Best Balance Transfers Discussion Area

liketosavemoney

Hi Moggles,

I think it said something along the lines of 'we may need some more information from you and will be in touch'

Moggles_2

liketosavemoney wrote: »

I think it said something along the lines of 'we may need some more information from you and will be in touch'

Okay, I wouldn't worry. These messages are not uncommon and, as often as not, recipients get accepted a few days later

liketosavemoney

Thanks Moggles, think I will give it until next week, then I might try calling the number to see if they have my application if I havn't heard anything.

gfunk_2

Hi, I'm new here, so hello hello!

I'd like some advice if i may.

I have a virgin credit card with £1800 pounds on it, 0% deal ending in April this year. I have an overdraught of about £800.00 come the end of the month. I would like to put the overdraught onto the credit card so its all in one place.

What would be best, transferring my overdraught now to the virgin card then finding a new 0% deal for £2600 when that deal ends, or getting a new deal first then adding the overdraught?

As far as i can tell not all 0% deals accept overdraughts transferred to them, am i correct in thinking this?

Any help much appreciated! I thank you.

Moggles_2

gfunk wrote: »

As far as i can tell not all 0% deals accept overdrafts. Am i correct in thinking this?

Yes, 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 balance shifted), but there are no other charges during the introductory promotion (usually 12-13 months)
You need:
a card issued by MBNA (e.g. MBNA itself, Sony, Virgin), Egg card or the Post Office card.

I have a virgin credit card with £1800 pounds on it, 0% deal ending in April this year. I have an overdraught of about £800.00 come the end of the month. I would like to put the overdraught onto the credit card so its all in one place. What would be best, transferring my overdraft now to the Virgin card then finding a new 0% deal for £2600 when that deal ends ... ?

That would involve two transfer fees to shift the same money.

To help you further, we would need to know which cards - apart from Virgin obviously - you have at the mo or have held recently, also who you bank with?

allsaint

Ok, with my tin hat on - My wife has been approved for a Barclaycard. Is it possible to bt from one of my cards to her new one? Cheers

CannyJock

allsaint wrote: »

Ok, with my tin hat on - My wife has been approved for a Barclaycard. Is it possible to bt from one of my cards to her new one? Cheers

So long as it's not another Barclaycard then yes.

cheatthecheatingcheaters

PLBrael wrote: »

Could also be worth noting that Virgin are offering £40 towards the cost of your Virgin Media bill if you sign up for their card before the end of January. Also, I noticed today that the Post Office card currently offers 0% on the 1st and 2nd anniversary of your card for 5 months. I think there was a balance transfer fee of just under 3% applicable.

Virgin's interest-free deals are tempting. I went with them a few months ago, consolidating the debt on two other credit cards, knowing I could pay it off within six months. However, they created an issue which then was blamed on me, charged me a penalty fee, then revoked my interest-free status. I successfully argued to get back the penalty fee, and the interest, then they continued to charge me interest anyway. I am currently locking horns with Virgin in an attempt to get the interest back from them, which they TOOK FROM MY ACCOUNT, WITHOUT TELLING ME, WHICH IS BASICALLY THEFT.

F**k Virgin. be warned.

cheekypixies

Am brand new to forums and have only known about this site for a couple of weeks. Following advice on site applied for a HSBC credit card with a view of transferring balance to it (am an exisiting customer so was hoping for 16 months at 0%). However application has come back with a credit limit of £500 - not much help when balance I wanted to transfer was £4K. What should I do?

cheatthecheatingcheaters

Virgin, MBNA, in my opinion, are just not worth the risk. They sure as hell did their best to rip me off.

I went with them a few months ago, consolidating the debt on two other credit cards, knowing I could pay it off within six months. However, they created an issue which then was blamed on me, charged me a penalty fee, then revoked my interest-free status. I successfully argued to get back the penalty fee, and the interest, then they continued to charge me interest anyway. I am currently locking horns with Virgin in an attempt to get the interest back from them, which they TOOK FROM MY ACCOUNT, WITHOUT TELLING ME, WHICH IS BASICALLY THEFT.

Typing virgin money rip off into google led me to a bunch of forums and statements from customers where it seems they have a history, with both credit cards and pre-paid credit cards, of creating issues with the account, and then using that issue to revoke the interest-free conditions on the card, costing the customer extortionate amounts of interest.

They are liars, cheats, thieves, con-artists and frauds. Steer clear.

Moggles wrote: »

Yes, a few rather special CCs, like Virgin/MBNA and MBNA itself, 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 4% handling fee applies.
Note: there may be no interest charges either for the first X months, if you're a new customer.

If you have the card and confirmation of your credit limit, you can request your money transfer by phone. If it's a new card, I'd do this when you call to activate. There's a dedicated, Freefone number. Btw, you don't have to be using an overdraft facility to request a money transfer.

MBNA allows you to borrow up to 95% of your credit limit and the money arrives in your bank account in about 6 days.
This table on the stoozing site (which is sponsored by Money Saving Expert) should help:

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