Best Balance Transfers Discussion Area

nicky_h_4

Hi there i am also new to this site.
I have a B&Q store card which i have just tried to transfer the balance on to my halifax credit card for the 0% interest benefit on it. However, halifax said they don't do balance transfers for B&Q store cards!! Is there any credit card company that will? The 0% on the B&Q runs out at the end of the month so im anxious to transfer the £2,500 balance on it asap!!! ANY HELP with this would be greatly appriciated!!! x

Charski

Charski wrote: »

Hi, thanks for your response
The cards are with Amazon and Tesco.
The Leeds card offered 0% on balance transfers for the life of the card, and this appealed to us as it meant that our monthly repayments would go down A LOT and make it easier for us to clear the loans quicker - we have spoken to the loan companies and they are allowing us to pay our normal loan amounts plus any extra we want on top of that each month - so we thought it would make sense to get the credit cards into one, where we pay less interest then pay off as much of the loans as we can.

Hey guys, I received the Leeds card (YAY!) but the credit limit wa only £850 (BOO!) so could not transfer the balances and had to cancel the card, because it was of no real use to us.
Before we did that we did request that they looked at it so that we could transfer the balances and because we had no lending with Barclays they could not do this.
Back to square one unfortunately!

Moggles_2

nicky_h wrote: »

I have a B&Q store card which i have just tried to transfer the balance on to my Halifax credit card for the 0% interest. However, Halifax said they don't do balance transfers for B&Q store cards. Is there any credit card company that will? The 0% on the B&Q runs out at the end of the month so I'm anxious to transfer the £2,500 balance on it asap. ANY HELP with this would be greatly appriciated.

You can shift a credit card balance to another credit card. Transferring a store card balance to a credit card is not so straightforward. Store cards ARE credit cards and they are usually operated by credit card companies on behalf of the retailer (with the stores being given back a % of the profits), but their account numbers are formatted differently from credit cards. I suspect that's the problem. There's a way round it, but you need the right 0% BT card.

To help you further, we need to know which cards you have at the mo or have held recently.

Moggles_2

Charski wrote: »

I received the Leeds card, but the credit limit was only £850, so could not transfer the balances and had to cancel the card, because it was of no real use to us. Before we did that, we did request that they looked at it, so that we could transfer the balances and because we had no lending with Barclays they could not do this. Back to square one unfortunately.

None of us knows in advance the limit we'll be handed. The only way to find out for certain is to apply.

If the worst happens, Martin's advice is to transfer what you can. (See Martin's *Credit Card Limit: didn't get what you wanted?* article.) You'll still save money.

http://www.moneysavingexpert.com/cards/bad-credit-rating

Kilmaley01

Hi guys, can anyone advise...

We have a Virgin Credit card with almost £7k on it!! The free balance transfer when we moved to Virgin runs out in August. We are currently not in a position to pay it off but know in approx 8 months time that we will be able to clear this balance completely. What is the best option out there at the moment to transfer this onto? Realise it's a lot of money but it's in my husbands name and he has an excellent credit rating and always has had. Just not in a position just yet to clear this debt - need to bide a bit more time.

Any tips/advice greatly appreciated.

Cheers

CannyJock

Full list of current 0% offers on stoozing site (supported by MSE) http://www.stoozing.com/0fees.php

Moggles_2

gromit2303 wrote: »

We have a Virgin Credit card with almost £7k on it. The free balance transfer when we moved to Virgin runs out in August. We are currently not in a position to pay it off, but know in approx 8 months time that we will be able to clear this balance completely. What is the best option to transfer this onto? Realise it's a lot of money but it's in my husband's name and he has an excellent credit rating ...

Which deal is best depends, to some extent, on which cards - besides Virgin - he has at the mo or has held recently.

susie13_1999

i had to wait 2 months for the credit card to finally appear in the post. i applied for the card because of the balance transfer deal. i havent got enough credit now to do a balance transfer which has defeated the purpose of the card to tidy up my finances. i wish they had informed me considering i waited 2 months for the card. NOT impressed

Moggles_2

susie13_1999 wrote: »

I had to wait 2 months for the [Abbey] credit card to finally appear in the post. I applied for the card because of the balance transfer deal. I haven't got enough credit now to do a balance transfer which has defeated the purpose of the card to tidy up my finances. I wish they had informed me considering I waited 2 months for the card. NOT impressed

Thanks for your feedback, which alerts others.
We've repeatedly warned of Abbey's dire customer service, but it cannot be stressed too often.

If you decide to chance your arm, it's best to apply in branch. Online applications are still subject to long delays, it seems :rolleyes:

scott_lithgows

Moggles wrote: »

There's a difference between late payments and missed payments.

If the former, these are viewed as negative only if you attract more than a couple in a short space of time. Even then, the effect is fairly short-lived. The records drop off your file after 36 months.

OTOH, if these payments were missed altogether, this would certainly explain your inability to get credit now. 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. Only the passing of time would help.

I,ve managed to get a couple of late payments this month from Tesco and NatWest but both have been removed after 1 day/after 10 days because the companies have made a mess of my current account move away from B+B(sh)abbey.How long till my record is corrected?

It,s a real eye opener moving bank accounts-it really shows up what companies dont have a clue.

Tesco set up the Direct debit to come out account 2 days too late.(I can forgive a slight mistake)

NatWest accepted a 3rd party changing it (abbey) from my old B+B account to my never used abbey account even after I had phoned them and gave them my new YBS account details.I was assured that it was coming out YBS account-it didnt.

HSBC did the same,no balance so no problems but they told me on no account would they ever accept a 3rd party instruction,when I asked for what details they had on file about me-they came out with a sortcode which started 09(abbey).When asked where they got that from,a load of excuses started.(I should have closed the account there and then-dunno why I never)

Citicard dont have a clue but at least told me to pay by debit card,last payment this month-so goodbye.

Anyway obviously looking to ditch these clowns,so will need to lose these late payment markers.

ps Gas/Electricity company made a mess as well,quickly fixed when switching supplier came into conversation!