Best Balance Transfers Discussion Area

findaway

hello

fairly new to posting info on the the forum, so sorry if its not the right place.
Firstly thanks to this website I've educated myself- and realised my credit worthiness may not be so bad.

I have just applied to Halifax for their o% balance transfer offer they appoached me with a few months ago and got refused......... I thought i was going to lay an egg!!

I've never been turned down for credit before. I have £10k with mbna ,the interst free period expires 1st Aug, the new rate will be approx 23% needless to say the new monthly amounts I cant afford.

I read up on all the advice from this website , so I've contacted another card I have with egg with zero balance, but their offer is 29%, Ive approached mbna and got them to offer 15.9% so my interest alone is going to be £115.00 pm (current pay £150) so i will only be paying a tiny amount off once the new rate kicks in.

I got my credit report from experian- and my payment history is bang on for everything except my next acc which has 1 late payment . HOWEVER..................
I AM ASSOCIATED WITH MY X PARTNER (ON MY CREDIT FILE because of joint mortgage) and I do know he has not been commitmed to pay his credit caRD/loans/bills since he left and moved away.
My solicitor is at the final stages of putting the mortgage in mine and my dads name (cost £450.00) so as per Martins advice, I will write to credit agencies to lodge 'disassociation' once it is sorted, but what a worry and huge price to pay.

As Martins website advises , your 'associations' will have an impact, but thats my bad judgement.............but my commitment to pay all my bills on time for all of my working life,often with more than the payment requires and juggling my '0'% deaLS -has cost me ...the irony is , it hopefully wont cost me the home I've struggled to keep. (my daughter and I share a 2 bed terrace, worth probably £250k)

The banks are trying to recoup on the cost of the loans and deals they wrongly gave in the past, I will never understand why it is allowed that everyday working class people who payed as per the terms - are in fact the main victims of the down turn ??

This must be hurting thousands like me.

Sorry for boring post , Martin Lewis has given me brilliant advice via this webste, thanks for that, but as he says , the 'Banks are there TO MAKE A PROFIT.' I'm not profitable because I pay on time.
My credit foot print is poor because I do pay on time, don't know what you think , but it should be against the law???????????

anyways, thanks for listening:(

gollum007

Quick brainpick please peeps
I'm looking for a B/T card on a relatively low income, but for a pretty small debt.

My income is approx £18,000 consisting of £15,000 wages, plus £3,000 from a lodger, which I'm wary of putting on any application. (Both are on the low side)
Currently have a Barclaycard (£1,500 limit) used for daily spending, & a Natwest Graduate (£3,500 limit, nearly £600 balance)
Other debts are a Natwest graduate overdraft (£2,000 limit), which normally sits at ~£700 overdrawn. There's also an unused Barclays overdraft (£1,000 limit).


Would like a card to B/T the contents of the Natwest card onto, although if they offer money transfers, I'd aim to shift the full limit onto it temporarily.
The main issue as I see it, is that I've got huge amounts of unused credit, and a quite low income.

Thoughts?

jamesd

Watson, the minimum payment depends on the card you're transferring the balance to, so there's no fixed answer. It'll be in the range from fixed £25 (old MBNA accounts) to 3% of the balance, £30 per £1,000 transferred.

vetriselvi

Hi, I am new to this.

~moneysavingnovice~

Just wondering if I'm likely to get refused a new cc for balance transfer?

I've got 2 cards at the moment: an HSBC one with £0 on it, credit limit £500 (won't allow balance transfers) a a barclaycard with £970 on it and £5,400 credit limit. This is the balance I want to transfer as the apr is over 20%.

However, I also have just over £14k on a loan and my gross salary is £29k.

Don't want to harm my credit rating by applying unnecessarily- think I'll be rejected??

King_Nothing

Hey, got a query.

I've tried getting a Natwest Credit Card, to take advantage of their 16 month 0% balance transfer (£3k on a barclaycard), but been declined, I don't wanna keep trying applying online to companies, only to be declined again and again, you think there is a better chance of getting another credit card if I go into a bank and speak with someone face to face, and explain my siuation, 6 or 10 months 0% would be better than nothing. I'm just trying to finally clear it all away.

I currenty have £2k left on a 0% 2 year motorbike payment. And around 32 months left on a £15k loan. Have never defaulted on a payment, and only ever exceeded my credit card limit once. Depending on the month I can have around £400-500 to pay off the card, so could pay it off in around 10 months, so I don't see the point in still paying interest if I can avoid it.

obiwan_2

Hi People,

I've got the Virgin (£7,000) and Halifax (£0) cards which I acquired over a year ago to transfer debts, however my 0% periods are up. I applied for tescos late last year and got rejected. What other sure options do I have cos at the present rates, I just keep paying but the balance simply doesnt go down.

Note:
I have a barclays(£0) and HSBC (£6,000) as well.
Also, I do have a good credit history, and always meet my payments.
and a Barclays loan of about 17,000.

*the amounts written are what I owe on each.

Thanks

dickey81

Hey guys ive just joined the forum and im looking some advice.
Im looking for a new credit card to do a balance transfer and have applied for 5 cards in the past week but have been rejected from them all!! Are there any cards that are easy to obtain, that offer a 0% interest on Balance transfers for around 6 months. I only owe around £600. thanks

jeffo489

I took out a Sandtander Zero Credit card to help my son. He has a card with a balance that is charging 22% interest.

My intention was to transfer the balance to my Santander card, and let him take advantage of my 0% 0 fee balance transfer facility.

When I called Santander to make the transfer, I got told that the card I am transferring FROM must be in my name. They will not transfer a balance from my sons card.

My Virgin Card does not have this same restriction but they charge 3%.

Is the Santander Advisor correct? or have they made a mistake? Anyone transfered a balance from a family members credit card to a Santander card?

molley

jeffo489 wrote: »

I took out a Sandtander Zero Credit card to help my son. He has a card with a balance that is charging 22% interest.

My intention was to transfer the balance to my Santander card, and let him take advantage of my 0% 0 fee balance transfer facility.

When I called Santander to make the transfer, I got told that the card I am transferring FROM must be in my name. They will not transfer a balance from my sons card.

My Virgin Card does not have this same restriction but they charge 3%.

Is the Santander Advisor correct? or have they made a mistake? Anyone transfered a balance from a family members credit card to a Santander card?

Don't know about what you are asking but if both cards are from the same stable then BT's are not allowed anyway afaik