Best Balance Transfers Discussion Area

Moggles_2

missemma85 wrote: »

I'm on about £4200 worth of debt and I'm looking to apply for a credit card to transfer all my existing debts. So far I have applied for 9 cards and keep being declined ... Can anyone advise on what to do? I'm 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.

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.

To help you further, we need to know which cards you have at the mo. Also, to which lenders you've applied unsuccessfully.

Moggles_2

girl_in_need wrote: »

I want to [change from] Barclaycard to another credit card. Will I get turn[ed] away if I change my card? If so, are there any credit card companies that will say yes, even if I have bad credit?

'Depends what you mean by "bad credit"

Lenders launch these market-leading, balance transfer cards, which are sometimes heavily advertised, to draw in new customers. Often they are flooded with applications and can afford to cherry-pick applicants.

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

code-a-holic

Moggles wrote: »

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


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.

Thank you for that, I think i will be keeping the MBNA open for now.
Mint allowed a transfer from my natwest CC - £1600. maybe i was just lucky or they are being a bit relaxed at the moment.

Moggles_2

code-a-holic wrote: »

Mint allowed a transfer from my natwest CC - £1600. Maybe i was just lucky or they are being a bit relaxed at the moment.

Thanks for your feedback.

I can't help thinking something's been lost in translation, unfortunately. Mint and NatWest are both underwritten by RBS, so transferring a balance from one to t'other is virtually unheard of. It would be like paying them with their own money. If I were you, I'd keep a careful record of the date, time and member(s) of staff involved.

You can monitor the transaction online but, for peace of mind, I'd call back (if possible during normal business hours). If you ring Mint Customer Services on 01702 351155, you'll avoid the dreaded 0870/0845 numbers

Very best
M

code-a-holic

Thank you for that - im keeping a very close eye on it. online the available balance on mint has reduced reflecting both transfers i put on it but no detail as yet.

Moggles_2

code-a-holic wrote: »

I'm keeping a very close eye on it. Online the available balance on Mint has reduced reflecting both transfers i put on it, but no detail as yet.

So far, so good.
Please keep us posted.

Very best
M

missemma_2

In response to my othe rmessage, Ive got about 730 on a Barclaycard, 1300 on a Silver Mastercard, just over 1000 on a Lloyds TSB Mastercard and my Mint card has about 1200 on it. I want to really put all of these onto one card. Ive applied to Egg, Virgin, Nationwide, Halifax, Post Office, and a few more but cannot remember them off hand!! I was going to apply for an MBNA card as they have a low interest rate, but I think they are operated by the same people as Virgin, and would only say no. Does anyone know of a card that would definitely accept me?? Or any loans that will allow me to be fairly flexible with my repayments?? x

Moggles_2

missemma wrote: »

In response to my other message, I've got about £730 on a Barclaycard, £1300 on a Silver Mastercard, just over £1000 on a Lloyds TSB Mastercard and my Mint card has about £1200 on it. I want to put all of these onto one card. I've applied to Egg, Virgin, Nationwide, Halifax, Post Office and a few more, but cannot remember them off hand.

Well, you need to check. There's no point in applying to the same lender again, as I think you realise.

I was going to apply for an MBNA card as they have a low interest rate, but I think they are operated by the same people as Virgin and would only say no.

That's right. There's no point in applying to MBNA, if Virgin have turned you down.

Does anyone know of a card that would definitely accept me?

Sorry, there's no such thing as a credit card that would definitely accept you. You need to do some homework

As above, 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.

tiffspits

Does anybody know if it is possible to get a 0% balance transfer credit card with a bad credit rating?

tiffspits

Is there a limit on how many high interest credit cards one person should have?