Best Balance Transfers Discussion Area

CannyJock

marks77 wrote: »

I have a £3900 on one credit card - Mastercard that I want to transfer. I have a fair credit profile but that is only due to a number of credit card searches that I've made in the last few months trying in vain to transfer the balance to a better rate!!
The rest of the profile is full of Green 0's and satisfactory accounts no CCJ's defaults or missed payments.

Can any MSE's put me in the right direction in succeding a balance transfer???

Thank You.

Who is the card with and who have you applied to and when?

claire_whitney

Hi there all, i am new to posting but have a question about balance transfers.

I want to take advantage of a 0% deal but i only work a few hours a week. The Hubby has a full time job on a good salary with different credit cards than the one i have. We both have good credit scores.

Will any of the card companies allow me to use them or will Hubby have to apply? Is there a minimum salary needed?

Dhingrav

Cannyjock,

Egg card is not allowed a positive balance, against terms and condistions according to a lady who replied to me on egg message service. Now i'm really stumpted!

CannyJock

Dhingrav wrote: »

Cannyjock,

Egg card is not allowed a positive balance, against terms and condistions according to a lady who replied to me on egg message service. Now i'm really stumpted!

It's not against their terms and conditions. There's been no changes to their terms and conditions.

Not yet

They're trying to prevent you from doing it and have almost removed the option to overpay the card online through their own payment options, but it can be done. Mine is sitting with a positive balance right now.

DuN247

Hi All,

I am new to this site and would like some advise.

I have 2 CCs (1x800 Capital1 29%, 1x2500 Vanquis 39%) I have one default on my credit file. I am paying out 200 every month. I would like to BT to another card to consolidate and reduce payments.
Can anyone advise me on anything?

Regards,
DuN

CannyJock

DuN247 wrote: »

Hi All,

I am new to this site and would like some advise.

I have 2 CCs (1x800 Capital1 29%, 1x2500 Vanquis 39%) I have one default on my credit file. I am paying out 200 every month. I would like to BT to another card to consolidate and reduce payments.
Can anyone advise me on anything?

Regards,
DuN

Those cards aren't designed for carrying a balance, they're supposed to be cleared in full each month to help you rebuild your credit rating.

With a default, I don't see you getting a 0% card.

Your best bet would be to post on the Debt Free Wannabe board for debt advice.

sss4749

Not a good idea, IMO. You would extend the 0% period on your first balance by 3-4 months at most and you could incur two balance transfer fees in the process.

flashgirl

finally after applying and now being accepted - taking weeks and lots of chasing, the forms for yorkshire bank came through to sign.

its a first for us though as you have to take them into a yorkshire bank to be validated. living in surrey, there is not one branch here. our nearest is london picadilly which is miles away. i am really disappointed with this - interest is clocking up on my old card and its just been a total waste of time.

am thinking of applying for a different card - will my credit rating be affected by applying somewhere else so quickly?!?!? also why are yorkshire bank so anti south (and i'm not from here originally so no need for anti southern comments please )

AuntieM

Firstly apologies if someone has already asked this question recently - I have done a search but couldn't find anything.....

I have £6600 split between two 0% credit cards, and both 0% deals are ending. (split between 2 cards due the credit limits)
I have been shifting this debt between 0% deals for years.
I have an obscence amount of credit cards so have made the most of all the best deals over the years.

What I can't get my head round is;
am I better off continuing to shift the debt every 6/9months, for years, at 0% using existing cards, but paying 3% fee each time
or
I have a Barclaycard with enough credit limit to shift the whole amount at 6.9% for the life of the balance.

Yes, it'll take me more than 3 years to pay off this debt.
Any clues/advice would be much appreciated.

jamesd

The 0% balance transfers are the cheaper deal for one year periods and just a little cheaper for six months or less.

You should also consider 0% for purchases cards if you do enough day to day spending to make it worthwhile. All your food, petrol and other costs paid by credit card can often free up a lot of otherwise spent cash over a couple of months that you can put in a savings account and use to pay off one of the other cards.

The 15 month balance transfer deals and purchase deals seem more suitable for your need than the 6-9 month ones.

If you have a lot of cards with limits that you don't use and that aren't offering you repeat deals, closing those cards will improve your chances of getting new deals from other card companies. You can also often apply for new customer deals on the closed cards after six months, the time depends on the card.