Best Balance Transfers Discussion Area

JimmyTheWig

essajay wrote: »

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

Have you got an Egg Money card?

Moggles_2

queen-d wrote: »

I had a balance of £6300 on an MBNA card, applied for a Halifax ONE card (0% for 15 months), they 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%! HUGE savings - Thanks everyone

Congratulations & thanks for posting.
:beer:

Note for future reference: whilst the Hally doesn't seem to mind its customers having more than one of its credit cards, your credit limit on the new card would have been reduced to compensate for the existing one. Had you closed your existing card a/c, waited a month, then reapplied, you may have been handed a more generous limit

(This doesn't apply across the board. Lenders vary in this respect, as with everything else.)

helmul

hi, new to site and getting confused
my partner and i have a capital one mastercards each. Approx 6K and 7K on each . Is it possible to shift both amounts onto one new card via a balance transfer so we can clear whole thing in one go. No sites i have viewed really explain if this is possible .... Or do they have to remain separate to each of us. Our general finances are joint ie the current account

Moggles_2

helmul wrote: »

My partner and I have a Capital One Mastercard each. Approx 6K and 7K on each . Is it possible to shift both amounts onto one new card via a balance transfer so we can clear whole thing in one go or do they have to remain separate to each of us? Our general finances are joint ie. the current account.

You cannot hold a credit card jointly. The one who applied would become the principal cardholder and s/he would be solely responsible for the debt.

Theoretically, it would be possible to transfer your debts to a single credit card, provided that one of you was handed a sufficient credit limit to accommodate a total of 13K. Bear in mind, most lenders restrict balance transfers to 95% of your credit limit. Abbey and Barclaycard limit BTs to a maximum of £5000.

helmul

so i assume from that options are limited... cut the cards up and start making inroads on each card much as i would if i went along the route of BTs .

YorkshireBoy

Moggles wrote: »

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

Whilst the 'advertising' says, for example, "until 1st October 2009" , the T&C's say "until the day after your October 2009 monthly statement". An end of month (28th sounds good ) statement date will bag you (up to) one month extra.

Abbey...limit BTs to a maximum of £5000.

Really? I've recently made a >£5K BT to Abbey. When did that come in?

Moggles_2

helmul wrote: »

So I assume from that options are limited... cut the cards up and start making inroads on each card much as I would if I went along the route of BTs .

There's nothing to stop the two of you from applying for separate 0% BT cards, is there?

Which other credit cards - besides Cap One - do you and your partner have at the mo?

Moggles_2

Originally Posted by Moggles
Abbey ... limit BTs to a maximum of £5000.

Originally Posted by YorkshireBoy
Really? I've recently made a >£5K BT to Abbey. When did that come in?

How interesting! If memory serves, the relevant circular arrived some while after Santander took over the operation from MBNA. I thought it applied to everyone. Clearly, that's not the case.

helmul

none lol. we re relatively good in credit card dept, have regular incomes and dont do debt . just got a bit out of hand last few years with growing family needs

Moggles_2

helmul wrote: »

We're relatively good in credit card dept, have regular incomes and don't do debt. Just got a bit out of hand last few years with growing family needs

It's not an exact science of course but, judging from the posts on here, you're more likely to get a generous credit limit with MBNA than some lenders I could name.

To maximise the 0% period, 15 months is currently available to new customers from Virgin (issued by MBNA). There's a 2.98% handling charge.

http://uk.virginmoney.com/credit-card-v3/

Alternatively, you'd get 14 months with a new Egg card

http://new.egg.com/visitor/0,,3_84106--View_1763,00.html