Best Balance Transfers Discussion Area

scott_lithgows

aliduc wrote: »

Got a letter in the post yesterday with 4 cheques attached offering 3.94% until the balance is cleared on any new balance transfers or anything else as i have the cheques. 3% fee on balance trnsfers but still a good offer i think.
Anyone else had this?

No,not yet.I usually get offered 5.94% lob deals with them,no bt fee,I wonder if the 3% fee would be repaid first month though or would it sit on the standard interest rate till everything else is paid off.

Moggles_2

scott_lithgows wrote: »

I wonder if the 3% fee would be repaid first month though or would it sit on the standard interest rate till everything else is paid off.

I believe the minimum monthly payment is 1% of the balance shifted, so the 3% handling charge would not be repaid in the first month.

That said, Halifax has never charged interest on BT fees

rokel

MBNA. thanks for advice Moggles. Recorded message says - 'due the the unprecedented demand etc, etc.,' so will wait a while longer.

Moggles_2

rokel wrote: »

MBNA. Thanks for advice Moggles. Recorded message says - 'due the the unprecedented demand etc, etc.,' so will wait a while longer.

Fingers crossed, you're accepted

Very best
M

karen_thomas_2

would value anyones advice.
Got caught last year withMBNS interest rate hike to 34%.its crippling me.But my experian report shows poor credit rating because of a series of late payments to a cc company caused by a problem with internet banking transfers.
If I apply for an zero or low percent card i will likely be refused

any advice
its a big balance 11k

karen

Moggles_2

karen_thomas wrote: »

Got caught last year with MBNA interest rate hike to 34%. It's crippling me, but my Experian report shows poor credit rating because of a series of late payments to a cc company caused by a problem with internet banking transfers. If I apply for a zero or low percent card, will it likely be refused?

Well, yes. That said, there's no harm in trying.

Which card is best depends, to some extent, on which cards - besides MBNA - you have at the mo.

Alternatively, you may be able to reduce your costs using credit cards you already hold. For details, see Martin's *Credit Card Shuffle*article.

http://www.moneysavingexpert.com/car...-card-interest

peakoilisnow

Been balance transferring around for 0% cards for several years now. I've got a good credit track record. Last year I missed one payment . Of course now I've been through most of the 0% offers. I try to cut up and send back "used up" BT cards, though inevitably some cards just get left in a drawer.

As my tart alert tells me my current 0%s are coming to an end I clicked on the cards on the BT page of the main site and applied to each of them. Got turned down by all of them, even the post office (which I've never applied to before).

Any ideas?

Moggles_2

peakoilisnow wrote: »

Been balance transferring around for 0% cards for several years now. I've got a good credit track record. Last year I missed one payment.

There's a difference between late payments and missed payments. Fortunately, it sounds as though yours was the former. Missed payments can wreck your credit rating for years, but a late payment or two will not affect your credit scores for very long. It's your payment history with all your creditors over the last 6 years that counts, with particular emphasis on the most recent 12 months.

Of course now I've been through most of the 0% offers. I try to cut up and send back "used up" BT cards, though inevitably some cards just get left in a drawer.

Why inevitably? A phonecall to customer services is normally all that's required to cancel a credit card. Most lenders do not ask you to return their cards. You're simply requested to cut them up..

As my tart alert tells me my current 0%s are coming to an end, I clicked on the cards on the BT page of the main site and applied to each of them. Got turned down by all of them, even the Post Office (which I've never applied to before)

Which credit cards do you have at the mo and which cards have you applied for unsuccessfully?

MothballsWallet

With regards to the Abbey 15-month offer, I'd recommend going into a branch with your ID to apply for it - if you apply on their website, they send you the forms to sign and you still have to go to a branch with your ID.

This is what I did last Saturday, and got accepted.

Moggles_2

MothballsWallet wrote: »

With regards to the Abbey 15-month offer, I'd recommend going into a branch with your ID to apply for it. If you apply on their website, they send you the forms to sign and you still have to go to a branch with your ID. This is what I did last Saturday and got accepted.

Yes, from feedback here, you would be best advised to apply in branch. Online applications are often subject to long delays, apparently.