Best Balance Transfers Discussion Area

flyingscottie81

Hi all,

I have just over £2k on Santander card at 14.5% and have been offered the deal above with Barclaycard...

Truth is I find BC a lot easier to manage as you can do everything online, whereas with Santander you can't even update an address or telephone number online!!!

What do you think? I only have £1k free on the BC account, but was thinking of asking for an increase....

Hmmm. any thoughts?

Thanks all!

Moggles_2

flyingscottie81 wrote: »

I have just over £2k on Santander card at 14.5% and have been offered the deal above with Barclaycard [6.9% APR for balance life + 2.5% fee]. Truth is, I find BC a lot easier to manage as you can do everything online, whereas with Santander you can't even update an address or telephone number online. What do you think? I only have £1k free on the BC account, but was thinking of asking for an increase.

You don't mention the existing credit limit on your Barclaycard.

B'card balance transfers are restricted to 90% of your credit limit or £5,000, whichever is the lower.

Note: if you have a balance on your B'card, it would be advisable to clear that first, before you take up the offer, due to the payment hierarchy (please see Ts & Cs under Order of Payments)

MarsdenCuckoo

MBNA have got some good deals going at the mo. Just posted details on another thread - will see if I can find it rather than 'test' my brain again.......

(Am finally getting the hang of this site!)

If I understood correctly what they told me today:

For a transfer fee (3/4%) they are offering a 0% interest for 12 months.
They're also offering 6.9% 'for the life of the loan' for balance transfers - 3% transfer fee from other cards or 4% to pay into your existing current account. Minimum repayment £25 per month or 1%, whichever is the least.

Could help a lot of people convert from using a 'permanent' overdraft to keeping in the black and attracting £5 interest per month for staying in credit.

PS: They're also offering 0% on purchases until February or May, 2010 depending whether the transaction date is pre/post 16 October 2009.

Moggles_2

MarsdenCuckoo wrote: »

MBNA have got some good deals going at the mo. If I understood correctly what they told me today, for a transfer fee (3/4%) they are offering a 0% interest for 12 months.

0% is available to new, online customers for 13 months on BTs made within the first 90 days of account opening.
A 2.9% balance transfer fee applies, 4% handling fee for money transfers

https://wwwa.mbna.co.uk/apply/UKCCapp/Ctl/entry?sc=8po50ag04_ost&mc=ECO-UK-33333-11954

They're also offering 6.9% 'for the life of the loan' for balance transfers - 3% transfer fee from other cards or 4% to pay into your existing current account. Minimum repayment £25 per month or 1%, whichever is the least.

Brilliant, thanks :T

MarsdenCuckoo

Moggles wrote: »

0% is available to new, online customers for 13 months on BTs made within the first 90 days of account opening.
A 2.9% balance transfer fee applies, 4% handling fee for money transfers

https://wwwa.mbna.co.uk/apply/UKCCapp/Ctl/entry?sc=8po50ag04_ost&mc=ECO-UK-33333-11954

Brilliant, thanks :T

Glad I got part of it right. (We were on the phone a long time and OH and I kept passing it back 'n forth.) Was surprised to learn that we'd been given a 0% deal on purchases when we used the card this month. Just rang to check how long this was valid for, which is how I came to know about the February/May deals.

Moggles_2

MarsdenCuckoo wrote: »

Glad I got part of it right. (We were on the phone a long time and OH and I kept passing it back 'n forth.) Was surprised to learn that we'd been given a 0% deal on purchases when we used the card this month. Just rang to check how long this was valid for, which is how I came to know about the February/May deals.

Great stuff. Thanks for sharing.
:beer:

InaPickle

Moggles wrote: »

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

Hey guys,

OK, so this month I will earn just under £900 (but I won't know exactly how much until I see the sheet due to the complicated way in things are worked otu where I work). I still want to apply for a 0% card, but I need ti figure out what they ask and how they ask it. For example, based on my earnings for this month, if I earned that much every month I would be earning just over £10.000/year. However, if they ask me how much I've earned over the past, say, three months, it would mean that I've taken home a lot less. I've never actually filled in an application form for a credit card before, so I'm not sure what they ask. Can anyone help? I'm was thinking of applying to Virgin so if anyone has filled in their form, I would appreciate telling me what they ask. Also, I'm currently working a lot more hours than my contracted hours at the minute. I have no reason to think my hours would get cut in the foreseeable future, but do they ask anything about number of hours contracted etc.? There's no way they would accept me with the paltry number of hours I'm contracted. And when talking of 'earnings', does that mean base rate only or do they ask about commisstion etc. as well as I earn some in my job (not enough, alas! )

Thanks for your help. As you can tell, I'm kind of new to this! I just really want to get a balance transfer.

Moggles_2

InaPickle wrote: »

I'm was thinking of applying to Virgin, so if anyone has filled in their form, I would appreciate telling me what they ask .... I'm kind of new to this! I just really want to get a balance transfer.

The majority of cc providers, including Virgin, ask for annual income.

You can check this yourself, as well as the other questions, by doing a dummy run online. There's no need to press the submit button at the end, if not entirely happy with your answers

WASHER

I would very much appreciate your advice.

I have no debt other than mortgage as such, I currently have £3000 on a credit card, but have the savings to repay this immediately.

I am looking for a new card with the following:

No balance transfer fee (I'm not sure any exist)
No Interest on BT for an extended period of time.

I do not use any credit card for purchasing goods, I burnt my fingers years ago doing that, and If I haven't got the money then I don't buy it.
I have simply transferred £3000 every 9 months onto a new card, but I'm not sure if I am actually making any money because of the balance transfer fee. Savings currently get 6%, they are in childrens name (am I allowed to say that?)

I currently have a Barclaycard, was 0% and it expired this month.

Any ideas?

WASHER.x.

Moggles_2

WASHER wrote: »

I currently have £3000 on a credit card, but have the savings to repay this immediately. I am looking for a new card with the following: No balance transfer fee (I'm not sure any exist) No Interest on BT for an extended period of time. I currently have a Barclaycard, was 0% and it expired this month.

There are plenty of 0% balance transfer credit cards to choose from, but all currently charge BT fees. That said, if you can clear 6% AER on savings, you should still come out on the right side.

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