Best Balance Transfers Discussion Area

filmguy08

Hello. New to this wonderful site and just need to ask what may be a silly question. Do the great 0% cards listed apply to everyone regardless of what country you live. I am in the US and see this site is from the UK. Does it make any difference. Thanks in advance.

NickX

filmguy08 wrote: »

Hello. New to this wonderful site and just need to ask what may be a silly question. Do the great 0% cards listed apply to everyone regardless of what country you live. I am in the US and see this site is from the UK. Does it make any difference. Thanks in advance.

Welcome to the site, but I'm afraid the cards under discussion here are only available in the UK. I think you will need to find a US based money saving expert, sorry.

janh_2

NickX wrote: »

I would double check this if I were you - the relaunched Santander Zero card does actually attract a 3% Balance Transfer fee.

I've just had the letter offering the Zero card with zero fees too - it states 0% on balance transfer fees (plus 0% interest for 12 months & no foreign exchange fees for purchases abroad) & that "this offer is not available anywhere else, not even in your Alliance & Leicester branch. So use the form attached before 30 September 2009" so it appears to be a special for existing A&L customers only (& possibly there is an equivalent letter for Abbey customers?)

NickX

janh wrote: »

I've just had the letter offering the Zero card with zero fees too - it states 0% on balance transfer fees (plus 0% interest for 12 months & no foreign exchange fees for purchases abroad) & that "this offer is not available anywhere else, not even in your Alliance & Leicester branch. So use the form attached before 30 September 2009" so it appears to be a special for existing A&L customers only (& possibly there is an equivalent letter for Abbey customers?)

Absolutely, since I first posted to watch for the 3% fee, several people have mentioned that they have an existing offer to take up a new Santander Zero card and enjoy 12 months Balance Transfer with a 0% fee.

I believe Abbey customers were offered a no fee deal a couple of years ago when Santander first took them over.

In the current climate 12 months at 0% with NO FEE is an excellent deal, so congratulations to all those who receive this offer :beer:

annis

Hello,

Just thought I'd share a tip when taking out 0% balance transfer amounts on the Virgin CC. If like me you have been a Virgin CC customer for many years and decide to take up one of their promotional 0% Blance Transfer Offers, make sure that your standard monthly repayment terms are set to "minimum amount" and transfer any additional monthly payments over manually. Apparently, this is what they expect their customers to know. Unfortunately, I took out a large sum in view of investing it, only to find that it had been taken back in full the following direct debit payment date thus incurring charges of £30 to repay MBNA, £28 NatWest unauthorised OD fee and £23 interest. Add the initial £35 admin fee to this and it is an expensive mistake. I am currently querying the process with MBNA, but thought I'd warn others in the meantime.

Lenovo_2

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fabbman

Hi.....

As there now appears to be fees on bal txfers, how do you make any money from stoozing? I guess you are building a balance on purchases?? Typically the banks/isas are paying less than the 2.75-3.00% bal txfer fee!

annis

Hi Fabbman,

I had a fixed interest rate at 4% on a savings account taken out before the crash. That made the £35 deal a great offer.

The current promotional offers do make it difficult to make any money and are best used to reduce debt on other cards or in lieu of expensive loans I guess.

Moggles_2

annis wrote: »

I had a fixed interest rate at 4% on a savings account taken out before the crash. That made the £35 deal a great offer.
The current promotional offers do make it difficult to make any money and are best used to reduce debt on other cards or in lieu of expensive loans I guess.

I think that's right, unless you have an offset mortgage or fixed-rate savings accounts taken out before interest rates dived.

If you're intent on making a few quid using credit cards, the 0% on purchases deals are probably the way to go

Northstar24

I would like to pay off my son's credit card debt. In order to do this over a period of time, I wondered if I can get a new 0% credit card and balance transfer his credit card debt to it.

Is it possible to balance transfer from another persons credit card?