Best Balance Transfers Discussion Area

molley

YorkshireBoy wrote: »

Egg cover it in the T&C's...

http://new.egg.com/visitor/0,,3_11087--View_1068,00.html (see section 9.3)

...and the FAQ...

What balances can I transfer?


MBNA, and MBNA run cards, call it a 'money transfer' and the 0% rate for this is shown in their T&C's/summary box.

Thx to you and NickX .I had a look in the Egg site and found what you say ,applied for an Egg card and it's now on it's way .( sorry for the rhyme ) So I can now do a bit of movement of my finances .

Moggles_2

molley wrote: »

I had a look in the Egg site and found what you say, applied for an Egg card and it's now on it's way.(sorry for the rhyme ) So I can now do a bit of movement of my finances .

The Egg, MBNA or Post Office cards are useful to have. Most others will not allow you to transfer funds to a bank account at all. Those which do (eg. Royal Bank of Scotland) class this as a money transfer and charge cash withdrawal rates :eek:

molley

Moggles wrote: »

The Egg, MBNA or Post Office cards are useful to have. Most others will not allow you to transfer funds to a bank account at all. Those which do (eg. Royal Bank of Scotland) class this as a money transfer and charge cash withdrawal rates :eek:

Indeed .Very useful to have I'd say . Before things were clarified I was thinking these transfers would be cash withdrawals hence my querying it .Thx to you also for the tip.

YorkshireBoy

Moggles wrote: »

Those which do (eg. Royal Bank of Scotland) class this as a money transfer and charge cash withdrawal rates :eek:

It's not quite as bad as that Moggles. RBSG Money Transfers are charged at standard purchase rates, and are fee-free.

I do concede that interest accrues from day one though, and that money transfers are locked in behind purchases in the 'order of payments', so not quite the same as going down the shops!

Moggles_2

YorkshireBoy wrote: »

It's not quite as bad as that Moggles. RBSG Money Transfers are charged at standard purchase rates and are fee-free.

I do concede that interest accrues from day one though and that money transfers are locked in behind purchases in the 'order of payments', so not quite the same as going down the shops!

Yes, of course. Still expensive IMO, although I made use of it a few times before the advent of Egg Money.

It was okay if the RBS card was not in use and you had a 0% BT card lined up ready to shift the RBS balance to. Nowadays, you'd probably incur a BT fee at that point.

Also, if memory serves, RBS would not allow you to transfer more than 50% of your credit limit, so you had to repeat the exercise sometimes, in order to get your hands on the required funds :rolleyes:

blueocto

Regarding the original article, I was considering BT over to Abbey Zero, but I noticed a few posts on the formu mentioning it had been withdrawn?
It is still advertised on their website, so I would have assumed they would have to honor the application, as they are still advertising the card?

My main enquiry was, on their Interest Rates page, it states

"Interest free period: Maximum of 56 days for Purchases if you pay your balance in full and on time. There is no interest free period on Cash Transactions, Balance Transfers and Cheques."
So would one assume that means that the transfer fee is NIL, but you will get charged interested on the BT amount?

YorkshireBoy

blueocto wrote: »

It is still advertised on their website...

I can't see it...only the new replacement card.

My main enquiry was, on their Interest Rates page, it states

"Interest free period: Maximum of 56 days for Purchases if you pay your balance in full and on time. There is no interest free period on Cash Transactions, Balance Transfers and Cheques."
So would one assume that means that the transfer fee is NIL, but you will get charged interested on the BT amount?

These are general conditions, ie once any 0% introductory offer period has ended.

blueocto

Cheers for the speedy response!

The one I'm looking at can be seen here :

http://www.abbey.com/csgs/Satellite?cid=1157698106817&pagename=Abbey%2FGSProducto%2FGS_InfProducto

YorkshireBoy

blueocto wrote: »

The one I'm looking at can be seen here :

http://www.abbey.com/csgs/Satellite?cid=1157698106817&pagename=Abbey%2FGSProducto%2FGS_InfProducto

I'm not sure where you got the link from, but if you click 'apply' then 'continue', and then scroll down the page and click 'summary box' you'll see that you're applying for the new card...NOT the Abbey Zero card.

molley

YorkshireBoy wrote: »

I'm not sure where you got the link from, but if you click 'apply' then 'continue', and then scroll down the page and click 'summary box' you'll see that you're applying for the new card...NOT the Abbey Zero card.

Which has this. Not sure what the Zero Card had in comparison.

"% for 9 months on balance transfers
That´s not the only way the new Abbey Credit Card can help you save. Bring over balances from your other credit and store cards and you´ll benefit from 0% interest for 9 months from account opening. That´s a typical saving of over £245 on a balance transfer of £3,000.2 You´ll also get 0% interest on all purchases for your first 3 months, all with no annual fee."
http://www.abbey.com/csgs/Satellite?cid=1210615795958&pagename=Abbey%2FGSProducto%2FGS_SubcategoriaP