It's variable. Barclaycard could decide to raise this rate at any time, so be prepared to ditch & switch when necessary

essajay

Can anyone tell me if the onepulse card cut off date for 0% interest is 01/12/09 or is this the latest you can transfer and get 0% for a set time

john5_2

Welcome to MSE & the credit card board! thanks

Moggles_2

essajay wrote: »

Can anyone tell me if the OnePulse card cut-off date for 0% interest is 01/12/09 or is this the latest you can transfer and get 0% for a set time?

Barclaycard doesn't go in for blanket end dates, like Capital One and Egg. The cut-off date depends on the date you sign up

Currently, Barclaycard OnePulse offers 0% interest on balance transfers for 14 months from the opening of your account, provided that you make the transfer(s) within 60 days of account opening.

mbee123

Are Barclaycard a bit on the slow side? I applied for a Pulse card online and was accepted but have heard nothing in 2 weeks, is this typical?

Moggles_2

mbee123 wrote: »

Are Barclaycard a bit on the slow side? I applied for a Pulse card online and was accepted, but have heard nothing in 2 weeks. Is this typical?

I wouldn't say so. The OnePulse card has been heavily advertised, so Barclaycard is probably flooded with applications.

For peace of mind though, why not call B'card Card Services? If you ring 01604 234234, you'll avoid the dreaded 0870 numbers

essajay

Just received a 0% natwest card but it excludes BTs from capital 1 as its part of the same group, is there a listing of cards affilliated to its parent banking groups to avoid applying for uneccesary cards

queen-d

I've just taken Martin's advice and saved myself a small fortune :T

I had a balance of £6300 on an MBNA card, appiled for a Halifax ONE card (0% for 15 months), they only told me I could only transfer £3500 onto it. :mad:
I then called the Halifax as I have a different card with them (only 7% of the available credit limit used), they offered me 8.94% life of balance on BT.

MBNA Interest rate 23% !!!!!
Halifax ONE interest rate 0% - 15 months - £3500 transferred
Halifax Interest rate - 8.94% - £2800 transferred

HUGE savings - Thanks everyone

Moggles_2

essajay wrote: »

Just received a 0% NatWest card, but it excludes BTs from Capital 1, as it's part of the same group.

Not so. NatWest belongs to the Royal Bank of Scotland group. Capital One is a completely separate firm.

Originally Posted by essajay
Is there a listing of cards affiliated to its parent banking groups to avoid applying for unnecessary cards?

There's a comprehensive list of card issuers here, which is hard to beat:

http://www.stoozing.com/cards.htm