Best Balance Transfers Discussion Area

paddingtondoo

Double_Trouble wrote: »

[]If he applies for a 0% deal and is accepted can we BT my balances onto his card?[]

Hi Paddingtondoo

Yes you can as long as he is happy to be responsible for your debt my DH and I do it all the time.:rolleyes:

Best wishes Mandy

Thanks Mandy,
He's an authorised user on the Tesco card so most of it is his as I can't trust him with a debit card

Moggles_2

Originally Posted by causey25
In April 09 my MBNA shoots up to 28% APR (or something similar).

Now, already Barclaycard are offering me a BT back at 0% until Oct 09, but it's another fee to pay & will lose me the option of transferring onto a LofB rate in April and in Oct next year all my offers will run out at the same time with me still owing about £7000 overall.

I would avoid deals that expire together, if I were you. If B'card makes you another 0% offer in Jan-March, fine. If not, you've plenty of time to apply for a new 0% BT card then

I think I should take the 0% offer up with B'card - swallow the other fee - & hope I can get another offer in a year's time. Bird in the hand is worth 2 in the bush right?

You stand to lose almost 6 months at 0% if you take up this offer, but it's your choice really.

Aargh, but my available credit is so high! If I close the Abbey it'll look better on my credit file next Oct, but I'll miss out on them trying to entice me back.

Is your Abbey card run by MBNA or Santander? If the latter, this lender is not known for good existing-customer offers unfortunately. This account may simply be bumping up your available credit for no good purpose.

causey25

Hi Moggles
Thanks for your advice - I think I will try to hold my nerve & stay as I am until the New Year.

The Abbey card is Santander - they gave me £100 & 0% for 12 mths with no BT fee to get my balance from my old MBNA Abbey card - but they've put the interest rate up recently & I think you are right - I shouldn't expect anything else from them.

Thanks again :T

atlantis187

Thanks for that mandy,

Just a few more questions:

If virgin give me a limit of £2000 and I super balance thansfer all this into my account they will charge me a fee of £59.60 based on the 2.98 handling fee. Even with paying this fee will I gain overall after the 16 months? My current account which is linked to my mortgage is currently set at 5.29%

Thanks

Moggles_2

atlantis187 wrote: »

If Virgin give me a limit of £2000 and I super balance transfer all this into my account, they will charge me a fee of £59.60 based on the 2.98% handling fee. Even with paying this fee will I gain overall after the 16 months? My current account which is linked to my mortgage is currently set at 5.29%

Yes. Of course the higher your credit limit, the greater the gain.

On receipt of your new card & credit limit, you can request the transfer of funds to your bank account. I would do this when you call to activate your card. There's a Freefone number. (Btw, Martin coined the phrase super balance transfer. If you use this expression, Virgin's staff will not necessarily know what you mean.)

Virgin allows you to borrow up to 95% of your credit limit. The money arrives in your bank account in about 6 days

screid

I have an HSBC Mastercard and a Tesco Bonus Credit Card which I would like to shift to a 0% credit card or to two seperate ones. My questions are

1. Which are the best deals at this moment in time
2. Can I just phone up HSBC and Tesco's and request that they switch my existing cards to 0% to save the hassle of switching?

Any advice gratefully received.

Thanks
Shaun

Moggles_2

screid wrote: »

I have an HSBC Mastercard and a Tesco Bonus Credit Card which I would like to shift to a 0% credit card or to two separate ones. Which are the best deals at this moment in time?

Which credit cards - besides HSBC and Tesco - do you have at the mo?

Can I just phone up HSBC and Tesco's and request that they switch my existing cards to 0% to save the hassle of switching?

There's no harm in asking certainly, but you would be in a stronger position to negotiate once the balances are cleared to zero

screid

Hi Moggles,

Thanks for replying so quickly.

I only have the two mentioned, HSBC and Tesco

Shaun

Moggles_2

screid wrote: »

I have an HSBC Mastercard and a Tesco Bonus Credit Card which I would like to shift to a 0% credit card or to two separate ones. Which are the best deals at this moment in time?

To maximise the 0% period, 16 months is currently available to new customers from Virgin/MBNA. There's a 2.98% handling charge
http://uk.virginmoney.com/credit-card-v3/

Alternatively, you'd get 14 months from Egg card. A 3% BT fee applies.
http://new.egg.com/visitor/0,,3_84106--View_1763,00.html

aaron772

still seems like a very good deal with 16% to offset 2.98%



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