Best Balance Transfers Discussion Area

Moggles_2

PJB wrote: »

Will i still be likely to get either of these with the cards i have? I have not applied for Virgin, as i thought A&L were MBNA, although i'm not sure.

Now you come to mention it, I'm sure you're right. (I was working on the principle that A&L was now Santander, but of course the cc is still operated by MBNA As there's a substantial balance on your A&L card at the mo, better look elsewhere

Do you bank with NatWest or the Royal Bank of Scotland? A 0% for 15 months BT card is available to existing bank account customers at the mo. (HSBC has a similar deal for current account holders, but customer service is not so good, IME)

If you're not eligible for the above, the Halifax Plus card is a straight forward, no-strings deal, which is not linked to your other cards

darthpaul

I am looking for the best non Barclaycard life of balance card. Martins article only mentions 3 cards which are all Barclaycard and I have one! I also have an Egg card, Lloyds TSB platinum and IF card.

Any ideas?

dirtyepic

Hi all!

I haven't posted on the message boards for quite a while but still been looking for great advice.

I have a bit of a credit card query and hope that someone can point me in the right direction or dispel my fears!

A couple of months ago I wanted to transfer the balance of my cards onto a 0% (it's taken a while but I thought I was doing the right thing!) I applied for an MBNA card and put all of the transfers on the application. Stupidly, I included my Virgin credit card. I wasn't aware at the time that this was an MBNA card. Doh!!

I had to call them to discuss my application and they told me it had been declined due to this discrepancy. I offered to remove this amount from the application but they still refused.

They also said that this would not affect any credit scoring (or whatever it is called!) which I find hard to believe.

Since then I have stuck my head in the proverbial sand and kept putting it off. I am worried about what to do next. I have made stupid mistakes and this could effect my future applications.

Previously I have used the 'free credit report' facilities with either Experian or Equifax or even both over the past few years. I obviously want to check again but will I be able to apply for a free check again?

I really need to get back on track and I think once I sort the credit cards out I can use my ebay sales to pay the debt and not the interest!

Any of your advice will be taken on board, gratefully!

Cheers everyone

T

YorkshireBoy

darthpaul wrote: »

I am looking for the best non Barclaycard life of balance card. Martins article only mentions 3 cards which are all Barclaycard and I have one! I also have an Egg card, Lloyds TSB platinum and IF card.

Any ideas?

Unless you have a First Direct current account(?), that only really leaves Capital One @ 6.9% APR (not really LOB as it's only 27 months, and for which you'll need an excellent credit rating - as defined by them on their site) and the RBS/NatWest cards @ 8.9% APR (but with some 'perks').

http://www.stoozing.com/lob.php

YorkshireBoy

dirtyepic wrote: »

Stupidly, I included my Virgin credit card. I wasn't aware at the time that this was an MBNA card. Doh!!

I had to call them to discuss my application and they told me it had been declined due to this discrepancy. I offered to remove this amount from the application but they still refused.

The application was probably declined due to you having existing MBNA debt...not because you asked to transfer it within their company, ie robbing Peter to pay Paul.

They also said that this would not affect any credit scoring (or whatever it is called!) which I find hard to believe.

Maybe they declined you on the 'policy rule' above, and so didn't have to externally search your CRA file?

Previously I have used the 'free credit report' facilities with either Experian or Equifax or even both over the past few years. I obviously want to check again but will I be able to apply for a free check again?

No, just get your £2 statutory copies by post.

Moggles_2

dirtyepic wrote: »

I applied for an MBNA card and put all of the transfers on the application. Stupidly, I included my Virgin credit card. I wasn't aware at the time that this was an MBNA card. They told me it had been declined due to this discrepancy.They also said that this would not affect any credit scoring which I find hard to believe.

Lenders' procedures vary, but credit checks cost, so if there's something on application that rules you out (eg. requesting the transfer of a debt from an existing card with the same lender), your credit files won't be searched.

To help you further, we would need to know which credit cards - besides Virgin - you have at the mo or have held recently.

dirtyepic

Hi

I also have a barclaycard and egg card

I have had a quick look on the best cards section and it appears Abbey may be the best for me.

After tons of problems with logging in I have also requested my experian free report, just awaiting and checking my email inbox at every opportunity.

T

Moggles_2

dirtyepic wrote: »

I also have a Barclaycard and Egg card. I have had a quick look on the best cards section and it appears Abbey may be the best for me.

We've repeatedly warned of Santander/Abbey's dire customer service on this thread, but it can't be stressed too often.

If you decide to chance your arm, it's best to apply in branch. Online and postal applications are still subject to long delays, apparently. From feedback here, there's a 4 week backlog of applications for the Santander Zero card :rolleyes:

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

InaPickle

Hey guys,

I'm currently studying part-time and working part-time. I have an credit card with a very high APR (21.98%) and need to pay it off. I would love to get my hands on one of the 0% transfer deals, but reckon my chances of transfering are pretty low cos I don't work full-time (but I will be in a couple of months). I'm just wishful thinking, aren't I, and I'll have to wait until I'm working full time? :rolleyes:

Moggles_2

InaPickle wrote: »

I'm currently studying part-time and working part-time. I have a credit card with a very high APR (21.98%) and need to pay it off. I would love to get my hands on one of the 0% transfer deals, but reckon my chances of transferring are pretty low cos I don't work full-time (but I will be in a couple of months). I'm just wishful thinking, aren't I? I'll have to wait until I'm working full time?

To apply for 0% balance transfer cards, you need an annual income of at least £8000. Just so you know.

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, to make certain there's nothing else besides a lowish income working against you

Admittedly, the best BT deals are usually reserved for new customers, but you don't have to apply for a new card to get new credit. You may be able to cut costs using the credit card(s) you already hold. For details, see Martin's *Credit Card Shuffle* article

http://www.moneysavingexpert.com/cards/cut-credit-card-interest