Best Balance Transfers Discussion Area

YorkshireBoy

Sarahx wrote: »

Do you think I would also be able to get another 0% card in june as a 0% Currys loan ends then (I may have it paid off by then as it's £500, but just incase)?!

If you get a large enough limit on the MBNA/Egg card, you could tag it all on there.

Moggles_2

Originally Posted by realitybet
Which company would be more likely (if any) to accept a £3500 transfer from HSBC? Do they except transfers for this amount? Good credit rating no defaults/CCJ's.

Well, you definitely cannot transfer your balance to Beneficial, First Direct, GM card, John Lewis or other brand which belongs to the same stable as HSBC.

That said, the likelihood that any given lender will accept a balance transfer depends upon your credentials rather than those of HSBC.

It's perfectly possible to shift a balance of £3500 provided that you're handed a sufficient credit limit.

Do you want to transfer to a 0% balance transfer card or a life-of-balance card?

To help you further, we would also need to know which credit cards, besides HSBC, you have at the mo.

cupc4kes

Ive got a virgin credit card with about £300 on it.My 0% is due to end in April.My boyfriend has a LloydsTSB gold card with about £600 on.We want to put both of these balances on 1 card and have that as a joint card.If you know what I mean.Is this possible or is it a case of paying the 2 balance transfer fees.Also between us we have a couple of cards which we dont use.Will this go against us.And which card would be best for us as we plan to pay this off as quickly as possible.Also I applyed for a phone contract a few weeks ago and was excepted again will this go against us.Or beacuse its a joint application would this more than likely be accepted? Sorry for all the questions but im a newbie

Moggles_2

Originally Posted by cupc4kes
I've got a Virgin credit card with about £300 on it. My 0% is due to end in April. My boyfriend has a LloydsTSB Gold card with about £600 on. We want to put both of these balances on one card and have that as a joint card.

You can transfer both balances to one credit card, but that card must be held in your name or his. You cannot hold a credit card jointly.

You should bear in mind that the person whose card the balances are shifted to, becomes soley liable for the debt. If you were to fall out, you couldn't ask the card company to charge your boyfriend for any balance remaining on a card which was taken out in your name.

Is this possible or is it a case of paying the two balance transfer fees?

If balance transfer fees are payable, you would be charged two fees whether you shift the debts to one card or two.

Moggles_2

Originally Posted by cupc4kes
Between us we have a couple of cards which we don't use.Will this go against us? Also I applied for a phone contract a few weeks ago and was accepted. Again will this go against us?

These are not best balance transfer questions. Please post again on the main credit card board. You'll get lots of replies there.

Moggles_2

Originally Posted by cupc4kes
Which card would be best for us as we plan to pay this off as quickly as possible?

There's no perfect solution that suits everyone. Do you want to transfer to a 0% balance transfer card or a life-of-balance card?

To help you further, we also need to know which credit cards - besides Virgin and LloydsTSB - you have at the mo.

King_Weasel

magicdogsbrain wrote: »

...

I phoned up the customer services – “can I have a balance transfer please”. “How much would you like to transfer”. “How much can I transfer” I asked. A few moments pass and a reasonable reply is given. “Yes, please transfer that amount” I reply.

A few days later I receive a letter informing me that I have exceeded my limit (by 0.44% of my limit), I will be charged £12 (more than the original breach) and this breach will be applied to my credit file!

I then spent 3 hours (not exaggerating) pleading/begging with every HSBC department to understand my issue: -

1) My credit rating is VERY important to me.
2) It was a very small amount.
3) The CS person advised me wrongly.

...

Needless to say – I am paying off the HSBC card and I am NEVER going to touch stoozong again. I think this site exaggerates the benefits and downplays the pitfalls of stoozing – it is very very risky – anything can go wrong – and WHEN it does – your stuffed.

See you in 6 years L

I'm not going to argue your decision with you - I can certainly see why you have made it. But you MUSTN'T let HSBC get away with this. Find out their complaints procedure, WRITE to them and don't give up!

Please let us know how you get on.

NickX

The poster also put this on the Stoozing board.

I believe he did complain and got HSBC to reverse the decision - Good Result for him :beer:

shaman_2

Moggles wrote: »

Which other credit cards do you have at the mo?

HI have a lloyds platinum which I use for spending HSBC was only for balance transfer any purchases are made on the lloyds one and paid off in full before due date this is however a balance that I have been stoozing ! currently on 3rd card has previously been on MBNA and another couple which I forget currently owing £600 on card paying £50 pmonth

Moggles_2

Originally Posted by shaman

I have a Lloyds Platinum which I use for spending. The HSBC was only for a balance transfer. Any purchases are made on the Lloyds one and paid off in full before the due date. This is however a balance that I have been stoozing. Currently on 3rd card.Has previously been on MBNA and another couple which I forget. Currently owing £600 on [HSBC] card and paying £50 per month.

Have you considered Mint? This card offers new customers 0% on balance transfers until 1 May 2009. Also, there's a bonus offer on BTs debited to your account in July 2009. A 2.9% handling fee applies.