Best Balance Transfers Discussion Area

passlady

I rang Halifax to cancel my credit card, as I don't use it anymore. The guy in customer loyalty offered me 6mths 0% on any balance transfers or a low fixed rate (4.94%) on life of Balance transfers. He also reduced my new purchase rate to something like 9.9%.
? is do i take the deal and transfer?

Moggles_2

passlady wrote: »

I rang Halifax to cancel my credit card, as I don't use it anymore. The guy in customer loyalty offered me 6mths 0% on any balance transfers or a low fixed rate (4.94%) on life of Balance transfers. Do I take the deal and transfer?

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

Don't forget to factor in balance transfer fees

brook123lyn

Hello there
I have a nationwide gold card on which i owe no money. I need to put a holiday on credit; should i do it onto nationwide and then tart to a 0% or go straight for a new card itself. can i have more than one credit account open at the same time?
i really appreciate your help. thank you

Moggles_2

brook123lyn wrote: »

I have a Nationwide gold card on which I owe no money. I need to put a holiday on credit; should I do it onto Nationwide and then tart to a 0% or go straight for a new card itself?

Yes, you could transfer the cost of your holiday (with or without any additional spending) from Nationwide to a new 0% balance transfer card.

Note: you would be charged a handling fee (usually 2%-3% of the balance shifted)

Personally, I would line up the new credit card before you pay for your holiday, so as to clear the balance by the payment due date and avoid the risk of interest charges

That said, it may be simpler and more cost effective to apply for a new credit card that offers 0% on purchases for X months.

Can I have more than one credit account open at the same time?

Absolutely. The national average is five, apparently.

bargainhunter90

Ive got two credit cards ones with Barclays and ones with egg.

Im able to clear one of the cards. Im thinking of clearing the barclays one and BTing the egg one into barclays for a lowish interest.

Would egg offer any deals apart from the anniversary offer which is ages off for me?

Cashew

Does anyone know of an 'easy' credit card to get?

I have just applied for a few and was turned down. I am trying to do a balance transfer, would this hinder my application?

Moggles_2

bargainhunter90 wrote: »

I've got two credit cards, one's with Barclay[card] and one's with Egg. I'm able to clear one of the cards. I'm thinking of clearing the Barclay[card] one and transferring the Egg balance onto Barclay[card] for a lowish interest. Would Egg offer any deals apart from the anniversary offer which is ages off for me?

A little unlikely in the present climate, I would have thought, but there's no harm in asking.

Have you considered applying for a new 0% balance transfer card?

Moggles_2

Cashew wrote: »

Does anyone know of an 'easy' credit card to get? I have just applied for a few and was turned down.

Lenders score us differently. There's no such thing as an easy balance transfer credit card. Have you checked your credit reports lately to see what's on there? For help, see page 1 of the *How to obtain credit reports* sticky

I am trying to do a balance transfer. Would this hinder my application?

No, I wouldn't have thought so. There are any number of reasons why a given lender may refuse to extend credit. 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

Barryjohn_3

Hi All
After some advice on balance transfers please!

My partners credit card 0% interest deal has expired and she cant get a new card so has started paying interest.

Is it possible for either:
1) Me to get a new card and transfer the balance from hers to my new 0% one?

or if this is no good

2) Me to get a new card, get a cash advance at 0% rather than a balance transfer and use the cash to pay off her old card?

Any help much appreciated!
Thanks, Barry.

stevsand

Barryjohn wrote: »

Hi All
After some advice on balance transfers please!

My partners credit card 0% interest deal has expired and she cant get a new card so has started paying interest.

Is it possible for either:
1) Me to get a new card and transfer the balance from hers to my new 0% one?

or if this is no good

2) Me to get a new card, get a cash advance at 0% rather than a balance transfer and use the cash to pay off her old card?

Any help much appreciated!
Thanks, Barry.

yes and yes:cool: