Best Balance Transfers Discussion Area

trader007

thx Yorkshireboy, I'll look into that now

reidjenny26

Just got Virgin credit card + balance transfer, pretty smooth and helpful
on the phone. Halifax was a painful experience.

Primrose2004

HI everyone, i'm a new poster to MSE, I have been browsing the boards for a while, but could use some advice. I hope someone can help

I have approx £6k on a credit card. I'd like to clear it asap and am considering a balance transfer and hopeful clearance asap. I've seen the Santander 15 month option which looks like a good one for me. But I wondered if anyone (a) thinks I should do this, atm I pay approx £95 a month in interest so trf fee 3% would be 2 months interest so i'm happy with that, but if I couldn't pay it all off in 15 months i'd have to suffer the interest of trf again. (b) am I liking to get enough of a limit to trf the whole bal? (c) is it worth ringing the current cc(N/wide) and asking if they can do anything with their rate or are they likely to laugh at me!! We have our mortgage and bank accounts with N/wide so might that sway them to help us clear it?

I hope that makes sense!!

Thanks for any help you can give x

CannyJock

Primrose2004 wrote: »

(a) thinks I should do this, atm I pay approx £95 a month in interest so trf fee 3% would be 2 months interest so i'm happy with that, but if I couldn't pay it all off in 15 months i'd have to suffer the interest of trf again.

You'd have saved money from month 2 onwards, so not seeing what the problem is.

Primrose2004 wrote: »

(b) am I liking to get enough of a limit to trf the whole bal?

No way of knowing.

Primrose2004 wrote: »

(c) is it worth ringing the current cc(N/wide) and asking if they can do anything with their rate or are they likely to laugh at me!! We have our mortgage and bank accounts with N/wide so might that sway them to help us clear it?

Won't do any harm, but probably a wasted phone call. If you phone and ask them the exact amount including residual interest needed to clear your account if you were to transfer your balance to another card, it might encourage them to make an offer. Don't think Nationwide are much use with their offers though.

mpc1

Hi there,
I desperately need some help. Compared to some folks I guess my situation is not that bad but it's really getting me down and is affecting me, my work, my lifestyle and my relationship.
I made some stupid financial decisions about 2 years ago after a messy break up. Consequently I find myself with 2,500 on a HSBC credit card (who are my bank); 260 with Barclaycard; and 250 with Vanquis. I really want to stop and get myself out of this but with a poor credit rating I just dont know how and I'm at my witts end. Is the best thing to do to get a personal loan and use the loan to pay off and cancel all three cards? Or continue trying to find someone whol'll accept me for a balance transfer. I ultimately want to cancel the HSBC and Vanquis/Barclay - keeping one of the smaller ones just in case. If so, who'se going to offer me the best deal? It's a minefield out there! I am due a pretty big pay rise from work in the next two months or so but I don't know when that will actually arrive in my bank account.
Please help me !!

CannyJock

mpc1 wrote: »

Hi there,
I desperately need some help. Compared to some folks I guess my situation is not that bad but it's really getting me down and is affecting me, my work, my lifestyle and my relationship.
I made some stupid financial decisions about 2 years ago after a messy break up. Consequently I find myself with 2,500 on a HSBC credit card (who are my bank); 260 with Barclaycard; and 250 with Vanquis. I really want to stop and get myself out of this but with a poor credit rating I just dont know how and I'm at my witts end. Is the best thing to do to get a personal loan and use the loan to pay off and cancel all three cards? Or continue trying to find someone whol'll accept me for a balance transfer. I ultimately want to cancel the HSBC and Vanquis/Barclay - keeping one of the smaller ones just in case. If so, who'se going to offer me the best deal? It's a minefield out there! I am due a pretty big pay rise from work in the next two months or so but I don't know when that will actually arrive in my bank account.
Please help me !!

What does your credit report show? How many searches are showing in the past 12 months? Are you on the electoral register? Have you read the article on how to improve your credit rating? What makes you think you've got a poor credit rating?

Ragdags

Hello all,

I finally transferred my credit card to another for 0% on balance transfers for 18 Month. Once I got the new credit card it stated that it was 0% on purchases for the first three months. I bought a laptop because I needed one. Now I have noticed that I am getting charged interest, I can only assume because of the purchase rather than the transfer? I'm guessing it was 0% (not getting charged a % for the purchase) but not on the reamining balance? Of course the part with the interest will be the last part which is paid. I know I should have read the small print, but now I don't feel any further forward than I did a few months ago. Is it worth transferring this balance to another 0% credit card again? Will this damage my credit score? What would you advise?

mpc1

I've looked it up and yes, it is poor. I am not on the electoral register - does this help things? I've read the article and while I appreciate that ultimately I need to readdress how I handle things, it doesnt get me out of this situation right away - and time is of the essence. I want to get out of this situation, but surviving and paying debts is turning out to be impossible! I dont go out every weekend, I cant remember the last time I bought myself anything, I dont have a car 'cos I cant afford one... it's not like I'm being careless with what I do have, it's that it's just not working in getting me out of this at all!

mpc1

I've looked it up and yes, it is poor. I am not on the electoral register - does this help things? I've read the article and while I appreciate that ultimately I need to readdress how I handle things, it doesnt get me out of this situation right away - and time is of the essence. I want to get out of this situation, but surviving and paying debts is turning out to be impossible! I dont go out every weekend, I cant remember the last time I bought myself anything, I dont have a car 'cos I cant afford one... it's not like I'm being careless with what I do have, it's that it's just not working in getting me out of this at all!

sammi1910

HELP!!! Does anyone know of any credit card that will let me do a balance transfer from a catalogue account?? Got told by Natwest that they would, then when i got the card and called to do the transfer they told me they didn't transfer catalogue debts!!!