Best Balance Transfers Discussion Area

Moggles_2

wendydrury wrote: »

In addition to those mentioned, currently I have cards with M&S, Nationwide. I also have current account and mortgage with them and I also cancelled a Barclaycard within the last 12months. I went into Abbey to see if I could get the Santander card, but their system was down in our local branch.

Have you considered the Post Office card? 12 months at 0% is currently available to new customers on balance transfers made in the first 3 months. There's a 2.98% BT fee.
Also, 5 months at 0% on new BTs requested in the month of your 1st and 2nd anniversary

http://www.postoffice.co.uk/portal/po/jump2?catId=19400177&mediaId=34100665

Librarylottie

No I hadn't looked into this one. Thanks for the suggestion - I shall pop into the Post Office at lunch time today.

Moggles_2

wendydrury wrote: »

I shall pop into the Post Office at lunch time today.

Also, the Post Office gives instant decisions and credit limits to online and telephone applicants, provided that your ID, available credit etc can be verified electronically via the credit reference agencies

Very best
M

Beck5

I currently have a really good deal with my credit card but it runs out in September. It is 0% interest but also I only have to pay back 1% of the balance per month. I really need to find another one with the same deal to keep up the payments at the moment, I would really appreciate it if anyone could point me in the right direction!
Thankyou.

SomeGeezer

Moggles, thanks for the advice. I applied for the Halifax Plus Card and was accepted.

A further question if I may:

On the credit card agreement it states "The total charge for credit is £153.02 which consists of interest. This is based on credit of £1500 being borrowed at the start of the agreement over one year at the standard interest rate"

Now this confuses me because on all the paperwork they sent it makes no mention of the 6.1k balance transfer details which I had to complete when filling out the initial paperwork. Am I right in thinking they have just agreed to give me a card with a £1500 credit?

I have tried calling them but I got bored of holding!

Moggles_2

Beck5 wrote: »

I currently have a really good deal with my credit card but it runs out in September. It is 0% interest but also I only have to pay back 1% of the balance per month. I really need to find another one with the same deal to keep up the payments at the moment, I would really appreciate it if anyone could point me in the right direction.

Is that a Halifax or Bank of Scotland credit card by any chance?
To help you, we need to know which card(s) you have at the mo or have held recently.

Moggles_2

SomeGeezer wrote: »

I applied for the Halifax Plus Card and was accepted.

Congratulations on getting accepted by Halifax.
:beer:

A further question if I may: on the credit card agreement it states "The total charge for credit is £153.02 which consists of interest. This is based on credit of £1500 being borrowed at the start of the agreement over one year at the standard interest rate" Now this confuses me because on all the paperwork they sent it makes no mention of the 6.1k balance transfer details which I had to complete when filling out the initial paperwork. Am I right in thinking they have just agreed to give me a card with a £1500 credit?

No, these are hypothetical figures intended to illustrate the likely interest charges, if you were to borrow £1500 for a year at your standard rate. They bear no relation to your credit limit.

Note for future reference: with Halifax and most other providers, you either complete the BT request section (if there is one) during the application process or wait until the card arrives and request your BT(s) when you call to activate. (There's usually a dedicated, Freefone number for this)

IMO, it's safer to wait until receipt of the card and credit limit before requesting BTs. That way you keep your options open, avoid unwanted partial transfers, paying the same card twice etc and retain some control over what happens when. BTs are not easy to reverse (should you get a better offer elsewhere) and, in attempting this, you could incur two BT fees.

SomeGeezer

No, thank you, Moggles. Without the help I would have spent an age trawling the internet looking for the best possible deal for me.

I'm just glad that finally, lenders are starting to look at me again after 10 years of being in the wilderness. This time last year Vodafone declined me for a £25 monthly contract.

Hope you are right about the BT. I have this nagging doubt that when I call to activate the 6.1k transfer they will be like "Are you *sniggers* kidding!? We were only joking last week"

I'm sure it will be fine.

Do the existing lenders look at your account differently once they've seen you've transfered away? For instance, up your % rate or stop your ability to withdraw cash etc etc?

Librarylottie

Thank you for this suggestion. I have just applied online but it came back saying they couldn't agree online but will write within 5 days? Just hope this doesn't mean I wont be accepted. They asked for my personal income rather than household and as I only work part time it's not as much as the whole! I gave the details of our joint account and wonder now if this may be the cause of delay? Hey ho - I'm off out now with some friends for a mongolian stir fry - so will check back later.

Moggles_2

SomeGeezer wrote: »

Do the existing lenders look at your account differently once they've seen you've transferred away? For instance, up your % rate or stop your ability to withdraw cash etc?

I doubt whether lenders can distinguish BACS payments made by other card companies from those of their customers