Best Balance Transfers Discussion Area

DreSaver

Hi Newbie Here...Hello!!!

I've got 15k on a Virgin Money CC...looking for the best place to BT? Can anyone provide some suggestions? Virgin have said I can apply for a new Virgin money cc but from reading this forumI don't think I would be able to transfer between both cards.

Thanks

CannyJock

DreSaver wrote: »

Hi Newbie Here...Hello!!!

I've got 15k on a Virgin Money CC...looking for the best place to BT? Can anyone provide some suggestions? Virgin have said I can apply for a new Virgin money cc but from reading this forumI don't think I would be able to transfer between both cards.

Thanks

You can't directly. Halifax is probably next best IMO.

woofwoofwoof

I know you can't balance transfer between cards owned by the same company so who should I avoid when applying for a balance transfer FROM a Halifax Credit Card. Thanks for all your help.

scott_lithgows

Bank of Scotland ones,check out the stoozing site for any others

billchecker1

Hi all,

First time poster!

I am in a quandry and need some help.

I have £3700 owed on a virgin card which is coming to the end of its promo rate.

I intend to spend £1500 this week on a new runaraound for the wife.

I have a barclaycard with an offer of 0% until september and I have just got a new tesco card with 0% on new purchases for 12 months.

After looking on the credit card section I am none the wiser. I have used up a lot of the companines over the last three years like HBOS.

Is it a good idea to shift the £3700 onto the barclaycard until Sept. Buy the car on my Tesco card.

Then find a new card (hopefully there will be one!) in September, shift the barclay card debt. Then in March 2011 get a new card and put them both onto one?

To make it complicated I dont like debt over two cards because I can then easily see how much I owe and if I have a little extra then I put it in there.

Also I like the idea of having a life balacne, which I could possibly get with barclays, although i then have to pay 6.9%.

I am so confused!

CannyJock

billchecker1 wrote: »

£3700 virgin card
spend £1500 this week

barclaycard 0% until september
tesco card 0% on new purchases for 12 months.

Is it a good idea to shift the £3700 onto the barclaycard until Sept. Buy the car on my Tesco card.

Yes and yes. If the dealer will accept a CC payment.

Not sure about your comment that you've "used up" other companies. If you closed your account then there's nothing stopping you from reapplying. Have you ever looked at your credit report to see that the old accounts are shown as "Settled" and not still open?

Forget about over complicating things by having it all on one card. Use the 0% periods for their specific purposes.

As you're getting to the end of the your new 0% offers, you can either apply for a new card or go back to one of the cards you've not used for a while to see if they have any offers.

Wildorchid_2

Hello,
£2,000 virgin
£2,400 Halifax with the promotional rate of 0.00% due to expire next month April.
£550 Barclaycard @19%apr (my bank) with a limit of £1,100

I did enquire about the lifetime rate on balance transfers for which they can offer 6.9% but currently only up to my limit unless I apply for an increase. Although it would be ideal to put all on to Barlcaycard, I don’t think they’ll increase my limit to £5,000 & don’t want to risk being declined as I’m sure this will result in being stuck with the balances where they are! My limit has only just been increased (after 4 years!) since I stopped clearing the balance in full & set to a monthly amount.

3 months ago I applied to increase my virgin limit by £300, but it didn’t go through. Could this show on my credit file? Previously my last credit app was 6 months ago where I applied to increase my grad Barclayloan which was declined. I checked my credit file which is fine in terms of payments (I always pay above min), so think this was due to high amount apps when I last transferred a balance. I have a good record with my bank, but only use the one.

The only problem is I have just changed jobs & only been working in my current role for 4 month, & am not a homeowner which may go against me. What is my best course of action? Please help!

billchecker1

Thanks for your reply CannyJock,

But if I use up the balance transfer option with barclay card will theat then mean they are less likely to give me the life time balance option in a years time?

PS I have had a barclay card for over ten years and never missed a payment (although never paid a penny interest either!)

CannyJock

billchecker1 wrote: »

Thanks for your reply CannyJock,

But if I use up the balance transfer option with barclay card will theat then mean they are less likely to give me the life time balance option in a years time?

PS I have had a barclay card for over ten years and never missed a payment (although never paid a penny interest either!)

You get more than one bite at the cherry with most cards. Taking them up on one offer doesn't preclude you from taking them up on another one at a later date. I'd say it won't make any difference in a year's time.

CannyJock

Wildorchid wrote: »

3 months ago I applied to increase my virgin limit by £300, but it didn’t go through. Could this show on my credit file? Previously my last credit app was 6 months ago where I applied to increase my grad Barclayloan which was declined. I checked my credit file which is fine in terms of payments

Normally a request to increase your limit results in a credit search - but presumably you'd have seen that when you looked at your credit file?

Doesn't sound like you have many option apart from trying to apply for a new card and hope for the best. Maybe an RBS-backed card as you don't have one from their stable yet. Meanwhile, you need to work out how you can repay your debts asap.

You should be making the minimum payments on your lowest APR debts and paying the maximum possible to your highest APR card.

List of RBS backed cards here http://www.stoozing.com/cards.php
List of current 0% offers here http://www.stoozing.com/0fees.php