Best Balance Transfers Discussion Area

cannyscot_2

I had an offer on my barclay mastercard for 0%. I paid off the £800 I had on the card by debit card. They then charged me a late payment charge and interest even though they said on the phone I was in time. After 2 calls they took these amounts off but they now have that I missed a payment -ie did not pay the interest they charged -so they withdrew the 0% offer .

I need to transfer a balance from marks and spencers -any ideas.

I have barlaycard mastercard,halifax-(this has 6 months at 0%) and egg (all empty) or I could get another . Egg has an 0% for new cars but has anyone any experience of calling and asking for an 0% deal for an exsisiting customer? I have a big limit in that so it would be very useful if I could. It's the first time I have tried the moving ballances thing -it's not proving as easy as I thought.

MinniMe_2

Thanks Moggles - tahts the decision made - PO it is then!

i

Moggles_2

bgarnish wrote: »

Would you recommend someone, me, who's just been refused for a credit card from Virgin due to having too many addresses, I know this is what the lady said on the phone, to apply for a Post Office credit card online?

If memory serves, you have three recent credit checks triggered by cc applications (Barclaycard, Tesco, Virgin) on credit files. Are there any others?

Think about the number of applications for credit you've made in the past 3 months. Include bank accounts, catalogues, store cards, mobile phones etc. not just credit cards. Anything with credit facilities will leave footprints on your file. Then consider your plans over the next 3 months.

Credit checks appear on your credit file more or less in real time. In itself the effect of a couple of credit card applications in 3 months may be insignificant but, in the context of your credit history as a whole, 3 or 4 checks could certainly have an impact on your credit rating. Remember any firm that searches your file subsequently will see each credit check until it drops off your file 12 months later.

Meanwhile, I would order a credit report, if you haven't already. (For help, see page 1 of the *How to obtain credit reports* sticky.) Once you know what lenders will see, you are in a better position to improve their opinion

Moggles_2

cannyscot wrote: »

I need to transfer a balance from Marks and Spencer. Any ideas? I have Barclaycard Mastercard, Halifax (this has 6 months at 0%) and Egg, all empty, or I could get another... It's the first time I have tried the moving balances thing. It's not proving as easy as I thought.

Have you estimated how long it will take you to pay off the Marks & Spencer debt?
If less than 6 months and you'd prefer to avoid a credit check, the Halifax offer of 6 months at 0% (plus a 3% BT fee presumably) is fair to middling, depending on the rate currently charged by M&S.

That said, you can get 0% for at least twice that duration on a new 0% BT card on payment of a 3% transfer fee.

To maximise the 0% period, 16 months is currently available from Virgin on transfers made in the first 60 days.
A 2.98% BT fees applies

http://uk.virginmoney.com/credit-card-v3/

Sh0rty

i have a £600 balance on a abbey satander zero card which is now accumulating interest i want to transfer it and pay it off over 4 months as work has dried up a bit what card am i best transfering to?

wanted to go for the virgin card but you cannot transfer from one mbna card to another

NickX

Sh0rty wrote: »

wanted to go for the virgin card but you cannot transfer from one mbna card to another

Santander Zero is not an MBNA card, it is run inhouse by Santander.

So, Virgin should accept a Balance Transfer from Santander Zero.

~Yorkshire_Belle~

Hi Moggles & co

I have a Virgin CC with 0 balance. Is it best to
a) keep it open and hope I get offers for BT ( and if so are they as generous with time and limit as they were the first time?)
or
b) close the account and try to reopen in 4 months time when my other CC 0% finishes? ( Is 4 months with Virgin long enough to be classed as a new customer and threreby get a new offer?)

Hope you can help and thanks in advance

Moggles_2

~Yorkshire_Belle~ wrote: »

I have a Virgin CC with 0 balance. Is it best to a) keep it open and hope I get offers for BT or b) close the account and try to reopen in 4 months time when my other CC 0% finishes? ( Is 4 months with Virgin long enough to be classed as a new customer and thereby get a new offer?)

IME, Virgin has regular, existing-customer offers (e.g 0% on purchases for 6 months) and will even waive BT fees sometimes, if you're prepared to negotiate over the phone. Also, I would think twice about closing my last MBNA card (eg. MBNA itself, Virgin), as these cards allow you to route funds via your current account at BT rates. This means you can take advantage of BT offers even when you haven't a cc balance to transfer.

Within a couple of months of closure, former card holders are free to re-apply to Virgin as 'new' customers and take advantage of any introductory deals on offer. Of course you may not get the same deal or credit limit the second time round. There are no guarantees.

If I were you, I'd play safe & apply to a different lender. There's no shortage of 0% BT cards to choose from. To help you further, we would need to know which cards you have at the mo or have held recently.

~Yorkshire_Belle~

Thank you, good advice as always!
I am fortunate not to have to take action immediately but will be back for up to the minute advice 6 weeks before my 0% is finishing, and will hang on to my Virgin CC for now and see what they offer ( it does say online that there are promotions available for me but as I don't need it now I haven't rung)
Thanks Moggles

Moggles_2

~Yorkshire_Belle~ wrote: »

Thank you, good advice as always! I am fortunate not to have to take action immediately, but will be back for up to the minute advice 6 weeks before my 0% is finishing and will hang on to my Virgin CC for now and see what they offer ( it does say online that there are promotions available for me, but as I don't need it now I haven't rung)Thanks Moggles

Sounds like a plan

Very best
M