Best Balance Transfers Discussion Area

Tallulah43

Could anyone give advice to a money slacker (altho determined 2009 will be year of change)

I switched from abbey to A & L last March. Abbeys service had nosedived and had had enough so swith to A & L premier which gave me a 2K overdraft. My od with Abbey was 1750 and stupidly did not pay it off but have not used a/c since. Had a letter from abbey last week to say that od was being withdrawn and any owing would move to non preffered od rate.

Already have A & L card to 4K max and mint to near max and a store card with hefty rate.

I was thinking about if I could balance transfer my store card and overdraft to a 0%.

I tried to do this with Virgin but on online option, it didn't give the opportunity for store card or overdraft to be added??

Only other option I could think of was to let od go onto non preferred rate and just make arrangement to pay it off and leave others as they are, but try and pay od and store off quicker. Its not that I am struggling but have always been 'I'll do it later and later never comes'

Also OH doesn't have his name on my A & L card so could he apply for Virgin in his own right even tho all part MBNA and we are at same address??

Hope this all makes sense

CazandCo_2

Thank you Moggles. I wouldn't think that i would be given a huge credit limit to start with, but was hoping to get enough to at least pay of some of my existing credit card. No harm in asking them though.

Thanks again.

Money_Fritter

Hi Folks,

Hope everybody had a good christmas and new year.

I have about £2300 on a bog standard barclaycard. I noticed that the best 0% deals (apart from virgin, which I already have) are other barclay cards (onepulse or platnium card). Can I ask to be transferred to one of these cards, thus having an interest free period. Or could I just apply for a card and then transfer my existing debt from my old barclay card to the new interest free one.

Thanks in advance

Money Fritter

Moggles_2

Tallulah43 wrote: »

I was thinking about whether I could balance transfer my store card and overdraft to a 0% [credit card]. I tried to do this with Virgin, but online it didn't give the opportunity for store card or overdraft to be added?

To transfer your overdraft balance to Virgin, please see post #1496 immediately above yours.

Credit limit permitting, you would then have funds in your current account with which to pay off your store card.

OH doesn't have his name on my A & L card, so could he apply for Virgin in his own right even though all are part of MBNA and we are at same address?

Each applicant is scored individually, so the fact that you have an A & L card neither helps nor hinders his chances of acceptance by Virgin

Moggles_2

Money_Fritter wrote: »

I have about £2300 on a bog standard Barclaycard. I noticed that the best 0% deals (apart from Virgin, which I already have) are other Barclaycards (onepulse or platinum card). Can I ask to be transferred to one of these cards, thus having an interest free period or could I just apply for a card and then transfer my existing debt from my old Barclaycard to the new interest free one?

Barclaycard will allow you to hold more than one of its cards (I have three at the mo), but you cannot transfer balances between cards which are underwritten by the same bank.

Coppicerex278

Help please..........

I currently have an MBNA card with balance of £2700 and limit of £2500, i've missed payments due to being unable to pay and had default notifications. From next month i will be able to pay £200 a month to start clearing the balance but are there any cards out there that will be better if i transfered?

I do have a poor credit rating due to stupidness in the past, any help is much appreciated as i'm finally sorting out my finances.

Moggles_2

Coppicerex278 wrote: »

I currently have an MBNA card with balance of £2700 and limit of £2500. I've missed payments due to being unable to pay and had default notifications. From next month I will be able to pay £200 a month to start clearing the balance, but are there any cards out there that will be better if I transferred?

A low-interest balance transfer card is probably not an option at the mo, TBH.

Lenders launch these promotions, which are sometimes heavily advertised, to draw in new customers. Often they are flooded with applications and can afford to cherry-pick applicants. They are all going to see you as too great a risk.

A late payment or two will not affect your credit score for long, but missed payments can wreck your credit rating. This will not affect you permanently, but it takes time to rebuild a credit history.

For tips to improve your chances of credit card acceptance, have a look at the *Credit Rating: how it works and how to improve it guide*, especially Martin's *Manage and Improve your credit score* article

http://www.moneysavingexpert.com/banking/credit-rating-credit-score#improve

Your post raises other issues and you may want to post again on the *Debt-Free Wannabe* board. You'll get lots of advice and support there.

Tallulah43

thanks moggles.
OH has just applied to Virgin online and been accepted with a limit of 5600 so we can transfer od and store card to that so all that interest we would have been charged will now go to actually paying the amount off.

We can't believe tho how quick a decision was made....literally seconds
Our request is totally legit but how easy must it be for someone to fraud info...I can't believe it was that quick and its like my hubby has just said, how can they know that alls ok. oh well just a thought !

But Yay....first positive money move of 2009 :-)

Moggles_2

Tallulah43 wrote: »

OH has just applied to Virgin online and been accepted with a limit of 5600 so we can transfer od and store card to that so all that interest we would have been charged will now go to actually paying the amount off. We can't believe how quick a decision was made....literally seconds. Our request is totally legit but how easy must it be for someone to fraud info?...I can't believe it was that quick and how can they know that all's ok? Oh well just a thought. But Yay....first positive money move of 2009!

Congratulations on jumping the right way.
:beer:

Most credit decisions are computerised and Virgin give instant decisions and credit limits, provided that your ID, credit worthiness etc. can be verified electronically.

There's risk attached to everything but, IMO, credit cards are the safest way to purchase goods/services. (If you carry cash, it could be nicked. If you use cheques, they could get altered.) With today's online facilities, it's never been easier to keep track of spending, payment due dates etc. and fraudulent transactions should you experience any, than it is now. I'm sure you'll be fine

peanut1964

:T I have set myself a target this year to reduce my debt as much as possible, by either changing providers/Lenders, transferring, cutting down or downgrading. I have been doing OK, but I am having trouble with Barclaycard, who I have been with for over 7 years. For the past 2 years they are not willing to budge, :mad: and silly me have taken it .............. but not this time.

I have a Barclaycard balance of £550.
Purchase Rate 19.9%
Cash rate 27.9%

My minimum payment is usually around £10-15 per month, but I usually pay around £30 per month, but I want to clear the balance faster.

I contacted them today and informed them that I need to reduce my balance quicker or I may transfer, can they offer me anything better. They would not budge, :mad: :mad: saying that there is nothing they can do at the moment, as they go by past history, credit scoring etc.

My husband & I had a major financial blip when our self employed business went under. We have finally paid back every penny to our creditors, but at the expense of our credit scoring. In the last year all bills have been paid on time and the right amount. Barclaycard are really STINGING us. I just want to see the back of them now.

I now need to transfer my Credit Card balance, but who would accept me ?????????
as I do seem to have a poor credit history, either myself or by association with my husband. I will not be purchasing on the new card.

Please can someone give me some advise on which Credit Card lenders would suit me (Poor credit history) with a 0% balance for as long as possible. Or at lease a lender with a much lower annual rate over a good period.

Would appreciate any advise.

Thank you

Saved today::T
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