Best Balance Transfers Discussion Area

Moggles_2

steve3502 wrote: »

I have transferred small amounts through Moneybookers on my credit card without incurring any cash withdrawl fees?

Please check your monthly statement. What interest rate has Barclaycard charged?

kolin_2

hello all,

i'm interested in transferring my credit card balance (HSBC) to the egg card offer, is there any way I can find out how much I can transfer, i.e. how much on my HSBC card are purchases, and how much is cash?

i'm assuming I can only transfer the purchases.

Moggles_2

kolin wrote: »

I'm interested in transferring my credit card balance (HSBC) to the Egg card offer. Is there any way I can find out how much I can transfer, i.e. how much on my HSBC card are purchases and how much is cash?I'm assuming I can only transfer the purchases.

No, the types of transaction on your old card have no bearing on the amount you can transfer or the rates you would be charged on the new card.

Egg would allow you to borrow up to 95% of your credit limit.

kolin_2

Moggles wrote: »

No, the types of transaction on your old card have no bearing on the amount you can transfer or the rates you would be charged on the new card.

Egg would allow you to borrow up to 95% of your credit limit.

so even if i have a balance on HSBC of 5000 made up of about 80% cash withdrawls, and 20% purchases, I can transfer any amount of this, and still get the 0%?

Moggles_2

kolin wrote: »

So even if i have a balance on HSBC of £5000 made up of about 80% cash withdrawals and 20% purchases, I can transfer any amount of this and still get the 0%?

Yes, the only restriction would be the credit limit you were handed by Egg.

kolin_2

super, thank you

obiwan_2

Hi all,

I've been a follower of all the great articles on this site, and I have now taken the plunge to tidy up my debts.

I have a 7000 on virgins' 0% balance transfer card on which i have been making minimum payments. It expires next month so I applied for the Abbey card in order to transfer the balance but got rejected. My question now is, what do I do next?

I can't quite afford to start paying the debt now, I can only afford the minimum payments till i get myself a better job.

Meantime, I checked my records with experian, and its good, all my colours are green. I have £400(out of £500) on Barclay card, £4000(£7500) on HSBC, £25 (£500) on Halifax, and a Barclay loan of 25000, I make at least minimum payments on all when due, and so don't quite understand why I was rejected.

If anyone can help me understand why, and tell me a way forward with regards to transferring the virgins 7000, I'll really appreciate it.

Thanks in anticipation

SmoothMover

Hi Moggles,

I've been to that Stoozing site and I can't see any reference to MoneySavingExpert? I clicked on one of the links and it looks like it is a paid one too! I'd be wary of this if I were you. They're all trying to scam us!
Thanks for the help though.

NickX

SmoothMover wrote: »

I've been to that Stoozing site and I can't see any reference to MoneySavingExpert? I clicked on one of the links and it looks like it is a paid one too! I'd be wary of this if I were you. They're all trying to scam us!

There are many scammers out there, but fortunately www.stoozing.com is not one of them.

The home page clearly says :

"Proudly sponsored and supported by www.moneysavingexpert.com"

There is even a picture of Martin next to these words.

www.stoozing.com is a great resource and provides a completely unbiased list of credit cards.

The owners are also regular posters on here along with YorkshireBoy who frequents here and moderates the stoozing forum.

dhernandez

Quick question for everyone. If I have an existing Credit Card and wanted to transfer the balance, the new card provider would charge me 3% (or there abouts) to do so. If I received the card and then paid the balance of my old card off using my new card details, would they view this as a cash advance or a bill payment and therefore would this amount have the 0% interest deal applied to it?
Thanks in advance.
D