Best Balance Transfers Discussion Area

PJB

Declined for Asda card, thought was GE Capital according to Stoozing but reply was Santander so beware and if you can update Moggles would be good!

Moggles_2

PJB wrote: »

As above, have made a no of app's for CCs. Accepted for 2 and 3 said will contact in next 3-10 days. There are 1 or 2 more thinking of applying for, but am aware of adverse affect of multiple searches. How long does it take for these to update? Would i be better doing other 2 app's now or waiting on results of other?

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

To help you further, we would need to know which cards - besides Virgin and the
Post Office - she has applied for, also whether she's applied for any unsuccessfully
apart from ASDA.

dfh

PJB wrote: »

It was me understanding that you can reapply for cards but would not qualify for introductory or new customer offers, did you get any offers?

With barklaycard my partner got 0 percent 12 months balance transfer both times ! With halifax,I got 12 months 0 percent the first time and 9 months zero percent the second time.Looks like the credit card companiescan do as they please.

Smarty_pants

My daughter who has just graduated has debts of approx £2,000 ( Barclaycard and another card). She has a part-time job but is not earning enough to qualify for a 0% balance transfer credit card.

Question: Can I apply for the credit card and get her debts transferred onto this?

Moggles_2

Smarty_pants wrote: »

My daughter who has just graduated has debts of approx £2,000 (Barclaycard and another card). She has a part-time job, but is not earning enough to qualify for a 0% balance transfer credit card. Can I apply for the credit card and get her debts transferred onto this?

Yes, you can transfer credit card balances from family, friends or Dave down the pub. You should be aware though, that the person whose card her balance is shifted to, becomes solely liable for the debt.

From the lender's perspective, it's not a problem. You may be asked for the name on the card, but this is purely an additional verification check. At the end of the day, the card company is after your business. They're not really interested in knowing who ran up the debt, as long as you, their customer, pay up on time each month!

Caution: you cannot switch balances between cards underwritten by the same bank (this would be like trying to pay 'em off with their own money.) This table on the stoozing site (which is sponsored by Money Saving Expert) should help:;)

http://www.stoozing.com/cards.htm

fluffymovie

Sorry, don't know if this is quite the right place but wonder if I could ask for some advice.

I was lucky enough to inherit some money some years ago and it has seen me able to clear off my ccs in full each month. Recently however, we spent the remainder of the money on our wedding and as a result, my card's had balances on them for the first time ever. Total owing about £4500.
I have just applied for a Virgin balance transfer and card and got an immediate decision saying that I could have a limit of £8800 and had been approved.
Could someone just let me know what happens with the balance transfers now? Do I get the money and need to pay it off or do Virgin clear the balance for me and then issue me with a bill for the £4500?
Sorry if I seem a bit thick, never done this before and honestly thought that it would be a matter of "send us your bank statements, payslips " but it was approved in less than 60 seconds!
Any advice or if you could point me to the right place, would be most welcome and appreciated

Moggles_2

fluffymovie wrote: »

I was lucky enough to inherit some money some years ago and it has seen me able to clear off my ccs in full each month. Recently however, we spent the remainder of the money on our wedding and as a result, my cards had balances on them for the first time ever. Total owing about £4500. I have just applied for a Virgin balance transfer and card and got an immediate decision saying that I could have a limit of £8800 and had been approved. Could someone let me know what happens with the balance transfers now? Do I get the money and need to pay it off or do Virgin clear the balance for me and then issue me with a bill for the £4500? Honestly thought that it would be a matter of "send us your bank statements, payslips " but it was approved in less than 60 seconds!

Yes, most credit decisions are computerised and Virgin gives instant decisions and credit limits to online and telephone applicants, provided that your identity, available credit and so on can be verified electronically via the credit reference agencies, which in turn collate data from public records such as the electoral register.

To request a balance transfer from another credit card, call Virgin Card Services with your old card to hand. If you've yet to activate your new card, you can do this during the activation call. There's a Freefone number. Alternatively, if you ring Card Services on 01244 673700, you'll still avoid the perishing 0870 numbers

cookie334

I was wondering if someone who has recently been accepted for an MBNA card can help me with some info.

I applied for one earlier on in the week and applied for the money transfer to clear my overdraft during the application process. I was accepted straight away online and was given my credit limit, but it stated I would receive a confirmation email within 48 hours which I've not received yet. Are they usually pretty punctual at sending the confirmation email?

Also I was wondering roughly how long it takes after the application is accepted to transfer the money? Will it be once I receive and activate the card?

Thanks in advance, I've never applied for a credit card online before so a bit unsure and anxious about it all

Moggles_2

cookie334 wrote: »

I was wondering if someone who has recently been accepted for an MBNA card can help me with some info. I applied for one earlier in the week and a money transfer to clear my overdraft during the application process. I was accepted straight away online and was given my credit limit, but it stated I would receive a confirmation email within 48 hours which I've not received yet. Are they usually pretty punctual at sending the email? Also I was wondering roughly how long it takes after the application is accepted to transfer the money? Will it be once I receive and activate the card? I've never applied for a credit card online before so a bit unsure and anxious about it all.

No recent experience personally but, from feedback here, MBNA is a pretty efficient operation.

Note for future reference: with MBNA and most cc providers, you either complete the BT request section during the application process or wait until the card arrives and have confirmation of your credit limit.

IMO, it's safer to wait until receipt of the new card and limit. That way you keep your options open and retain some control over what happens when.

Also, it's better to request your transfer by phone as opposed to online. You can do this when you call to activate your new card. There's usually a dedicated, Freefone number.

MBNA allows you to borrow up to 95% of your credit limit. If you do it this way, the money arrives in your bank account in about 6 days

tlcweightlose

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