Best Balance Transfers Discussion Area

Moggles_2

samara wrote: »

Also, in the report it states that having joint accounts or bills could affect your score. I have just opened a joint account with my wife. She has no score as she is from overseas, but we now have a joint cheque account (no credit card, just atm card) and a joint utility bill. Will this affect me?

If you share a financial product with someone else eg. joint bank account, then you are financially linked and the poor management of their affairs could certainly affect your credit rating. Simply sharing utility bills has no effect unless these involve credit facilities. Your wife's lack of credit history neither helps nor harms your credit rating

paddingtondoo

Thanks for making me feel dim - yes I have read the T&Cs and they are a bit confusing.

This is what it says about payments on the website:
If the balance shown on your statement is less than £25, it will be the total amount of the statement balance; or
if the balance shown on your statement is £25 or more, it will be whichever is the greater of £25; or the total of any Payment Protection Cover charges, interest and default charges plus £5.

Balance is of course over £25 so was wondering if the payment would be the BT fee plus £5 or just £25 as "fees" are not mentioned.

As far as the statement date I was wondering if anyone knew if they had a generic date for statements as most CC cos seem to.

Am just trying to budget our xmas pay to decide to how to pay for the last few xmas pressies.

Moggles_2

Originally posted by samara
I want get a new bt card to transfer the Mint balance to, but it seems the only ones are Virgin or MBNA(same) or a 6 month Abbey one.

Depends, to some extent, on which cards - besides Barclaycard and Mint - you have at the mo or have held recently.

To maximise the 0% period, 15 months is currently available to new customers from Halifax. There's a 3.5% handling charge though.

http://www.halifax.co.uk/creditcards/pluscard153.asp

Alternatively, you'd get 14 months with Egg. There's a 3% BT fee.

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

JimmyTheWig

paddingtondoo wrote: »

was wondering if the payment would be the BT fee plus £5 or just £25 as "fees" are not mentioned.

Even though it's not explicitly mentioned, I do believe it will be BT fee + £5.

NickX

JimmyTheWig wrote: »

Even though it's not explicitly mentioned, I do believe it will be BT fee + £5.

Actually Jimmy judging by some advice from YorkshireBoy MBNA appear to have changed th rules very recently.

Apparently they now add the BT fee to the Balance Transferred and you basically just pay £25 from the first repayment.

YorkshireBoy

JimmyTheWig wrote: »

Even though it's not explicitly mentioned, I do believe it will be BT fee + £5.

The T&C's changed* in September Jimmy.

The BT fee is now added to the balance (as with other cards), and the first payment is indeed only £25.


* Very subtle changes (I missed them myself in my notice of variation ) to sections 1b and 2f.

Moggles_2

Originally Posted by paddingtondoo
As far as the statement date, I was wondering if anyone knew if they [Virgin] had a generic date for statements, as most CCs seem to.

If I were you, I'd ask your OH to phone Virgin Card Services on 01244 673700 (to avoid the dreaded 0870 numbers). As he's the principal cardholder, you cannot do this for him.

You'll find Virgin has good telephone back-up (unlike some card providers I could name :rolleyes:).
A CSA will be able to tell him the date his first statement is printed. If he has yet to activate the card, he can enquire then. (Virgin has a dedicated Freefone number for this )

Moggles_2

Marchbank wrote: »

I currently have a balance of £5K on Clydesdale mastercard 0% for remaining 5 months. Have zero balance on Egg card who have offered 5.9% for balance life (available up to 30/11) and would be able to transfer whole amount. I currently pay between £250/300 per month and, depending on next cut on rates (tracker mortgage), could up it another £100/150. Can you please advise?

If you take up Egg's offer, you'll lose the benefit of 5 months at 0%. If you've paid a BT fee to shift the debt to Clydesdale, I would leave it there, if I were you, and look for another 0% or low-rate BT deal next year.

That said, there's no perfect solution that suits everyone. Martin's *Best Balance Transfers* article explains the pros and cons of 0% and life-of-balance deals and how to decide

http://www.moneysavingexpert.com/cards/balance-transfer-credit-cards#choosing

Marchbank

Moggles

Many thanks

samara

Moggles wrote: »

If you share a financial product with someone else eg. joint bank account, then you are financially linked and the poor management of their affairs could certainly affect your credit rating. Simply sharing utility bills has no effect unless these involve credit facilities. Your wife's lack of credit history neither helps nor harms your credit rating

thanks for your time moggles.

the joint utility bill,is linked to a direct debit on my personal account,not our joint one.does this affect me? would i be able to remove myself from the account if it does?