Best Balance Transfers Discussion Area

GrammarGirl

Moggles wrote: »

The only card company I know which specifically excludes applicants, who have been turned down during the previous 6 months, is Capital One.

That said, why not play safe? There are other options besides Virgin.

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

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

Alternatively, you'd get 14 months with Tesco. A 2.9% BT fee applies.

http://www.tescofinance.com/personal/finance/finance/creditcards/bonuscc/index.jsp

For a comprehensive list of 0% balance transfer cards, updated regularly and not influenced by advertising commissions, the stoozing site (which is sponsored by Money Saving Expert) is hard to beat

http://www.stoozing.com/0fees.htm

Thank you Moggles, you've been a great help!

Moggles_2

moneysaver8 wrote: »

I'm thinking of the Lloyds, HSBC or Halifax card for my next BT (already got Virgin) but I was wondering whether any of these charge interest on the Balance Transfer fee. Does anyone know if any of these cards charge interest like this?

Whilst the majority of lenders now charge balance transfer fees (a trend started by MBNA), few currently charge interest on BT fees.

HSBC and Halifax have never charged interest on fees, but LloydsTSB treats these handling charges as purchase transactions which are paid off last, so the BT fee is left sitting on successive monthly statements attracting interest.

molley

I just don't believe Abbey .I applied on-line at the beginning of November for an Abbey Zero c/c and eventually got the agreement to sign and returned it .No other stuff asked for ( like evidence of addressetc ) as I have had an Abbey current account for years . Ten days ago I got the Pin Number through and last Friday the card arrived so I activated it then called and arranged on-line access so am awaiting the number for that .
What did I get through the post this morning but a letter saying they can't send the CC out as I didn't return the verification of address etc that they asked for ....... Aaaaaaaaargh!!!

Moggles_2

molley wrote: »

I just don't believe Abbey. I applied on-line at the beginning of November for an Abbey Zero c/c and eventually got the agreement to sign and returned it .No other stuff asked for (like evidence of address etc ) as I have had an Abbey current account for years. Ten days ago I got the pin through and last Friday the card arrived, so I activated it then called and arranged on-line access, so am awaiting the number for that. What did I get through the post this morning but a letter saying they can't send the CC out as I didn't return the verification of address etc that they asked for .. Aaaaaaaaargh!

Credit card companies normally use the electoral roll to verify an applicant's ID electronically even, believe it or not, when the applicant is already a current account customer. Are you registered at your current address, Molley?

That said, Abbey has been painfully slow in dealing with your credit card application. Sadly, that's been my experience with Abbey too. When Santander took some accounts back in-house circa July 2007 (from MBNA), customer service deteriorated almost overnight.

molley

Moggles wrote: »

Credit card companies normally use the electoral roll to verify an applicant's ID electronically even, believe it or not, when the applicant is already a current account customer. (1)Are you registered at your current address, Molley?

That said, Abbey has been painfully slow in dealing with your credit card application. Sadly, that's been my experience with Abbey too. When Santander took some accounts back in-house circa July 2007 (from MBNA), customer service deteriorated almost overnight.

(1) I am and always have been..

When I called them to ask them why they had asked for this when I already had the card and activated it she said to take it in to a Branch with some ID and show them the letter .I said " I have a better idea .I'll put it in the shredder " but I changed my mind .I just typed out a snotty letter and stuck the prepaid envelope to a big envelope and will post the letter back to them .

Umer

Hi guys, gotta a couple of questions for my first ever balance transfer hoping you can help.

Bit of background: I wanted to trasfer my balance from a halifax card at the end of jan. Always thought 6 weeks was the best time to apply for a new card, and so went straight for the Virgin money one. However I didn't realise it was an instant application. It says my card will be with me in 7-10 days, but obviously I don't need to use it for a few weeks. So my questions...

1) does any one know is my account now "open" or do I have to activate it in a certain time period from receving it (and thus delaying the time for the balance transfer promotion from starting)?

2) during the application process it asked me for details of the balance transfer I wanted to do (including the other credit card number). Is that officially the my balance transfer request or can I change it still?

Thanks on the way to anyone that can help!

YorkshireBoy

Umer wrote: »

...<snip>...

1. If you signed 'electronically' online at the end of the application process your account will be open now. If not, then they'll send you a credit agreement to sign and return, and your account will be open when the receive this agreement back and process it.

2. I would assume your BT will be actioned (because others have reported so on here). However, best to ring them and check. Suggest you wait a week or so before calling though. I wouldn't try to change the BT you've requested, but ask for another one if you have spare available credit.

You know you have to make BT's within 60 days to enjoy the 0% offer?


And one final thing...when you call to activate the card, in order to maximise the intro period make sure you request a statement date of 'yesterday'. By that I mean if you call on the 23rd, ask for a 22nd of the month statement date.

frenchconnection200

Sorry if similar has been asked before, I owe £3000 on an 0% BT card with MBNA, it's due to end soon and the best BT card is another MBNA card. I know it's paying the fee twice over but I'm thinking of transferring the balance to my Halifax card then transferring it to a new MBNA card. Do you think MBNA would cotton on to this and not give me another card? My other option is a life of balance low interest rate card. I pay around £130 a month off and will not be adding anymore to the balance. Advice gratefully received.

YorkshireBoy

frenchconnection200 wrote: »

I know it's paying the fee twice over but I'm thinking of transferring the balance to my Halifax card then transferring it to a new MBNA card.

Super balance transfer a ficticious overdraft from your current account to the new MBNA card and settle the old MBNA card debt from your current account. That way you'll only pay one 3% fee.

However, depending on your MBNA internal credit rating and your other circumstances, you may be declined or receive a poor credit limit. Perhaps you'd be better to apply elsewhere?

taffytim22

HI

I have a balance of about £2500 and plan to pay this off within 6 months, my 0% interest rate is about to end.

Ive been a bit a a cc flirt recently and have both the Ulster card and the Abbey card so I cant use the 0% transfer cards - I live in england so I believe I cant apply for the Northern bank card.

I have therefore applied for the barclay card, have i made the best decision or have i missed something?

Thanks
Tim