Best Balance Transfers Discussion Area

Lucyxx

Moggles wrote: »

Caution: this is a profit-driven service that lists some, but not all credit cards, due to its commercial relationships. Don't forget they're on lead commission. It's very much in their interest to persuade users to apply for particular cards.:rolleyes:

I saw them both on here somewhere on Martins best deals page which I am inclined to trust more. I just used moneysupermarket to use the service to see whether it's likely or not you'll get the card, and then the customer reviews. I'll make him apply directly through Tesco, as I'm not a fan of those comparison site things really! That's the difference between me and OH, he'd just go with whatever they said, but I like to think I am more savvy about those kinds of things, seeing through marketing, well not marketing, can't think of the word I'm looking for... if that makes sense?? That's why I am going to the bank with him in March as he'll sign up to whatever they recommend thinking they are trying to help him, when I know all they want to do is line their own pockets!

The fact you pointed out both the exact two cards I had decided between gives me confidence that I was looking for the right things. Especially as I am doing this on his behalf, don't want to get it wrong!

Thanks again :beer:

AndrewRH

A story....

Edit: just moved this to this more appropriate forum thread (as others also experiencing issues with AbbeyZero credit card applications/approvals/rejections/mistakes/etc!)

~Andrew~

Moggles_2

AndrewRH wrote: »

Just moved this to this more appropriate forum thread (as others also experiencing issues with AbbeyZero credit card applications/approvals/rejections/mistakes/etc!)

Yes. In case anyone else is considering Abbey, the following are fairly typical of posts to this board, unfortunately. If you use the search facility, I'm sure you'll turn up some others :rolleyes:

http://forums.moneysavingexpert.com/showthread.html?t=1434971&highlight=Abbey+zero

http://forums.moneysavingexpert.com/showthread.html?t=1393005&highlight=Abbey+zero

http://forums.moneysavingexpert.com/showthread.html?t=1512725

Violetta_2

I'd be grateful for some advice, basically we need a new car (new to us not brand new) I have a Nationwide CC (clear this each month) with a £6500 limit I was thinking as we don't have enough savings would it be a good idea to buy the car on my card and get a 0% balance transfer cc swap over the balance and pay it off before the 0% run's out, I think we would need to borrow £3000 at the most.
Is the Virgin card the best 1 to go for? Are they likely to let me transfer the full £3000. My other half has just started a new job so is he unlikely to be able to get a cc?
Any opinions or is it just a crazy idea?

Tammer

Hi Violleta,

I think the key thing to ask you and your partner is -

"Do we really need a car?"

If you can do without it, then why bother putting yourself in debt? If you really need it, why not simply buy one for, say, £1000?

I got rid of my car 2 years ago and rarely miss it.

Just a suggestion - ignore me if I'm out of line.
Tammer

Violetta_2

That's ok Tammer, sadly we do need it, we work on opposite sides of the city and our dd is at nursery in the middle near our house. Public transport would not be a possibilty I would'nt be able to get from my work to the nursery in time to pick up the wee one. Is it worth getting a car for a £1000? we were planning on saving up and getting a car in May when this ones MOT run's out but unfortunately it looks like it's about to give up the ghost.

minnie123

Hi,
I would like to apply for a Virgin card to get the 0% deal. I have 9k on a lloyds platinum card the 0% rate is ending soon so want to transfer as much as I can.

The only thing is I have an MBNA Platinum card - there is no outstanding balance owed on the card in fact it's in £10 credit for some strange reason.

I didn't know if Virgin would give me a card because someone said they are part of MBNA.

The limit on my MBNA card is about 8k but they haven't offered any deals on balance transfers for ages (which is what I was hoping for).

Any advice on whether to apply for the Virgin - or if not which one to apply for that gives good limits.

Or should I just get a loan and be done with it

carlamagee

hi guys....am new to this part of the forum.
basically,i need someone to point me in the right direction....im not very money-savvy at all and my problem is that my bf got made redundant, i have a tesco cc that is maxed (2250), repayments are 65.00 and that includdes interest of £25.
now because i am not money-savvy, it is telling me that the interest on purcahses is 1.313% and cash is 1.873% and i am paying money on both these. my qyetsion is that, would it be any more beneficial to me to transfer the balance from this account to one that is 0% interest and if so, which ones are best!???
im so lost in all this really, cant sleep this morning, worrying abut this has made me wake about 2 hours ealier than normal, need major help with finances as really feeling the strings pull now partner has been made redundant. any help/advice/opinions are greatly recieved and very much appreciated!!!

Moggles_2

Violetta wrote: »

Basically, we need a new car (new to us not brand new) I have a Nationwide CC (clear this each month) with a £6500 limit. I was thinking as we don't have enough savings would it be a good idea to buy the car on my card and get a 0% balance transfer cc swap over the balance and pay it off before the 0% run's out. I think we would need to borrow £3000 at the most.

Some garages/dealers won't accept credit cards or they charge a premium for their use. Then you would pay a BT fee on top to transfer your borrowings to a balance transfer card. So, if you decide to use a credit card, it may be better to forget Nationwide and apply for a credit card issued by MBNA (e.g. Alliance & Leicester, MBNA itself, Sony, Virgin) or Egg card. Both lenders allow you to route credit card money into a bank account. From there you could pay for your car.

Is the Virgin card the best one to go for? Are they likely to let me transfer the full £3000?

To maximise the 0% period, 16 months is currently available to new customers from Virgin. There's a 2.98% handling charge.

http://uk.virginmoney.com/credit-card-v3/

On receipt of your new card, you can request the transfer of funds to your current account. It's best to do this when you call to activate the card. (There's a dedicated, Freefone number).

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

Moggles_2

minnie123 wrote: »

I would like to apply for a Virgin card to get the 0% deal. I have 9k on a LloydsTsb platinum card. The 0% rate is ending soon, so want to transfer as much as I can. The only thing is I have an MBNA Platinum card. There is no outstanding balance owed on the card, in fact it's in £10 credit for some strange reason. I didn't know if Virgin would give me a card because someone said they are part of MBNA.

That's right. Virgin cards are underwritten by MBNA. This lender doesn't seem to mind customers holding more than one card though. I have held three at once.

If there were a balance on your current MBNA card, particularly if still charged at 0%, you could certainly be turned down or handed a lowish credit limit by Virgin, but with a zero balance, this provider will sometimes switch your credit limit from the unused card to give you a higher limit on the new, active one.

The limit on my MBNA card is about 8k but they haven't offered any deals on balance transfers for ages (which is what I was hoping for).

That's probably because you are £10 in credit. Why not use this card for £10 worth of shopping? MBNA has a reputation for regular, follow-on offers, once your balance is zero. The bank will even waive BT fees sometimes, if you're prepared to negotiate over the phone. I've had offers as good or better than the introductory deals now and again.