Best Balance Transfers Discussion Area

jamesd

max7, good job! For anyone without missed payments or CCJs it should be pretty easy to do, at least up to the point where their total credit limits are a quarter of their salary. If they can stand some rejections, up to half is likely to be OK as well, just not so easy. Beyond that gets tougher and may not be possible at all.

5AM

could someone please tell me what happens to the original account if I balance transfer the full amount to another card?

I am with lloyds tsb and if I balance transfer the full amount to another provider does the lloyds account get closed or is it still open to continue using?

jamesd

The Lloyds account stays open unless you choose to ask Lloyds to close it yourself. Nothing involved in transferring a balance will do that.

Visadiaries

it is a good way

vipin11

Hi, I appreciate some help, as for me all this is a bit confusing, thanks. I got a Platinum barclaycard ( I am not sure what is the APR on this card, but I am finding out). My credit has been used in full on this card £7000 (OMG!!). Anyway, I found that my monthly interest is around £100 average (last statement £115, new statement £75). I am not sure if that interest on the repayment can be lower somewhere else?. I am commited to pay £200 monthly, in which case I will be paying in 36 months. Which credit card I should go for a balance transfer (no purchases of course, just pay the debt), that will offer the best deal, can you pls let me know. Thanks

sparkylife

Hello,

I wanted to know what more experienced members thought about the change in payment priorities and how this will affect 0% BT offers. I have a Virgin CC that is currently £3.5K 0% which expires in early November 2010 (should be down to £3k ish by then). I am away for most of October so I was going to organise a transfer in September before I leave. But with the change of payment priorities I can't see the banks offering many 0% BTs after September. I can't afford to pay off the debt at the moment (or in November) so I don't want it to revert to the original interest rate.

I was thinking, to be safe I would apply early August 3 months before the 0% expires on the Virgin card but lock in the debt at 0% for another 13 - 15 months depending on which bank the cc was with. Am I being overly cautious with this approach?

Thanks in advance for any feedback.

5AM

jamesd wrote: »

The Lloyds account stays open unless you choose to ask Lloyds to close it yourself. Nothing involved in transferring a balance will do that.

Thanks James :beer:

jamesd

vipin11, try stoozing.com's card tables.

sparkylife, you're being cautious and will lose a bit of 0% time but that's fine. Beats paying the interest. You can't be sure you'll get a new card or how long the application will take to be accepted so it is good to allow plenty of time.

Amelia_S

After a bit of advice -

I have 10k on my c/c and paying an extortionate amount of interest each month. I want to apply for a new card and do a 0% balance transfer but I have recently become a full time mum so and set up my own business so my annual income is only going to be around 6k this year. My husband has his own business which will probably only bring in 16k this year. Is there any point in applying for a new card as all the ones i've looked at require a 20k annual income?

many thanks

Dazla_2

This may be an obvious question, but, can you transfer a Loan balance to a credit card. I have just under 10K on a loan outstanding and was wondering, if I can get the credit on a card, if I could transfer it?