Best Balance Transfers Discussion Area

CannyJock

iamc0b wrote: »

would i be able to make the complete repayment with one of these cards to Zopa then do the 0% transfer to the MBNA card and save myself some money?

MBNA are one of the few providers who will transfer funds directly to your bank account without it counting as a cash advance. No need to involve your other cards to make an overpayment to Zopa.

paulczar

paulczar wrote: »

i'm wondering if any of you can help.

Got almost 5k on an egg cc with a 17.9% interest rate.

I'm thinking of transferring the balance to a 0% card but was wondering if people had an opinion/vague idea (shot in the dark i know) on what would be the most likely for me the be accepted with a 5k limit?

I see Virgin/MBNA and Santander have fairly long term 0% balance tranfers. Is one better/easier to get than the other?

I have slight ties with Santander already with a cahoot credit card with no balance and a 1k limit, a cahoot account with a few pounds on it thats hardly used and a cahoot loan going into its final year with 2k left on it.

So would i be better or worse off trying for a card with Santander or should i avoid them and try MBNA who i have no ties with? Or is there someone else i should try?

So i applied for a Virgin Card and got given a limit of £4400. Which is good, just a wee bit annoying as i'll have 750ish still on the egg card. Still, i expected to be offered alot less so i'm fairly happy.

One thing, do you normally get a conformation email straight away? Ive not received anything and its deffo not in my spam folder. I'm beginning to wonder if i wrote down the wrong email. I suppose i'll just have to wait the 7 to 10 days it said it would take for the card to arrive in the post.

tasha29

Hi

Sorry not sure if this is the right section of the forum to place this...
I've recently opened an Asda Credit Card, purely for the 0%APR on balance transfers for 12months that they are offering.
However.....upon activating my card and requesting to do 1 of 2 balance transfers, i was informed there was a problem at the moment with transfering balances from Barclay Card. This was over 2weeks ago and i've called back twice to find out what the problem is...this si still ongoing.
Has anyone had this problem, more importantly has anyone managed to transfer from Barclay card to Asda.

Thanks:(

HOGOGG

just a quick question, i currentley have £7500 o\s on Co-operative back CC, I'm not planning on using it for anymore purchases. The Co-operative are charging approx £120 per month interest.

I've seen the Virgin 0% card and was thinking of applying, how easy is this to do and will they still give me the same credit limit. If i apply and they give me a lower credit limit can i transfer part of my co-operative CC. Never done a balnce trf before so alittle weary.

paulczar

HOGOGG wrote: »

just a quick question, i currentley have £7500 o\s on Co-operative back CC, I'm not planning on using it for anymore purchases. The Co-operative are charging approx £120 per month interest.

I've seen the Virgin 0% card and was thinking of applying, how easy is this to do and will they still give me the same credit limit. If i apply and they give me a lower credit limit can i transfer part of my co-operative CC. Never done a balnce trf before so alittle weary.

Yes you can transfer how much you want.

I'm kinda in the same boat, got 5k on an egg card and a new virgin card with a limit of £4400. So once my account is set up i'll be logging onto the virgin site and transferring £4400 (minus the transfer fee) from the egg card.

jamesd

iamc0b wrote: »

Looking for a little advice, i currently have a Zopa loan 1 year in £6000 for 5yrs @12.1%. Im considering applying for the MBNA deal as detailed by Martin locking in rate at 6.7% and then making regular payments to the credit card as i have been Zopa. ... I would likely in addition to this increase my existing monthly payments by £50 -75.

Easy to do with the Virgin card, can cash advance to your current account then pay Zopa from there. Instead of locking in 6.7% why not just use the 0% deal for 16 months then do another balance transfer if you still have a balance at the end of the deal? That'll usually be cheaper.

