Best Balance Transfers Discussion Area

Moggles_2

stephnkey2411 wrote: »

I have an M&S credit card with approx £1000 on it. Its 10 month deal is coming to an end in August and i want to switch it. When, and can anyone recommend a good 0% card, as need to pay it off with in a year ideally?

Which option is best depends, to some extent, on which credit card(s) - aside from M&S - you have at the mo or have held recently.

Moggles_2

Tarce wrote: »

I got my card and credit limit through. Unfortunately it's only for £5000. I'm going to have to apply for another card now, yes? Would the Abbey be the one to go for?

I've no recent experience of Abbey but, from feedback here, customer service is dire. :rolleyes:
If you use the search facility, I'm sure you'll find loads of adverse reports, but it's your choice.

Alternatively, 13 months at 0% is currently available to new customers from Halifax on balance transfers made in the first 90 days. There's a 3% BT fee.
Minimum monthly payment is just 1% of the balance shifted

http://www.halifax.co.uk/creditcards/pluscard136.asp

Tarce

I've got a card with BoS at the moment (which i am looking to close) - so is halifax not the same company really?

Moggles_2

Tarce wrote: »

I've got a card with BoS at the moment (which i am looking to close) so is Halifax not the same company really?

Yes, both belong to the same stable, HBOS.

HBOS doesn't seem to mind customers holding more than one of its cards, as long as you don't apply for two identical ones. For instance, if you held BoS All in One, I wouldn't go for Halifax All in One. OTOH, I applied successfully for Halifax Plus, whilst keeping a BoS charity card in my deck.

Obviously, you cannot transfer balances between Halifax and BoS cards, as both are underwritten by HBOS.

Also, there's the possibility that you may be handed a lower credit limit on the new card to compensate for the credit available on the existing account, so it may make sense to close that one down first.

Alternatively, 0% until 1 July 2010 is currently available to new customers from Egg. There's a 3% BT fee.

http://new.egg.com/visitor/0,,3_84106--View_1763,00.html

code-a-holic

I have just rang Mint to ask if they could do me a balance transfer from another 2 cards. 0%for 6 months and no fee. lovely! Thats now £4k(£4750 limit) on the Mint and i was going to close down my other 2 cards. Natwest(£2200) and MBNA (£5000). Would i be better closing them both or keeping one and buying £20 if fuel and paying off each month in the hope i get a good transfer rate in 6 mths.
Just writing it down makes me think thats a good plan!

Moggles_2

code-a-holic wrote: »

I have just rung Mint to ask if they could do me a balance transfer from another 2 cards. 0% for 6 months and no fee. Lovely!

Congratulations on negotiating 0% for 6 months on BTs with no fee.
I managed to pull that one off myself recently with Mint.
:beer:

That's now £4k(£4750 limit) on the Mint and i was going to close down my other 2 cards. Natwest(£2200) and MBNA (£5000). Would i be better closing them both or keeping one and buying £20 if fuel and paying off each month in the hope i get a good transfer rate in 6 mths.

MBNA is one of just three lenders that allow you to route money through your bank account at balance transfer rates. With it's market-leading, follow-on offers, this card is worth keeping in your deck, IMO

Like Mint, 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

OTOH, you cannot transfer balances between Mint and NatWest, as both cards are underwritten by Royal Bank of Scotland, so you may want to consider closing the NatWest card. It's your choice really.

gugitsa

Leeds BS , 5.9%, plus 2% fee.
Top if repaying will take over five years.
Quick Stats. Promo Rate: 5.9% life of balance Fee? 2% Standard Rate? 17.9% APR Required Income: N/A Any Restrictions? Must transfer balance in 60 days of getting the card.


Just spoke to one of their reps and I was told that I need to earn £20000+ to be accepted.

Moggles_2

gugitsa wrote: »

Leeds BS, 5.9%, plus 2% fee. Top if repaying will take over five years.Quick Stats. Promo Rate: 5.9% life of balance Fee? 2% Standard Rate?17.9% APR Required Income:N/AAny Restrictions? Must transfer balance in 60 days of getting the card. Just spoke to one of their reps and I was told that I need to earn £20,000+ to be accepted.

There's no perfect solution that suits everyone. Have you estimated how long it will take to clear your debt in full?

Why not plug some numbers into this credit card calculator?

http://www.whatsthecost.com/creditcard.aspx

You can then estimate the time it would take to clear the balance using cards charged at different interest rates. You can also see the effect of increasing your payments by a few pounds

missemma85_2

Hi all,

Was wondering if someone could help me! Im ion about 4200 worth of debt and Im looking to apply for a credit card to transfer al my existing debts onto. So far I have applied for 9 cards and keep being declined. I darent take on a loan as my job is only temporary until December, and if I dont find employment again I wont be able to manage loan repayments.

Can anyone advise on what to do?? Im really committed to making a go of paying these bills off and now that I have the motivation to do it, I seem to be coming up against brick walls everywhere I turn!!!

girl_in_need

hi guys

I want to barclaycard to another credit card , will I get turn away if I change my card ? , if so , are there any credit cards comanys that will say yes , even if I have bad credit