Best Balance Transfers Discussion Area

Buzzz

Hi,

I've done the MBNA (Virgin) and Virgin BT over the last couple of years and naughtily not paid off in time and also I broke the 'never ever ever' rule and spent on the card.

The time is up in March and I need to apply for a new BT. Had I might as well do it now as i've spent on current card and am accruing interest?

Also, I plan for pay off the £2600 at £200 a month so thought about going for the Abbey / Santander 15 month BT which sounds good.

Any other options?

orangina

I have about £5000 accross RBS and MBNA card - plan to pay off £1000 a month January - May 2010 (have the last £2600 on my barclaycard to pay off Nov/Dec) - are there any cards out at the moment with 0% interest for 6 months and 0% BT fee???

Moggles_2

mrsdarbs wrote: »

Will have a look at that article thanks - already got a card with Halifax - another one to try and transfer!

Okay, to help you further, we would need to know which credit cards - besides Egg and Halifax - you have at the mo or have held recently.

Moggles_2

Buzzz wrote: »

I've done the MBNA (Virgin) and Virgin BT over the last couple of years and naughtily not paid off in time and also I broke the 'never ever ever' rule and spent on the card. The time is up in March and I need to apply for a new BT. I might as well do it now as i've spent on current card and am accruing interest?

You stand to lose more than 3 months at 0% if you shift the balance now. Whether this is worth doing depends on the extent you've spent on the card. It's your choice really.

I plan for pay off the £2600 at £200 a month so thought about going for the Abbey / Santander 15 month BT which sounds good. Any other options?

We've repeatedly warned of Santander'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 applications are apt to disappear without trace and postal applications are still subject to long delays, apparently. From feedback here, there's a four week backlog of applications for the Santander Zero card :rolleyes:

To help you further, we would need to know which cards - besides MBNA and Virgin - you have at the mo or have held recently, also whether you've applied for any unsuccessfully.

jackoiswacko

Do you know if you can balance transfer a overdraft to a credit card?

mrsdarbs

Moggles wrote: »

Okay, to help you further, we would need to know which credit cards - besides Egg and Halifax - you have at the mo or have held recently.

I have:
Natwest
HSBC
Halifax

Hubby has:
Halifax and EGG

Wondering whether a consolidation loan would be better - but not going to beat the 0% interest and can't overpay in the same way!?

happyformonths

jackoiswacko wrote: »

Do you know if you can balance transfer a overdraft to a credit card?

You can balance transfer an overdraft to a Virgin card (I believe you can do it to other MBNA cards, too, but I'm not 100% sure). Most other cards don't permit it.

Please, better-informed people, correct me if I'm wrong.

funkiechops

Hi all

Hope you can help me with this one - we would like to transfer a credit card debt with M&S money of £2500 in my partners name into my name to reduce the debt. In the past year partner has gone self employed so I am now the major earner with salary of £23,000. Can I apply for a 0% balance transfer card in my name or do i have to go for a 0% on purchases and pay off the balance with that.

Just for information, debt was spent by both, not concerned about taking on this debt in my name, its to ease our very much joint situation!

Thanks for any help offered.

Moggles_2

orangina wrote: »

I have about £5000 across RBS and MBNA card - plan to pay off £1000 a month January - May 2010 (have the last £2600 on my Barclaycard to pay off Nov/Dec) Are there any cards out at the moment with 0% interest for 6 months and 0% BT fee?

In a word, no.

All lenders now charge new customers balance transfer fees (a trend started by MBNA). There are lots of cards offering 0% for 6 months though. Lowest BT fee is 1.5%
www.play.com

Note: you can transfer from Barclaycard or Royal Bank of Scotland to the Play.com card, but not from MBNA.

Moggles_2

jackoiswacko wrote: »

Do you know if you can balance transfer an overdraft to a credit card?

A few rather special cards will allow you to transfer an overdraft to them, (in other words, transfer cash from the credit card to your current account), at balance transfer rates. A handling fee applies (typically 3-4% of the sum shifted), but there are no other charges during the introductory promotion (usually 12-13 months). You would need:

a card issued by MBNA (e.g. MBNA itself, Sony, Virgin), Egg card or the Post Office card