Declaration of interest: I both have loans via Zopa and lending offers at Zopa, though those aren't likely to be matched at present. I haven't looked to see if I'm one of the people who lent to you and I don't care either way whether you clear it or not even if I am.

paulczar wrote: »

So i applied for a Virgin Card and got given a limit of £4400. Which is good, just a wee bit annoying as i'll have 750ish still on the egg card.

Nice thing about the Virgin card is the low minimum payment so you can set it up for minimum payment and set up a standing order for £1 in addition while you clear the £750. You set up the £1 because Virgin/MBNA is one of the sets of cards that reports if you only make the minimum payment and that can reduce your chance of getting another deal later, best to pay a bit over and avoid that risk. You could also try a card that has a 0% for purchases deal and transfer some regular spending to that card for a while, using the "saved" money to clear the 750 more quickly.

HOGOGG wrote: »

I've seen the Virgin 0% card and was thinking of applying, how easy is this to do and will they still give me the same credit limit. If i apply and they give me a lower credit limit can i transfer part of my co-operative CC. Never done a balnce trf before so alittle weary.

It's very easy to do, no hassles. They can give you a higher or lower limit, no way to tell. No problem to transfer just what Virgin lets you from the Co-op if that's less than the Co-op balance. If it's a lot less then you can try another 0% balance transfer, if it's not much less the Virgin minimum payment is low so you can concentrate on clearing the remaining Co-op balance before tackling the transferred part.

CannyJock

paulczar wrote: »

Yes you can transfer how much you want.

I'm kinda in the same boat, got 5k on an egg card and a new virgin card with a limit of £4400. So once my account is set up i'll be logging onto the virgin site and transferring £4400 (minus the transfer fee) from the egg card.

Max you can transfer is 95% of limit, so that'll be £4,180. Then they'll add on the 2.98% fee bringing it up to £4,305. You should then pay only the minimum on the Virgin 0% card while putting every penny into clearing the highest APR Egg card.

paulczar

i didn't know about the 95% transfer limit, thanks.

Welshy213

Looking for a new crd to BT.
Only looking to move around 3k, but this has to be with a non Mastercard or non egg account.
I have almost 30k in available balances, but no offers on these so I want to get these closed down, moving this 3k will allow me to close 20k of available credit.
Any ideas?
I will continue to search the forum.

Thnks

John

goodhope7

goodhope7 wrote: »

Hi guys, Need some advice.
I have a graduate personal loan with HSBC for nearly 20,000, paying it monthly 360 for next 5 years [approx]. Interest rate for that is 8.9% and i CANT repay it early by depositing money on/off.[ like a mortgage]
I have 2 credit cards- tesco,[ credit limit - 4500] with balance of 2000 and Virgin money card [Credit limit -9000],which i opened nearly 2 years before and used the 0% balance transfer for 15 months offer. I am using my Virgin card for regular purchases and paying off full balance by monthly direct debit.
I would like to clear the personal loan for 2 reasons -- 1.high interest rate. 2. cant repay it earlier even though i have some money.
I have a promotion offer with Virgin card, for LOB 6.9%. I would like to shift the personal loan into LOB card so that i can repay it quickly and also i can have it for less interest.
So my plan was to apply for onether MBNA VISA CARD with LOB 5.9% and transfer the balance from existing VIRGIN into newly opened MBNA visa card. Then i can pay only 5.9% and also can repay it in a span of 1-2 years.
I am aware that their is a fee of 4 % as the money i believe would be deposited in my current account first.
Would you guys think i am doing any good by trying this?.
I have pretty good credit score and never missed payments, earning around 50,000 salary, own a house.
Any other suggestions regarding other credit card deal for LOB?
sorry for the lengthy mail.
Would appreciate very much for any help.
Thank you MSE.

thank you for reply.
BIG THANKS TO MARTIN.
I have applied last night online for MBNA platinum plus card with no transfer fee and LOB 6.7%
I was given a card today on phone with a balance limit of 16,000. Now i am transferring my Hsbc personal loan on to this card.
thank you saving my money MSE